Japan to put BTC exchanges under full surveillance

Japan to put Bitcoin exchanges under "full surveillance" from October
25 September 2017   519

The Financial Services Agency of Japan (FSA) is to closely monitor the strict observance of the requirements of the legislation on the use of cryptocurrencies by the exchanges from the next month, as reported by japantimes.co.jp.

According to the newspaper, the purpose of the control strengthening is the need to ensure that the crypocurrency companies will comply with the requirements of the revised law on payment services, adopted in April this year. The law sets operating standards for crypto exchanges and recognizes Bitcoin as a legitimate means of payment.

The surveillance is intended both to regulate the exchanges and to ensure the healthy growth of the cryptocurrency market:

We pursue both market fostering and regulation enforcement. ... We aim for sound market development.

FSA executive

Thus, the FSA has also established a 30-member team specifically to carry out surveillance of virtual currency exchanges in the country. As cnn.com reported earlier, the oversight and scrutiny by Japanese authorities was to be expected so as to avoid any scenario of a Mt Gox-like collapse in the country.

HTMLCoin swap process comes to an end

On March 27 HTMLCoin finalizes the swap procedure of old HTML5Coin into HTMLCoin at a rate 3:1 and thus the migration to a new blockchain will be officially completed
21 March 2018   30

In full accordance with the swap schedule, March 27 marks the end of the swap procedure of the old HTML5Coin token into new HTMLCoin token. This final stage of the swap that lasted roughly 14 days is considered to be late stage and thus the rate is 3 (old) : 1 (new).

A special web form was prepared so that the users could fill it out and perform the swat themselves (therefore it was called 'Self-swap service'). The users can use this form for both the HTML5Coin wallet addresses and YoBIT exchange withdrawal code called 'Yobit code'. The HTMLCoin team warns that sometimes the YoBIT exchange withdrawal function may not work and recommends repeating the procedure later or contact HTMLCoin support for help with the withdrawal.

The actual swap are going to be handled on Saturday, March 31. The official end date of the swap procedure is set on March 28. This swap is due to the migration of HTMLCoin to a new blockchain with new features for freelancers and segregated minorities (e-learning programs, job hunting and connections, freelance mobile app). These rich features all aim to empower freelancers and vulnerable communities to new bold opportunities, learn new skills and apply them immediately. Freelancers-Business platform is set to connect companies and freelancers to help adopt these innovative concept.

As of the moment of publication, the HTMLCoin market indicators are as follows:

Average price: $0.000541

Market cap: $35,579,234

Volume (24h): $70,079