The notorious Japanese cryptocurrency exchange Coincheck will be approved by Japan's Financial Services Agency by the end of this year, Nikkei Asia reports.
Previously, in January, Coincheck said that about 500 million NEM coins worth $400 million were lost after the coins were sent “illicitly” outside the venue.
Back then, Coincheck was the largest cryptocurrency exchange in Japan.
Nikkei states the FSA judged that the company upgraded its customer protection and other systems after being acquired by Monex Group in April.
After the hack, Coincheck was twice ordered by FSA to improve its business operations. It’s expected that FSA’s approval will begin the resumption of the agency's approval process. At press time, approximately 200 companies are said to be waiting for licenses.
Earlier, in December, Monex Group revealed that was planning to launch a crypto exchange in the U.S. in the first quarter of 2019. The company’s expansion may take place through its U.S.-based subsidiary Tradestation — already offering online electronic brokerage services to both individual and institutional investors and the trading of Bitcoin futures through the CBOE Futures Exchange.
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