Banking Group SBI Postponed the Launch of a Crypto Exchange

In order to boost security measures, Japanese banking giant SBI Group again postponed the launch of a cryptocurrency exchange  
28 February 2018   471

According to the announcement, despite the fact that SBI Virtual Currencies platform has already started offering account registrations to certain priority investors, the launch of crypto exchange will be delayed. SBI will postpone applications from ordinary customers and push the date of the start of trading.

The reasons for the delay is that the platform needs more time to strengthen security measures and to determine how to manage asset custody and finalize its customer management system.

In October 2016, SBI announced its plan to establish SBI Virtual Currencies. It completed business registration with Japan's Financial Services Agency (FSA) in September 2017. But in December of last year, the firm postponed its schedule for accepting account registrations from the general public.

The latest delay comes after FSA increased its scrutiny over Japan's cryptocurrency exchanges regarding security issues.

Korea May Issue New Crypto Regulation Soon

Ass reported, during the period from July 13 to 26 members of political parties will present their proposals on regulating the sphere of cryptocurrencies
12 July 2018   170

In the coming days, the National Assembly of South Korea, presumably, will consider a number of legislative initiatives related to the regulation of the cryptocurrency.

As reported by The Korea Times, during the period from July 13 to 26 members of a number of political parties of the country will present their proposals on regulating the sphere of cryptocurrencies, the ICOs and blockchain.

According to the source, among others, the representative of the ruling Democratic Party Pak Jon-ji and representative of the leading opposition party "Free Korea" Chun Tae-ou will present their bills.

It is expected that many bills will be considered these days, but it is unknown exactly how the process will proceed. The Korea Times notes that members of the National Assembly "remain mostly scattered" when discussing the problem of cryptocurrency.

In any case, this initiative should serve as a catalyst for a new debate on the status of the country's cryptocurrency, whose population shows an increased interest in this market.

Another member of the National Assembly will hold another event this month, which can also affect the fate of the country's exchanges. The representative of "Free Korea" Song Hy-kun will participate in the debate with the Korean Agency for Internet and Security regarding the safety of local crypto exchanges. The event is organized in the light of the recent hacking of Coinrail and Bithumb.