Key facts
- Nomura Group's subsidiary, Laser Digital, has been authorized to operate as a crypto asset exchange in Japan.
- This is the first new crypto exchange license issued by Japan's Financial Services Agency in four years.
- The last platform to receive FSA authorization was Binance Japan in October 2022.
- Revisions to Japan's Financial Instruments and Exchange Act will classify crypto assets as financial assets.
- These revisions aim to bring crypto under the same regulatory umbrella as traditional finance assets.
Nomura Group's digital asset subsidiary, Laser Digital, has received authorization to operate as a crypto asset exchange service provider in Japan. This marks the first new crypto exchange license issued by the Financial Services Agency (FSA) in four years, with the last being Binance Japan in October 2022.
Jez Mohideen, co-founder and CEO of Laser Digital, stated that the Japanese crypto market is entering a "new phase of maturity," necessitating "trusted counterparties and infrastructure" as institutional investor interest grows.
Recent revisions to Japan's Financial Instruments and Exchange Act, passed in July, will classify crypto assets as financial assets. This move will shift regulation away from the Payment Services Act, where digital assets are primarily treated as payment instruments, and introduce stricter oversight, including insider trading rules for crypto businesses. These provisions are set to take effect within one year of their July 23 promulgation.
Japanese Finance Minister Satsuki Katayama had previously indicated an intention to integrate crypto regulation with traditional finance to allow citizens to "benefit from digital and blockchain-based assets."