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Report: Hacked Japanese cryptocurrency exchange service gets license


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Report: Hacked Japanese cryptocurrency exchange service gets license

Japan's Financial Services Agency has granted Coincheck a cryptocurrency exchange license following a major hacking incident earlier this year, The Nikkei reported Dec. 19.

The regulator said the Tokyo-based bitcoin wallet and exchange service has enhanced its customer protection and other systems after being acquired by Monex Group Inc. in April.

An announcement will be released by end-2018, the report said.

In January, Coincheck suspended trading in all cryptocurrencies except bitcoin after hackers stole ¥58 billion worth of the virtual currency, which left its clients without a sell option.

The FSA ordered Coincheck twice to improve its business operations particularly with regard to customer protection and money laundering.

Coincheck has since paid ¥46 billion in compensation to clients, the report said.

As of Dec. 19, US$1 was equivalent to ¥112.20.