Nomura Unit Clears Regulatory Hurdle, Wins First Crypto Exchange License in Four Years

Nomura's Japanese unit, Laser Digital Japan, has cleared a four-year regulatory hurdle by registering as a crypto asset exchange service provider. The company operates under Japan's Payment Services Act and is listed with the Director-General of the Kanto Local Finance Bureau.

Laser Digital Japan initially plans to provide liquidity to domestic virtual asset service providers before opening up trading access for institutional investors.

This development comes as Japan's National Diet passed legislation in July to transfer crypto regulation from the Payment Services Act to the Financial Instruments and Exchange Act. The change is expected to tax qualifying crypto gains at a rate of 20%, down from the current maximum of 55%.