Golden Finance reports that Japan is considering new lightweight legislation for cryptocurrency intermediaries that are not cryptocurrency exchanges. Recently, Japan’s Financial Services Agency (FSA) proposed its ideas to the Financial System Committee’s Payment Services Working Group. Japan introduced legislation in 2017 for crypto-asset exchange service providers (CAESPs), covering the buying and selling of cryptocurrencies, acting as brokers, managing funds in connection with these services or providing custody. However, many so-called introducers who do not operate cryptocurrency exchanges do not consider themselves CAESPs. Therefore, the Financial Services Agency is considering a proposal to require them to register as intermediaries. The introducer is obliged to provide information to users, will be subject to advertising restrictions and may be liable for damages if something goes wrong. The FSA also considered how to handle damages. Current regulations for other financial services intermediaries that are not part of a larger group require a bond to cover potential damages. If the intermediary is affiliated with a cryptocurrency exchange, damages may be borne by the exchange.