Laser Digital Secures Japan’s First Crypto License in 4 Years

The four-year gap between approvals is the real signal here: Japan's licensing regime has been effectively closed, and a single re-opening matters less for what it permits than for what it suggests about supervisory willingness to re-engage. A Nomura subsidiary carrying the first license through that door is notable, since it ties institutional credibility to a market that has largely been served by domestic incumbents. Whether this proves an isolated approval or the start of a broader re-opening is the open question.