Crypto Exchanges of Chile to be Belligerent for the Bank

Banco del Estado de Chile declared that they would deny to service accounts of cryptocurrency exchanges, but decision is now appealed against
16 April 2018   539

Banco Estado is the only public bank of Chile. It is recognised as the safest bank in Latin America. Its recent report reflects upon a majority of solutions making in Latin America. Their solve on closing cryptocurrency exchange accounts reveals the trouble brewing for cryptocurrency around South America. Two other large banks, Itau Corpbanca and Bank of Nova Scotia have already restricted the accounts of the three crypto exchanges.

Banco Estado has decided not to interact with companies that issue or generate cryptocurrencies, that provide brokerage and intermediary services with cryptocurrencies, and do not serve as a platform for crypto exchange transactions.
Banco del Estado de Chile, public bank, Chile

Nevertheless, Buda, Orionx, and Cryptomkt are appealing against this resolution. 

We are going to sue the TDLC to all the banks that denied or hindered the opening of current accounts to these companies and to those who, having opened them, closed them. Here are the majority of the banks in the square.
Mario Bravo, lawyer, helping the crypto exchanges, Chile

Latin Crypto exchanges are picking up in demand of trading. Buda, for example, facilitates approximately USD 1 million worth of cryptocurrency every day. The decision of closing cryptocurrency accounts will end the industry, according to the point of view of Buda’s co-founder and CEO.

They’re killing an entire industry. It won’t be possible to buy and sell crypto in a safe business in Chile. We’ll have to go back five years and trade in person. It seems very arbitrary.  
Guillermo Torrealba, Buda’s co-founder and CEO, Chile

Orionx is also going against this decision by continuing suggesting trades for crypto to crypto pairings. On April 5th, Chile’s Financial Stability Council showed negative mood of cryptocurrency. The restrictions on cryptocurrency could have been at the request of the Chilean government. 

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.