EU Countries to Sign Blockchain Development Declaration

The project participants intend to exchange experience and knowledge in the technical and regulatory sphere
11 April 2018   373

More than 20 EU countries signed a declaration on the European partnership in the field of blockchain technologies. This is reported by RIA News with reference to the press service of the European Commission.

The project participants intend to exchange experience and knowledge in the technical and regulatory sphere, to prepare the launch of unified applications for the EU using distributed ledger technology for the public and private sectors.

In order to take advantage of the opportunities of blockchain technologies and to avoid a fragmented approach, the participants of this declaration agree to cooperate in the creation of a European partnership for the development of the blockchain infrastructure that will help to improve trustworthy and user-oriented digital services within a single market.

EU Declaration

The agreement provides that the first cross-border actions should begin by the end of 2019.

Earlier it was reported that the European Commission intends to invest about 300 million euros in projects that support the use of blockchain technology.

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   70

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.