Japan Grants Shiba Inu Regulatory Approval
Shiba Inu has secured regulatory approval in Japan after Laser Digital Japan, a subsidiary of Nomura Holdings, received permission from the Financial Services Agency to provide digital asset services. The platform will offer trading for six cryptocurrencies, including SHIB, with only a handful of other coins also approved. SHIB's inclusion on the list is notable, given its relatively conservative selection of assets.
The approval comes after Laser Digital Japan was officially registered by the FSA on August 21, marking the first new crypto exchange license granted in four years. The platform will initially focus on institutional clients, offering wholesale liquidity services to domestic crypto platforms before expanding access to corporations and investment funds.
SHIB's presence on the 'Green List' of the Japan Virtual and Crypto Assets Exchange Association likely contributed to its approval. Retail momentum for SHIB accelerated earlier this year with the introduction of token trading by Japanese e-commerce giant Rakuten, which granted 44 million registered users access to digital assets.