The top Japanese financial regulator has given a hint that it may be preparing to attempt to police the decentralized finance (DeFi) sector.

The Financial Services Agency (FSA) issued a call for DeFi players to take part in a “fact-finding survey” on the sector.

The FSA wants to “research” its “understanding” of “actual conditions” surrounding “on-chain and off-chain” data management “in decentralized financial systems.”

The agency asked would-be contributors to the initiative to register their interest in the form of a “bid,” with a deadline of December 9.

The FSA also said it would “hold a briefing session” on its planning for what it called a “competition” on Friday, December 2.

While this may seem somewhat encouraging for the DeFi sector, past evidence suggests that it is more likely that the FSA is actually looking to regulate the sector – but first needs to learn more about how it works.

(By Tim Alper)