Japan May Initiate Unscheduled Exchage Check

An anonymous source toldĀ the investigation of the authorities affected the Fisco and Huobi Japan due to the alleged structural changes in the management
23 April 2019   725

The Financial Services Agency of Japan (FSA) has begun an unscheduled check of two local crypto exchange for their customer protection standards and legal compliance. It is reported by the Cointelegraph, citing Reuters Japan.

An anonymous source told reporters that the investigation of the authorities affected the Fisco and Huobi Japan exchanges. Apparently, the regulator paid close attention to these platforms due to the alleged structural changes in the management of the companies.

Note, at the end of last year, the Bitcoin exchange operator Zaif transferred the business to the investment company Fisco after the platform was hacked in the fall.

According to an anonymous informant, the FSA was also interested in anti-money laundering measures taken by the exchanges. During the test, the regulator considered them insufficient.

In February, the National Police Agency of Japan reported that money laundering with the help of cryptocurrencies increased 10 times in the country.

Huobi to Launch Zero Fee Trading App

It features such fiat currencies as the US dollar, Vietnamese dong, Malaysian ringgit, Hong Kong dollar, and Chinese yuan
11 March 2020   373

Huobi Exchange on Tuesday unveiled its new mobile application for uncommissioned cryptocurrency trading.

Huobi Lite is available for Android and iOS devices. It features several fiat currencies, including the US dollar, Vietnamese dong, Malaysian ringgit, Hong Kong dollar, and Chinese yuan. To replenish the account, several payment methods are offered, including credit cards, the company says. According to Decrypt, Huobi Lite's main target group is traders in Southeast Asia.

Of the digital assets, Bitcoin, Ethereum, USDT, HT, EOS, Bitcoin Cash, XRP, Litecoin and HUSD are supported. In the future, Huobi promises to expand this list.

According to the exchange, Huobi Lite does not require a long identification, and "a user can buy his first bitcoin in less than 5 minutes." They promise not to request any documents from customers if their trading volume does not exceed $ 1,000 per day. In addition to buying cryptocurrencies, the application can be used to store and manage your portfolio.

The Huobi Lite commercial model is based on commissions, but they will not be charged to users, but to brokers and market makers selling cryptocurrency through the application.