Laser Digital, the digital asset subsidiary of Nomura Group, has received authorization to operate as a crypto asset exchange service provider under Japan’s Payment Services Act (PSA).
According to a list issued by Japan’s Financial Services Agency (FSA), 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.
Jez Mohideen, co-founder and CEO of Laser Digital, stated in a press release that 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 the asset class.
In July, Japan’s parliament passed revisions classifying crypto assets as financial assets under the Financial Instruments and Exchange Act (FIEA). These revisions will shift the regulation of crypto transactions away from the PSA, which currently treats digital assets primarily as payment instruments, and will introduce insider trading rules and stronger oversight for crypto businesses. The provisions are set to take effect on a date determined by Cabinet order within one year of the amendments' July 23 promulgation.
Japanese Finance Minister Satsuki Katayama previously signaled the intent in January to bring crypto under the same regulatory umbrella as traditional financial assets to ensure citizens benefit from digital and blockchain-based assets.
