Japan approved its first new crypto exchange operator in four years under a regulatory regime that’s already scheduled to be replaced.

Laser Digital Japan, the Japanese arm of Nomura’s digital-asset subsidiary Laser Digital, completed registration as a crypto asset exchange service provider on 21 August, according to Japan’s Financial Services Agency registry.

The firm is listed under Kanto Local Finance Bureau Director No. 00032, with an initial asset scope covering bitcoin, ether, XRP, bitcoin cash, litecoin and shiba inu.

Laser Digital Japan said it will initially focus on supplying liquidity to Japan’s existing crypto asset exchange service providers, before extending digital-asset trading services to institutional clients at a…