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Japan's Coincheck to gain license after $500m hack

Regulators to hold cryptocurrency exchanges to higher standards

coincheck monex
Coincheck has improved its management system under Monex Group, the Financial Services Agency has decided.   © Reuters

TOKYO -- Japan's Financial Services Agency has decided to approve Coincheck's cryptocurrency exchange license, Nikkei has learned.

An announcement will come by the end of the year, closing a tumultuous chapter in Coincheck's history that began back in January when 58 billion yen ($511 million) worth of clients' cryptocurrency holdings was stolen.

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