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The Japanese online brokerage firm Monex would consider a takeover of Coincheck in Tokyo, the exchange of cryptocurrency at the center of the market. recent flight of 530 million dollars NEM.
Japanese Financial Publication Nikkei reports an online brokerage offer Monex Group to buy a controlling stake in coincheck cryptocurrency exchange. The offer comes ten weeks after the platform has suffered an infamous hack that is now considered the biggest cryptocurrency swap of all time.
Nikkei claims that Monex is presenting an offer worth “several billion yen” – a billion yen is about 10 million USD – while suggesting that Coincheck has struggling to comply with regulatory requirements and its own January Flying efforts. The exchange, which has faced lawsuits filed by disgruntled investors, has been hit by two business improvement orders from the Financial Services Agency (FSA), the country’s financial regulator. country.
“The agreement with Monex suggests that Coincheck has found it difficult to comply with regulatory requirements and rebuild its operations without external support,” the report says.
The publication claim comes despite the fact that the exchange has kept its promise to distribute repairs to users affected by the NEM flight in mid-March.
Monex shares climbed more than 23% following the report, the maximum allowed by the rules imposed by the Tokyo Stock Exchange to bring the company’s overall market capitalization to 114.3 billion yen ( $ 1.08 billion).
An excerpt from the report added:
The acquisition could allow Monex to quickly obtain a cryptocurrency exchange license by allowing it to rely on customer base and systems. Coincheck Information
The report adds that Monex and Coincheck are now asking the FSA’s approval for the acquisition. If successful, Monex would bring its own management team while the current executives of Coincheck should resign.
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