Owning a Japanese cryptocurrency exchange Coincheck online broker Monex Inc intends to obtain a license from the Japanese authorities and to expand its business to the US market. According to Bloomberg, this could happen within the next month.
According to the CEO: Oki Matsumoto, in the Japanese market, the exchange is facing problems in classification of securities and in attracting institutional investors. He also criticized high taxes on cryptocurrency transactions, in some cases reaching 55%.
“In Japan it is hard to even think about enabling cryptocurrency portfolio. In such circumstances, the digital assets will remain a plaything in the hands of speculators”, he added.
Matsumoto is convinced that us regulators now play a key role in determining the industry development of cryptocurrency.
“When they are defined, can cryptocurrency be deemed to be securities, the market will be clarity and certainty, and with them opportunities for further growth and attract institutional investors”, — he said.
We will remind, the transaction on acquisition of the exchange Coincheck company Monex took place in April of this year. Subsequently, the stock price Monex increased by 98%.