EBCoin to Launch Crypto Exchange in Japan

The Singapore-based company EBC Foundation plans to open crypto exchange in Japan, listing the coins after the end of its crowd sale on February 13, 2018
05 February 2018   574

The EBCoin is a project which aims to improve the refund process at various stages planning to eliminate the need to keep receipts in the form of paper through the digitization of all refund procedures.

Initially, the company planned to open the cryptocurrency exchange KRPEX in South Korea, but the country started implementing various regulatory measures which made EBC Foundation change its mind regarding the country for launching the exchange. EBC Foundation announced that it plans to locate the exchange in Japan as it provides a favorable framework for managing digital assets.

Japan is, without a doubt, considered the global industry leader when it comes to cryptocurrency. We expect the listing of EBCoin on Japanese exchanges to bring us much closer to our goal of making EBC one of the major cryptocurrencies in the market.

Jason Kim
CEO, EBC Foundation

EBC Foundation will make a partnership with Integro Welfare, who will maintain the whole process of registeration and launch of KRPEX, which will also list EBC Foundation’s own EBCoin currency.

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.