The hack that was experienced by Japanese Coincheck caused quite a lot of stir. It was named the biggest crypto hack in the history. Everyone herd about it and a lot of people suffered from it. But, as it turns out something good can come out of this unfortunate situation.

Several Japanese crypto exchanges have decided to join forces and create a self-regulating system. There was another try earlier with the same initiative, but it was fruitless. This time everything is more serious, and the initiative is very official.

The creation of the organization, consisting of 16 different exchanges may be announced the next week.

After the hack Japanese exchanges became more careful when it comes to the web safety, as it is still unclear, whether Coincheck will continue its existence.

Earlier the information became public that Japanese government is going to check 15 different exchanges for the proper safety measures. All of the exchanges have filed for the FSA license.