Monex to Acquire Coincheck, South Korean Bank Supports Crypto Initiatives and Arizona Passes Pro-Blockchain Law

By Samuel Mowers at

Monex to Acquire Coincheck, South Korean Bank Supports Crypto Initiatives and Arizona Passes Pro-Blockchain Law

Monex Group, a Japanese financial services provider, has announced the 100 percent acquisition of cryptocurrency exchange Coincheck today.

The press release explains Monex Group's acknowledgement of the disruptive power of cryptoassets and their intent to integrate blockchain into their company vision.

"We recognize blockchain technology and cryptocurrencies as next-generation technologies and platforms which are likely to drastically change the way people approach money. Therefore, since we announced "MONEX's new beginning" last October, we have considered entering the cryptocurrency exchange business and set up the Monex Cryptocurrency Lab to grow our business based on these new technologies."

The planned execution of share acquisition is planned for April 16, whereupon "directors and corporate auditors will be appointed.

South Korea's second-largest bank, Shinhan, has completed a memorandum of understanding (MoU) with Ethereum-based payments platform OmiseGo. Omise founder and CEO Jun Hasegawa explained the company's vision:

"Omise and OmiseGO are working to revolutionize the way digital value moves globally, with an end goal of creating a platform that facilitates a decentralized economy."

CCN reports that Shinhan has also started developing a bitcoin wallet and vault system. Quoting a translation of a Shinhan representative comment in Naver:

"Shinhan is testing a virtual bitcoin vault platform wherein the private keys of bitcoin addresses and wallets are managed and issued by the bank. The bank intends to provide the vault service for free and charge a fee for withdrawals."

Arizona House Bill 2603, which allows corporations to hold and share data on a blockchain,was signed into law recently. The bill was introduced by Rep. Jeff Weninger along with House Bills 2601 and 2602, which have yet to be passed. In a piece on the subject, Cointelegraph reports:

"HB 2602 and HB 2601 are both awaiting a third reading in the Arizona Senate. The former would prohibit towns from restricting cryptocurrency mining in residences, while the latter aims to address securities and crowdfunding, recognize a "virtual coin" as "a digital representation of value", and authorize its function as a medium of exchange in digital trading."

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