Laser Digital Japan Becomes Japan's First Newly Registered Crypto Exchange in Four Years

Japan has approved its first new crypto exchange registration in four years, and it comes from one of the country's biggest financial groups. Laser Digital Japan, part of Nomura Holdings' digital assets business, completed registration with the Financial Services Agency (FSA) as a Crypto Asset Exchange Service Provider on August 21. Laser Digital Japan is not entering the market with a retail trading app or an aggressive token-listing push. The company's initial role will be to provide liquidity to domestic virtual asset service providers, effectively supporting the backbone of Japan's existing crypto market infrastructure. The next step is to expand into digital asset trading services for institutional clients. The institutional-first strategy aligns with local demand signals. In a 2026 survey by Nomura and Laser Digital, 65% of Japan's institutional investors said they view crypto assets as a diversification tool. About 79% also reported plans to invest within the next three years. Laser Digital co-founder and CEO Dr. Jez Mohideen has said the strategy centers on regulatory compliance and institutional-grade standards. The firm's operations in jurisdictions including Abu Dhabi and Dubai give it cross-border regulatory experience that likely supported the FSA approval process. Laser Digital's timing also coincides with a broader policy shift. Japan's parliament recently approved amendments under the Financial Instruments and Exchange Act (FIEA) that reclassify crypto assets and set clearer rules for exchanges. The framework adds tighter compliance requirements, including insider trading restrictions, and includes a proposed 20% flat tax on qualifying crypto gains, which could take effect as early as January 1, 2028. A lower, standardized tax rate could materially change market dynamics. Crypto gains in Japan are currently taxed as miscellaneous income, with rates that can reach 55% for top earners. Moving to a flat 20% would align crypto taxation more closely with the treatment of stock market profits. With roughly 79% of institutional investors in the Nomura/Laser Digital survey signaling near-term allocation plans, the demand side appears ready. Laser Digital's FSA registration, combined with the FIEA reforms and the potential 20% flat tax in 2028, adds a regulated venue and clearer legal framework that industry participants have long viewed as missing.