Please don't...
On the subject of the FG "name-tag chats," as I like to call them, they are pretty dumb. It's like Nintendo doesn't know if they want to limit communication or not. They don't leave enough room to have any interesting conversations, but they will let people throw around 1-2 word insults over name tags. It just gets obnoxious after losing multiple laggy matches and then getting slammed with multiple tags like "GET*REKT", "I READ U", and "OMGdaREADS". Either add in mic chat or just don't bother at all (or maybe add in a safe-chat type thing like it Mario Kart 8 if mic chat is just too risky). If they don't let us use Mii Fighters online because "someone might get offended," then I don't see why the name tags aren't censored for the same reason. Though to be fair, it is pretty funny seeing someone yell various slurs at you in all caps after you beat them.