Japan is considering new lightweight legislation for cryptocurrency intermediaries on non-cryptocurrency exchanges. Recently, Japan's Financial Services Agency (FSA) presented its ideas to the Financial System Commission's Payment Services Working Group. Japan introduced legislation for crypto asset trading service providers (CAESPs) in 2017, covering the buying and selling of cryptocurrencies, acting as brokers, managing funds associated with these services, or providing custody. However, many so-called introducers who do not operate cryptocurrency exchanges do not consider themselves CAESPs. Therefore, the FSA is considering proposals to require them to register as intermediaries. Introducers are 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 rules for other financial services intermediaries that are not part of a larger group require a deposit to cover potential damages. If the intermediary is affiliated with a cryptocurrency exchange, damages may be borne by the exchange.