Laser Digital gets Japan’s first crypto exchange approval in 4 years

Nomura-backed Laser Digital Japan received registration to provide domestic liquidity before expanding into institutional crypto trading.

Nomura Group’s digital asset subsidiary, Laser Digital, received authorization to operate as a crypto asset exchange service provider under Japan’s Payment Services Act (PSA)

A list issued by Japan’s Financial Services Agency (FSA) on Friday showed that Laser Digital received the country’s first crypto exchange license in four years. The last platform to receive FSA authorization was Binance Japan in October 2022.

Japan’s crypto market is entering a “new phase of maturity,” creating a need for “trusted counterparties and infrastructure” as “institutional investors increase their interest in this asset class,” Jez Mohideen, co-founder and CEO of Laser Digital, said in a Friday press release .

In July, Japan’s parliament passed revisions that classify crypto assets as financial assets under Japan’s Financial Instruments and Exchange Act (FIEA).

The revisions will move regulation of crypto transactions away from the PSA, where digital assets are currently treated primarily as payment instruments, and introduce insider trading rules and stronger oversight for crypto businesses. The crypto provisions will take effect on a date set by Cabinet order within one year of the amendments’ July 23 promulgation.

Japanese Finance Minister Satsuki Katayama signaled the intent to bring crypto under the same umbrella as traditional finance assets in January, to ensure that citizens will “benefit from digital and blockchain-based assets.”

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Laser Digital gets Japan’s first crypto exchange approval in 4 years

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