Finance Regulator Grants License To Coincheck. Coincheck – a cryptocurrency exchange was granted complete permission by Japan’s finance regulator. The Financial Services Agency (FSA)starts operating in the country according to the report.
Last January 2018, Coincheck was hacked. Due to which the cryptocurrency exchange lost altcoin tokens worth $530 million at the time. Therefore, by the permission by FSA, the exchange now joins the list of officially sanctioned exchanges in the Japanese market. Hence the step is a milestone for the exchange. It has become add on benefit for online broker Monex Group, which bought Coincheck for a nominal $33.5 million in April.
According to a Jan. 11 press release from Monex Group, Coincheck has registered specifically with the Kanto Financial Bureau.
Since the interim period, developers have slowly returned functionality to users and organized refunds of stolen coins.
Finance Regulator Grants License To Coincheck-Japan has sought to implement a licensing scheme over the past year in the wake of frequent hacks of exchanges. Despite heightened legislation, smaller-scale hacks have continued, with fellow platform Zaif losing around $20 million last September. The security setups of exchanges became the major concern for Japan.