Katsuya Terai

Katsuya Terai is Deputy Director, Crypto-Assets, Blockchain & Innovation Division at the Financial Services Agency of Japan (JFSA), a position he has held since August 2025. In this role he works on Japan's evolving crypto regulatory framework, including the country's shift from a payments-first model under the Payment Services Act toward greater reliance on the Financial Instruments and Exchange Act, as well as proposed changes covering custody safeguards, white paper disclosures for issuers, crypto market abuse requirements, and the structured stablecoin framework.

Prior to joining the JFSA, Terai served as Legal Advisor at the Japan Security Token Offering Association from November 2021 to July 2025, a financial instruments business association certified by the JFSA. He also held short-term legal positions in Europe, working as an Attorney at Law on the Corporate/M&A team and Japan desk at AKD in Amsterdam from October to December 2024, and as an Associate in the Finance & Insurance team at Sorainen in Tallinn from January to June 2025. From May to October 2023, he served as an adjunct lecturer in the Degree Programs in Business Sciences at the Graduate School of Business Sciences, Humanities and Social Sciences at the University of Tsukuba in Tokyo.