News

Coincheck is planning its comeback to Japan

A crypto exchange Coincheck is planning its comeback to Japan.

The cryptocurrency exchange spent «heavily» to improve security following the hack in January. Coincheck was acquired by Japanese online brokerage Monex Group in April. Oki Matsumoto, CEO of Monex, said he expects Coincheck to secure an official license in Japan in June. He added that a plan to bring the crypto exchange to America is also being considered.

«Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token and attracting institutional investors, the U.S. and Europe are moving ahead», – Matsumoto said in an interview.

Meanwhile, traders are awaiting a decision by USA authorities on whether to classify cryptocurrencies as securities, commodities, or something else.

According to Matsumoto, the development could potentially create the regulatory clarity necessary to attract more investors to cryptocurrencies.

«What the U.S. decides will have a huge impact on Japan», – he added.