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Disclaimer: In the hours following publication, Monex Group issued a statement in response to media coverage of the alleged decision to approve the Coincheck license. This article has been updated to include this answer.
The Financial Services Agency (FSA) of Japan has approved an operating license for the exchange of cryptocurrencies for Coincheck. The Asian language publication focused on the Asia Nikkei Asian Review reported the news on December 19.
According to Nikkei, according to reports, the announcement of financial control should be published by the end of the year. In particular, in private correspondence with Cointelegraph Japan, Coincheck's PR stressed "it is not [the exchange’s] official announcement and we have not yet confirmed the fact. "
The same Monex Group issued a statement in response to the article of the Nikkei Asian Review, clarifying that the news "was not based on our announcement":
"Coincheck, Inc. has been reviewed for a cryptocurrency exchange [license]. However, there is no data concerning the registration that has been determined. Going forward, if there are any facts regarding Coincheck, Inc. that need to be disclosed, we will do it in a timely and appropriate manner. "
As previously reported, the FSA has stepped up control of national cryptosystems in the wake of the $ 532 million record theft of NEM tokens from the Coincheck portfolios in January.
While a license has been mandatory for all cryptographic power plants operating in Japan after the amendment of the Payment Services Act in April 2017, the FSA continued to increase the requirements for applicants throughout 2018; About 160 applicants were reported to still be awaiting a decision on an operating license in mid-October, and up to 200 today, according to Nikkei.
Following the January hack, Coincheck received two orders for business improvement from the FSA, with a focus on improving customer protection and anti-money laundering (AML) measures. The exchange also decided to reconfigure the composition and management of shareholders, becoming a wholly owned subsidiary of Monex Group in mid-April.
Under the new management of Monex, Nikkei argues that the FSA considered that protection measures and other critical systems on the stock exchange have been sufficiently improved to justify a new license. Alongside these improvements, Coincheck has reviewed the cryptocurrencies it will manage and has also reimbursed customers interested in the hack.
In mid-November, Coincheck resumed NEM trading and opened support for Ethereum (ETH) and Lisk (LSK). He also joined the Japan Network Security Association in an attempt to "renew his image".
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