FSA s Priority Report benefits of bitcoin online casino

Zaif Halts New Memberships

Osaka-based crypto exchange Zaif, one of the 16 regulated crypto exchanges in Japan, has suspended signing up new members. “We chose to temporarily stop accepting new membership registration at 21 o’clock on September 28,” Zaif’s operator, Tech Bureau, announced Friday. The company clarified,”Clients who are waiting for registration, such as being already in the process of identity verification by applying for membership registration, will enroll as usual as a member,” adding:

We’re responsible for recovering the harm to all existing customers who were victimized by the money outflow that is virtual that is current, but to do so, [we need] to focus our internal resources.

Zaif was murdered on Sept. 14 but the violation wasn’t discovered until Sept. 17. The total damage is estimated to be about 7 billion yen (~$62 million). Tech Bureau claims that roughly 5,966 BTC, 42,327 BCH, and 6,236,810 MONA were stolen and casino games gametwist casino. The nation’s Financial Services Agency (FSA) has issued the company a third business improvement order.

Bitflyer’s Overhaul

Bitflyer announced Monday, Oct. 1, a change in the company’s organizational structure. “Today marks the establishment of the holdings company, Bitflyer Holdings Inc.,” the company announced. Bitflyer Inc., which operates Japan’s largest crypto market,”has turned into a wholly-owned subsidiary of Bitflyer Holdings Inc. by way of a stock transfer.” In a joint statement, Bitflyer Inc. and Bitflyer Holdings Inc. explained,”Everybody will be able to use our services and trade just as they always have,” noting:

The purpose for creating a holdings company is to separate operational and administrative purposes, to clarify the duties and responsibilities of each job, to strengthen corporate governance, and to produce a more thorough compliance structurebetchain review 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 topics identified, we have voluntarily and temporarily suspended the onboarding of new clients,” the exchange explains on its site.

With the establishment 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..

Self-Regulatory Plans

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 handled online,” citing unnamed sources. Members of the association are the 16 crypto exchanges, including Bitflyer and Zaif. The group has filed for certification with the FSA to become an organization that can legally enforce self-regulation on its members. The information outlet added that according to the sources:

The ceiling is very likely to be around 10 to 20 percent of customer deposits.

The team has been working on implementing self-regulation and was established in response to the hack of Coincheck. With the hack of Zaif, the team”intends to tighten self-regulatory measures 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 is 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 regulated crypto trades and three deemed providers obtained by the Jvcea, 81.6 percent of all crypto trades going through these trades are”margin or potential trading.” Meanwhile, 18.4 percent are spot trading. Deemed providers are exchanges which were allowed to operate in Japan while their applications are still being reviewed by the bureaufortune review Japan has a total of Lastroots, Coincheck three deemed providers, and the Bitcoin of Everybody.

In its report, the FSA reveals that it will”Tighten registration screenings and monitoring, due to issues found in reviews,”"Review certification applications prepared by self-regulatory associations and encourage them to attain the early establishment of the self-regulating function,” and”Lead the discussion for global collaboration to form regulations as the chair of the G20 in 2019.”

What do you consider the developments in Japan? Let us know in the comments section below.

Images courtesy of Shutterstock, Japan’s FSA, Zaif, and Bitflyer.

Need to calculate your bitcoin holdings? Check our tools department.

Source: bitcoincasinoreview.net

Вы можете оставить комментарий, или ссылку на Ваш сайт.

Оставить комментарий

Вы должны быть авторизованы, чтобы разместить комментарий.