Laser Digital Japan becomes first new crypto exchange approved in Japan in four years

Laser Digital Japan, a subsidiary of Nomura Holdings, has secured registration as a Crypto Asset Exchange Service Provider, marking Japan's first new crypto exchange approval in four years. The firm plans to provide liquidity to domestic virtual asset service providers before expanding to institutional trading. This entry aligns with growing institutional demand, as a Nomura survey shows 79% of local institutions plan to invest in crypto within three years, and a sweeping legislative overhaul that will introduce a 20% flat tax on crypto gains by 2028.

Laser Digital Japan exchange registration

• ▪Laser Digital Japan completed its registration as a Crypto Asset Exchange Service Provider with Japan's Financial Services Agency on August 21, 2026
• ▪Laser Digital Japan is the first new crypto asset exchange service provider to be registered in Japan in four years
• ▪Laser Digital Japan, which is a subsidiary of Nomura Holdings' digital assets division, began its regulatory journey in Japan in October 2025

Japan crypto regulatory overhaul

• ▪The new Financial Instruments and Exchange Act framework introduces explicit guidelines for exchanges, imposes stricter compliance requirements, and introduces insider trading restrictions for domestic Japanese crypto markets
• ▪Japan's parliament recently approved legislation under the Financial Instruments and Exchange Act that reclassifies crypto assets as financial instruments

Institutional crypto demand in Japan

• ▪A 2026 survey conducted by Nomura and Laser Digital found that 65% of institutional investors in Japan view crypto assets as a diversification tool
• ▪The 2026 Nomura and Laser Digital survey revealed that approximately 79% of Japanese institutional respondents plan to invest in crypto assets within the next three years

Liquidity services for providers

• ▪Laser Digital Japan plans to expand into digital asset trading opportunities for institutional investors at an unannounced future date
• ▪Laser Digital Japan will initially focus on providing liquidity services to domestic virtual asset service providers in Japan

Japan crypto tax reform

• ▪The new 20% flat tax regime on qualifying crypto gains in Japan is expected to take effect as early as January 1, 2028, though some regulatory shifts may begin in 2027
• ▪The approved Japanese legislative overhaul proposes a 20% flat tax on qualifying crypto gains, replacing the current miscellaneous income tax rate that can reach up to 55% for top earners

3 sources