Japan Issues First Crypto Exchange License in Four Years

Nomura Group's digital asset subsidiary, Laser Digital, has been granted Japan's first crypto exchange approval in four years. The company received authorization to operate as a crypto asset exchange service provider under Japan's Payment Services Act (PSA).

The last platform to receive FSA authorization was Binance Japan in October 2022. Japan's parliament passed revisions to the Financial Instruments and Exchange Act (FIEA) in July, which will move regulation of crypto transactions away from the PSA.

These changes are aimed at bringing crypto under the same umbrella as traditional finance assets, as per Japanese Finance Minister Satsuki Katayama's statement in January. The revisions introduce insider trading rules and stronger oversight for crypto businesses.