junio 13, 2017 | Posted in:Blog
Zaif Halts New Memberships
One of the 16 crypto exchanges in Japan, crypto exchange Zaif, has suspended signing up new members. «We decided to temporarily stop accepting new membership enrollment at 21 o’clock on September 28,» Zaif’s operator, Tech Bureau, announced Friday. The Business clarified,»Clients who are waiting for registration, such as being already in the process of identity verification by applying for membership registration, will register as usual as a member,» adding:
We’re responsible for recovering the damage to all existing customers who were victimized by the current currency outflow that is digital, but to do so, [we need] to focus our resources.
Zaif was murdered on Sept. 14 but the breach was not discovered until Sept. 17. The total damage is estimated to be approximately 7 billion yen (~$62 million). Tech Bureau claims that approximately 5,966 BTC, 42,327 BCH, and 6,236,810 MONA were stolen and casino games gametwist casino. The country’s Financial Services Agency (FSA) has issued the company a third business improvement order.
Bitflyer announced Monday, Oct. 1, a change in the business’s organizational structure. «Today marks the establishment of the holdings company, Bitflyer Holdings Inc.,» the company announced. Bitflyer Inc., which operates Japan’s biggest crypto market,»has turned into a wholly-owned subsidiary of Bitflyer Holdings Inc. by means of a stock transfer.» In a joint statement, Bitflyer Inc. and Bitflyer Holdings Inc. clarified,»Everyone will be able to use our services and transaction just as they always have,» noting:
The purpose for creating a holdings company is to separate administrative and operational purposes, to describe the duties and responsibilities of each function, to strengthen corporate governance, and to create a more thorough compliance arrangementfree bonus no deposit bitcoin casino bitcoin live casino usa June 22, Bitflyer Inc. halted new account registrations after it had been issued a business improvement order by the FSA. «In order to maximize our efforts towards building a suitable service and improving on the issues identified, we have voluntarily and temporarily suspended the onboarding of new clients,» the market explains on its website.
With the institution of the holdings company, Yuzo Kano has stepped down as the representative director of Bitflyer Inc. to become the CEO of Bitflyer Holdings Inc.. Nobuyoshi Suzuki from Mitsui Bank Ltd has been appointed the new representative director of Bitflyer Inc..
On Sunday, Sept. 30, Jiji Press reported that the Japan Virtual Currency Exchange Association (Jvcea)»will set a ceiling on the amount of digital currencies managed online,» citing unnamed sources. Members of the association are the 16 controlled crypto exchanges, such as Bitflyer and Zaif. The group has filed to develop into a company that can legally enforce. That was added by the news outlet according to the sources:
The ceiling is very likely to be around 10 to 20 percent of customer deposits.
The group was established in response to Coincheck’s hack in January and has been working on implementing self-regulation. With the hack of Zaif, the team»plans to tighten self-regulatory steps it follows on the management of customer assets,» the novel described. The news outlet further detailed that the group»will shortly revise the self-imposed rules, drawn up in July, and implement them once it’s certified by the Financial Services Agency.»
FSA’s Priority Report
The FSA published a report entitled Financial Services Policy: Assessments and Strategic Priorities 2018 on Wednesday, Sept. 26.
The agency revealed that based on data of 14 controlled crypto exchanges and three deemed providers obtained from the Jvcea, 81.6 percent of all crypto trades going through these exchanges are»margin or future trading.» Meanwhile, 18.4 percent are spot trading. Deemed providers are exchanges which have been permitted to operate in Japan while their applications are still being reviewed by the agency Japan now has a total of Lastroots, Coincheck three deemed providers, and the Bitcoin of Everybody.
In its report, the FSA shows that it will»Tighten registration screenings and monitoring, due to issues found in reviews,»»Review certification applications ready by self-regulatory organizations and encourage them to achieve the early establishment of the self-regulating function,» and»Lead the discussion for global cooperation to form regulations as the chair of the G20 in 2019.»
What do you consider the improvements in Japan? Tell us in the comments section below.
Images courtesy of Shutterstock, Japan’s FSA, Zaif, and Bitflyer.
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