News Coincheck Wins FSA Approval - ETHNews.com

Coincheck Wins FSA Approval – ETHNews.com

-

- Advertisment -

Nearly a year after being hacked, the exchange has attained FSA licensure.

Almost a month after rumors emerged that Coincheck had at last achieved regulatory approval by Japan’s Financial Services Agency (FSA), it has now been confirmed that the exchange is registered with the Kanto Financial Bureau, in accordance with Japan’s Payment Service Act, effective today. The Kanto Financial Bureau is a regional bureau that grants registration status on behalf of the FSA.

On December 19, the Nikkei Asian Review published an article claiming that the Japan Financial Services Agency (FSA) had granted the license to Coincheck, but Monex Group, the exchange‘s parent company, refuted the claim. It acknowledged that Coincheck had been seeking regulatory approval, and that when and if such approval was official, Monex group would make an announcement.

The Japan Virtual Currency Exchange Association (JVCEA) also published a notice today stating that the FSA had made a public announcement that Coincheck is now officially a registered exchange with the JVCEA, the self-regulatory body for cryptocurrency exchanges in Japan. The JVCEA was formed in reaction to last January’s Coincheck hack, which led to the theft of over $500 million worth of NEM tokens from the exchange

A lot has happened for Coincheck in the last year. Immediately following the hack, the exchange suspended the withdrawal and purchase of all cryptocurrencies except for bitcoin. The exchange then refunded approximately 260,00 people affected by the attack. With the help of Monex Group, which acquired Coincheck in April for $34 million, Coincheck made efforts to increase security measures, resume services, and move toward regulatory compliance.

Alison is an editor and occasional writer for ETHNews. She has a master’s in English from the University of Wyoming. She lives with her pooch in Reno. Her favorite things to do include binge listening to podcasts, getting her chuckles via dog memes, and spending as much time outside as possible.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Coincheck, Japan or other Ethereum wallets and exchanges news.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

3 Beginner Friendly Ways to Make Money with Cryptocurrency 2020

In this article, we will explain how to make money with cryptocurrency in 2020. These methods are...

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next 5 years, many of the major supermarkets are expected to...

Different Facets of Biometric Authentication and How They Are Making A Difference in The Financial Sector

When we think of authentication in the true sense, then we find ourselves amid the different proven...

UNICEF’s 125 ETH Investment Took Less Than 20 Minutes and Cost Less Than $20

"The digital world is coming to us faster than we could have imagined," said UNICEF chief Chris...
- Advertisement -Coincheck Wins FSA Approval - ETHNews.com

Analysis: Is Bitcoin (BTC) Still Viewed As A Dark Web Currency?

There is a long past of Bitcoin (BTC) – due to its anonymity – being used in...

A Beginner’s Guide to Day Trading Crypto

Much of the activity that comes from the crypto-space originates from the crypto-trading community. Buying and selling...

Must read

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next...
- Advertisement -

You might also likeRELATED
Recommended to you