Nomura Group's Laser Digital has obtained its first cryptocurrency exchange license in Japan in four years

Laser Digital Japan, a digital asset subsidiary of the Nomura Group, has been officially registered as a cryptocurrency exchange service provider under the Payment Services Act (PSA) in Japan. According to a list released by the Japanese Financial Services Agency (FSA) on Friday, this is the first new exchange license issued in approximately four years, since Binance Japan received its approval in October 2022. Jez Mohideen, co-founder and CEO of Laser Digital, stated in a company press release that the Japanese market is entering a "new phase of maturity" as institutional investors show increasing interest in cryptocurrency assets. He emphasized that this necessitates a greater need for "reliable counterparties and infrastructure." Laser Digital plans to initially focus on providing liquidity within Japan and then gradually expand its operations to include cryptocurrency trading services for institutional clients. The Japanese parliament passed an amendment in July that classifies cryptocurrencies as financial assets under the Financial Instruments and Exchange Act (FIEA). This amendment shifts the primary framework for regulating digital assets from the Payment Services Act (PSA), which focuses on payment methods, to the FIEA, which centers on financial assets. It also introduces regulations prohibiting insider trading and strengthens oversight of cryptocurrency businesses. The relevant provisions are scheduled to take effect within one year from the date of promulgation, which is July 23rd, on a date determined by the relevant government ordinance. Japanese Finance Minister Katsuki Yatayama officially stated in January that he intends to bring cryptocurrencies under the same regulatory framework as traditional financial assets, with the aim of allowing citizens to benefit from digital and blockchain-based assets. The acquisition of this license by Laser Digital can be interpreted as a result of Japan's crypto-friendly policies and its focus on developing the institutional market. The entry of Laser Digital, backed by the Nomura Group, into the market is being seen as a significant event, signaling the 본격적인 start of operations by a player with the credibility and expertise of traditional finance in the Japanese institutional cryptocurrency market. In Japan, which had not granted new exchange licenses for a long time, the issuance of a license after four years is a symbolic event that reflects a change in the policy environment.