Coincheck Rumored to Get JFSA License, Monex Cautious

According to a report the Japanese Nikkei newspaper, Japan’s Financial Services Agency (JFSA) has decided to approve Coincheck’s application for a cryptocurrency exchange. The report states that an official announcement is set to take place before the end of the year.
In a quick response to the report, Monex Group highlighted that it hasn’t confirmed the matter to the newspaper. The company did, however, confirm that the application of Coincheck is under consideration by the Japanese authorities.
Monex also stated that to date the official registration of Coincheck has not been confirmed. “Moving forward, should there be facts regarding Coincheck, Inc. that need to be disclosed, we will do so in a timely and appropriate manner,” the parent company of the crypto exchange stated.
The Revival of Coincheck
Back in April 2018, Monex announced that it is for a bit over $33 million. The company has committed to rebuilding the trading venue after it got hacked in February as $511 million worth of cryptocurrency got stolen.
At the time of the hack, Coincheck is said to have been the largest cryptocurrency exchange in Japan.
The purchase from Monex helped the company with the rebuilding effort and the experienced team at the helm of the company led by founder who is now Chairman of the Board.
Coincheck has been operating legally in Japan since it received a provisional permit to operate while the Japanese authorities and namely the JFSA are reviewing its operations.
According to the Nikkei newspaper, the prospective official approval of Coincheck could unleash a wave of new regulatory approvals since close to 200 companies are awaiting their licenses.
Monex has for business after thoroughly going through a diligent process of reviewing security and compliance. The Japanese company also announced that it is preparing to launch an in the US.