Media: Hacked Crypto Exchange Coincheck Gets Licensed By Japanese Regulator The Japan Financial Services Agency (FSA) has issued an operating license to cryptocurrency exchange Coincheck, local newspaper Nikkei Asian Review reports. According to him, the regulator will make an official announcement on this matter before the end of the year.

Media: Hacked Crypto Exchange Coincheck Receives Japanese Regulator License

Japan Financial Services Agency (FSA) Issued Operating License cryptocurrency exchange Coincheck, according to a local publication Nikkei Asian Review. According to him, the regulator will make an official announcement on this matter before the end of the year..

Coincheck was hacked in January this year when over $ 500 was stolen from its wallets million in cryptocurrency NEM. Following this, the FSA initiated a large-scale audit of cryptocurrency exchanges in the market under its control..

While a license is a prerequisite for providing cryptocurrency exchange services in Japan, the FSA has tightened requirements for applicants amid recent developments. As of mid-October, the regulator's response was expected 160 companies, and today there are about 200 of them, according to Nikkei.

After the incident on its platform Coincheck received two executive orders to improve operational processes, protect customers, and combat money laundering. In mid-April, the exchange was bought by the brokerage company Monex Group.

According to the Nikkei, the FSA re-evaluated Coincheck's defenses and other critical systems and found that they had been improved enough to warrant the company's license. Among other things, the exchange made adjustments to the list of cryptocurrencies presented on its platform and compensated for the losses of users.

 

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