Brazilian Crypto Brokers Launch Crypto Association

The association created by Atlas would become an opponent of previously formed Brazilian Crypto-Economy Association (ABCripto)
16 April 2018   514

According to the information published on Portal do Bitcoin, the Atlas Project is launching the Association of Cryptocurrency and Blockchain (ABCB), represented by major cryptocurrency exchanges. Atlas adopts the best practices for the security of crypto assets, including operations in reliable exchanges and constant realization of invasion tests and stability in the system.

The association created by Atlas would become an opponent of previously formed Brazilian Crypto-Economy Association (ABCripto), which is represented by such crypto exchanges as Bitcoin Market, Foxbit, Bitcointrade, Walltime, Braziliex and FlowBTC. Both of associations have a goal to defend the interests of cryptocurrency holders and traders in Brazil.

ABCB will defend the cryptocurrency markets in Brazil, defend privacy and regulations that will not end innovation. There is legal uncertainty. Depending on the purpose, it may be considered a means of payment or a financial asset.

Fernando Furlan

President, ABCB

Reportedly, Natalia Garcia, a vice president of ABCripto and a legal director of Foxbit, stated that she had no idea that the competitor organization was being formed. Nevertheless, there is a chance that both associations will become partners in the future.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   82

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.