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The Financial Services Agency (FSA) of Japan has approved the license for the exchange of cryptocurrency for the previously compromised Coinked exchange.
The British arm of the Japanese publication Nikkei reported on December 19 that the Japanese regulator approved the license for Coincheck after the revision of the law on the liquidation of the fund. Coincheck is the largest exchange of Cryptocurrency in Japan at the time was violated in January this year for 58 billion yen ($ 511 million).
Coincheck was forced to stop operations after hacking at the start of this year, where hackers managed to steal more than half of the $ 1 billion NEM token (XEM). The Tokyo-based exchange has remitted its customers all the funds lost and has also improved terms and conditions and other systems.
After being acquired by the Monex group, Coincheck not only changed the anti-money laundering measures (AML), but also resumed its operations by accepting new account registrations.
The FSA has made it mandatory to obtain a license to manage an exchange from April 2017. It is expected that over 200 companies will wait for licenses from the FSA, "The FSA's decision to grant a license to Coincheck should lead to the resumption of the approval of the "Nikkei Reports Agency.
The FSA has also recently published a draft report describing the Cryptocurrency and ICO (Initial Coin Offering) regulations.
Take of Blockmanity
This step of the FSA to approve a license to Coincheck could give a good boost to the cryptocurrency market in Japan.
Image source: Flickr
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