Recently re-opened Japanese crypto exchange Coincheck has announced it has resumed WDS_LINK_PLACEHOLDER_0ed9f283edda7fee72c1a3f377202f53 (XEM) crypto token trading after a restructuring of its platform by external “security experts,” South Korean news outlet FNNews reports Nov. 13.
This latest development from Coincheck reveals the exchange has “joined the Japan Security Association and is “ready to renovate its image.” Alongside WDS_LINK_PLACEHOLDER_0ed9f283edda7fee72c1a3f377202f53 trades, the platform has also opened support for Ethereum (ETH) and Lisk (LSK).
Coincheck is quoted as saying that “technological safety has been verified through cooperation with external experts on WDS_LINK_PLACEHOLDER_0ed9f283edda7fee72c1a3f377202f53, Ethereum, and Lisk handling (on our exchange).”
The latter is a self-regulatory body that sets rules to protect customers’ assets, elaborates on anti-money laundering (AML) policy, and gives working guidelines to domestic crypto exchanges. The impetus for its formation this April was in fact sparked by the industry aftershocks of the high-profile Coincheck incident.
The watchdog demanded “drastic” reforms to the exchange’s management system, enhanced AML and counter-terrorism financing (CFT) measures, and revised assessment criteria for the risks for each crypto offering.
Monex’s fiscal results published late Oct. revealed that Coincheck had seen a 66 percent decline in revenue for Q3 2018. FNNews cites Monex as today saying that it has “made clear” its “commitment to normalization.”
On Oct. 30, Monex announced it had reopened new account signups and limited trading on Coincheck, beginning with purchases and deposits of Bitcoin (BTC), Ethereum Classic (ETC), Litecoin (LTC) and Bitcoin Cash (BCH).