Japan Grants First Crypto Exchange License in Four Years to Laser Digital

Nomura Group's digital asset subsidiary, Laser Digital, has received authorization to operate as a crypto asset exchange service provider in Japan under the Payment Services Act (PSA). This marks the country's first crypto exchange license in four years, following Binance Japan's approval in October 2022.

The Japanese government is shifting its regulatory approach towards treating crypto assets as financial instruments. The Financial Instruments and Exchange Act (FIEA) revisions classify digital assets as financial assets, moving regulation away from the PSA. This change aims to introduce insider trading rules and stronger oversight for crypto businesses.

Jez Mohideen, co-founder and CEO of Laser Digital, believes this new phase of maturity in Japan's crypto market requires trusted counterparties and infrastructure. He notes that institutional investors are increasingly interested in digital assets.