14 Korean Exchange to be Vulnerable

Test was ran by authorities from September to December 2018, covered exchanges on 85 criteria
11 January 2019   645

The authorities of South Korea summed up the results of checking 21 cryptocurrency exchanges for compliance with security requirements. According to its results, only seven sites - Upbit, Bithumb, Gopax, Korbit, Coinone, Hanbitco and Huobi Korea - received a positive conclusion from regulators, writes CoinDesk.

The test, which ran from September to December 2018, covered Bitcoin exchanges on 85 criteria. In particular, regulators were interested in administrative, network, system and operational security, as well as the presence of database backups and features of wallets management.

According to the Ministry of Economy and Finance, 14 trading platforms were recognized as “vulnerable to hacker attacks” due to “inadequate network security management.” At the same time, the regulator did not disclose the names of these platforms.

Binance to Open London Office

According to the Changpeng, the decision to open an office in the UK is dictated by regulations recently introduced by the UK FCA, which is "very positive"
08 August 2019   219

Binance Cryptocurrency Exchange intends to open a new office in London in the near future. This was stated by the head of the company Changpen Zhao in a conversation with CoinDesk.

According to the head of the popular exchange, the decision to open an office in the UK is dictated by regulations recently introduced by the UK Financial Regulatory and Supervisory Authority (FCA), which Zhao called "very positive."

I hope we can open an office in London very soon. There is more regulatory certainty now which is good. I thought the U.K. regulation was very neutral and very positive; they were a little bit strict on the derivatives part which I hope they will be more flexible about.

Changpeng Zhao

CEO, Binance

Binance's European expansion began last year. So, first the exchange opened a division in Malta, and then on the island of Jersey.