The cryptocurrency exchange Coincheck has been granted a regulator's license in Japan. Company representatives noted that after the hack in January 2018, during which more than 530 million dollars were lost, it was acquired by Monex Group, which invested around 33 million dollars.
The Coincheck crypto exchange was registered by Japan's Financial Services Agency at the end of December last year, but only now has it been able to operate at full capacity. Company representatives noted that due to losses they had to significantly cut staff, but this did not make it possible to initiate the company's profitability. For licensing, the platform had to submit data on its business description, risk management philosophy, development plans and other internal information. "We have been working toward resuming operations throughout the year, but were never able to fully get back on track. After obtaining a license from the regulator, there is an opportunity to expand the scope of operations, increasing staff and gradually switching to new equipment. In addition, we are preparing to attract investors and traders, which is important for the development of any exchange," the platform's representatives noted.
The incident with Coincheck became one of the main reasons for amendments to Japanese legislation, which require the registration of such businesses. Oki Matsumoto, who is the head of Monex Group, noted that the cryptocurrency market should have the same control criteria as the banking sector.
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