The move, which is yet to officially confirmed, came shortly after seven cryptocurrency companies in the UK formed a cryptocurrency trade body, bringing the first self-regulation to the industry. Reports also recently suggested that a group of Japanese cryptocurrency exchanges are uniting to create a self-regulating body. Policymakers in Japan are rumored to be concerned that some countries have ‘less stringent rules’ when it comes to preventing money laundering via digital tokens according to CNBC, which cited a government official with direct knowledge of the matter. Monex added that Coincheck is in the process of improving its governance and internal controls after receiving an order from the Kanto Local Finance Bureau following the January breach.Įarlier this year, Japan was reportedly set to urge its G20 counterparts to bolster its efforts to prevent cryptocurrencies from being used for money laundering. Some reports that English-language support is slow to respond. More users also make use of Coincheck’s Android and iOS apps than those of any other Asian exchange. A lot of hackers have successfully attacked exchanges in the past The recent Coincheck exchange shows how easy. is one of Asia’s biggest cryptocurrency exchanges and processed the highest volumes of Bitcoin trading in Japan over the course of 2017. Coincheck Cons The exchange suffered the worst hack of any cryptocurrency exchange in history, with losses of 530 million in NEM coins surpassing the Bitcoin losses suffered at Mt. Cryptocurrency thefts are nothing new these days. Therefore, the Company has resolved on 100% share acquisition of Coincheck who has been a pioneer among cryptocurrency exchanges.” Coincheck has a payments platform, which is a good revenue diversifier. In an announcement the company said: “The cryptocurrency exchange business plays a core part in a vision of ‘Monex new beginning’. Monex has confirmed a deal is in place to acquire cryptocurrency exchange Coincheck, with a report from Nikkei Asian Review indicating that Monex has aired plans to obtain regulatory approval for the purchase, with the aim of a June relaunch. His statements come shortly after Monex was linked with the purchase of Coincheck, a Japanese cryptocurrency exchange that lost around $530m worth of customers’ XEM (the native token of the NEM network) in a breach earlier in the year. He added that it’s ‘common sense that regulations will get stricter.’ Read this detailed review on Coincheck, compare 500+ other crypto exchanges in our Exchange List, or use our Exchange Filters to find the right exchange for you. In an interview with Reuters, Oki Matsumoto said that Japan’s exchanges are ‘close to a bank’ as they do matching and custodial service. Crypto Exchange List / Reviews Coincheck. The CEO of Monex Group, a Japanese online brokerage, thinks Japan’s cryptocurrency exchanges should be regulated more strictly. Coincheck crypto exchange review 2022 with rating, trading volumes, supported coins, pairs available for trading, trading fees and more.
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