Nomura Group’s digital asset unit, Laser Digital, has been granted authorization to operate as a crypto asset exchange service provider under Japan’s Payment Services Act (PSA), according to a Friday listing by the Financial Services Agency (FSA). The approval marks the first such license issued to a crypto exchange in Japan in four years, following Binance Japan’s authorization in October 2022.
The move coincides with Japan’s evolving regulatory framework for digital assets. In July, Japan’s parliament passed amendments to the Financial Instruments and Exchange Act (FIEA) that reclassify crypto assets as financial assets, shifting oversight from the PSA—where digital assets were treated primarily as payment instruments—to a regime with insider trading rules and enhanced compliance requirements for crypto businesses. The crypto provisions are set to take effect within one year of the amendments’ July 23 promulgation, with the exact date to be determined by Cabinet order.
Jez Mohideen, co-founder and CEO of Laser Digital, described the approval as a step toward a “new phase of maturity” in Japan’s crypto market, emphasizing the need for “trusted counterparties and infrastructure” amid growing institutional interest in digital assets. Finance Minister Satsuki Katayama previously indicated in January that the government aims to integrate crypto assets into traditional financial oversight to ensure citizens can benefit from blockchain-based innovations.
The FSA’s decision underscores Japan’s gradual shift toward formalizing crypto regulation, aligning digital assets more closely with conventional financial instruments while maintaining a phased implementation approach.
