It what could be termed as a major development, if and when it happens, one of the largest stock brokers in Japan, Monex Inc, is seriously considering buying a stake in the large cryptocurrency exchange Coincheck. There has been no confirmation of the move as yet and most of it has only been speculation so far.
It has to be noted that Japan is one of the countries that view cryptocurrencies in a favourable way and the regulators in that country have gone out of their way to ensure that the industry is prolerly regulated and the bad companies and exchanges are weeded out. They have been moving fast to ensure that the industry gets fully regulated so that it can be considered on par with the stock market industry and they have been making some large strides in that.
This has opened up the possibility for large companies to consider such acquisitions and deals in a favourable manner as they know that they are dealing with a regulated company in a regulated industry. Monex has been a large player in the stock brokerage industry and has a huge retail base and if and when they do make the decision to invest or buyout Coincheck, it is likely to be a shot in the arm for the crypto industry which has been craving for recognition for quite some time now. This rumor was welcome even by the large crypto exchange Binance which could see this move as a potential challenge to its domination of the exchange industry.
That has been hard to come by with regulators of many countries trying to crack down on the industry in a bid to silence the traders and the ideals that the industry stands for. It should also be noted that Coincheck was the exchange that had suffered a hack on its NEM wallets in January which it volunteered to reimburse to most of the traders in a move that was appreciated by many of the industry experts. It was also a move that highlighted the need for increased security in this industry especially in the exchanges where it was lax.
