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

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

How to double your crypto

Most of us have a small gambler deep inside our souls. We love to feel the thrill...
- Advertisement -Coincheck Wins FSA Approval - ETHNews.com

Cryptocurrency Top Security Risk Concerns: What You Can Do to Protect Your Crypto

A report by CipherTrace revealed that in the first half of 2019, criminals and fraudsters stole more...

How has Bitcoin of America Changed the Cryptocurrency Industry?

Who is Bitcoin of America? Bitcoin of America is a U.S. based digital currency...

Must read

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when...
- Advertisement -Coincheck Wins FSA Approval - ETHNews.comCoincheck Wins FSA Approval - ETHNews.com

You might also likeRELATED
Recommended to you