[Japan's Financial Services Agency (FSA) Research Group Discusses DeFi Regulation and Gatekeeper Role] According to CoinPost, Japan's FSA released the agenda for the first meeting of its "Research Group on Digital and Decentralized Finance Responses," held on October 20th. Regarding DEXs (decentralized exchanges) and DeFi (decentralized finance), committee members suggested that Japan should respond promptly to avoid becoming a "regulatory vacuum or a breeding ground for regulatory arbitrage." The meeting also discussed the risks of large-scale redemptions of stablecoins, tokenized deposits, and electronic payment methods potentially triggering massive sell-offs of government bonds, as well as the question of who should assume the gatekeeper role previously held by traditional financial institutions.