QUOINE Corporation, a subsidiary of the Liquid cryptocurrency exchange, has received a license under the Financial Instruments and Exchange Act to offer cryptocurrency derivative trading services in Japan. Seth Melamed, Liquid COO, said in an announcement that the approval is a validation that "trading derivatives in crypto can be done in a compliant manner with full customer protections."
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"The Type 1 license issuance is the culmination of a great deal of preparation and collaboration by the entire Liquid team," he added.
The approval comes just two months after Liquid suffered a hacker attack, losing over $90 million in various cryptocurrencies. Later, iHodl reported that the so-called "warm wallet MPC function" has been allegedly compromised. Shortly after the hack, Liquid attracted $120 million from FTX as debt financing. The exchange said the proceeds would provide it with "critical liquidity" and "strengthen its capital position."
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