The Financial Services Agency (FSA), Japan's primary financial regulator, may develop new legislation to regulate decentralised finance (DeFi)-related projects. In Japan, NFTs have become a significant problem, especially among culture sector innovators. The FSA also stated that it would look into cryptoasset policy, as well as central bank digital currencies (CBDC) and non-fiat currencies (NFTs). The FSA controls nearly all aspects of Japan's crypto policy, and previous study group results have virtually always resulted in regulatory changes.