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Business deals

Monex chief says cryptocurrency risks are 'manageable'

Online brokerage aims for June regulatory approval of Coincheck and eventual IPO

Monex CEO Oki Matsumoto, left, and Coincheck CEO Koichiro Wada meet reporters in Tokyo on April 6. (Photo by Tsuyoshi Tamehiro)

TOKYO -- Japanese online brokerage Monex Group said on Friday it will try to obtain regulatory approval for Coincheck, the cryptocurrency exchange it bought for 3.6 billion yen ($33.6 million), and restart its operations in two months.

"Considering the improvements in the internal control system by Coincheck and progress in making payments, we believe we can obtain approval within two months," Monex chief executive Oki Matsumoto said at a Tokyo news conference.

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