The financial services Agency of Japan (FSA) has approved a license for cryptocurrency exchange Coincheck, hacked in January of this year. On this day, December 19, reported news outlet Nikkei Asian Review.
According to the Nikkei, an official statement from the financial observer should be released by the end of the year.
It should be noted that unvarsky hacking Coincheck, which was stolen NEM tokens for $532 million was the reason for tightening the internal control of the cryptocurrency exchanges in the country.
Although a license is required for all kryptomere operating in Japan, following the amendment to the Law on payment services in the country in April 2017, the FSA continued to strengthen requirements for applicants throughout 2018. As of mid-October, there were about 160 candidates awaiting a decision on an operating license, and today their number has grown to 200.
After hacking Coincheck has got two directions to improve business from the FSA, with particular emphasis on the improved measures for the protection of clients and anti-money laundering (AML). The exchange has also decided to revise the composition of shareholders and management, becoming a 100% subsidiary of Monex Group .
As reported by Nikkei, Coincheck, under the new leadership Monex, presumably satisfied the requirements of the regulator regarding the measures of protection and other critical systems in order finally to obtain a license. In addition to these improvements, Coincheck has redefinedwhat cryptocurrency it will operate, and also had to pay damages to those customers who suffered from hacking.