Japanese Watchdog to Check 32 Exchanges

Financial Service Agency of Japan will test exchanges at 43 different point
05 February 2018   565

Japanese Financial Service Agency announced the check of 32 local cryptocurrency exchange. This is reported by Bitcoin com.

The inspection will affect 16 cryptoexchanges, which have already applied for licenses in the FSA. Also, the agency will check the activities of the other, already licensed trading platforms.

The agency will test the activities of cryptoexchange at 43 different points, which include aspects related to risk management, cybersecurity and ensuring the safety of users' funds.

In September last year, the Agency granted applications for a license for 11 local crypto-exchanges. Among them:

  • Money Partners,
  • Quoine,
  • Bitflyer,
  • Bit Bank,
  • SBI Virtual Currencies,
  • GMO Coin,
  • Bittrade,
  • Btcbox,
  • Bitpoint,
  • Fisco Virtual Currency
  • Zaif.

After that, in December, these Japanese trading platforms were licensed 

  • Tokyo Bitcoin Exchange,
  • Bit Arg Exchange Tokyo,
  • FTT Corporation,
  • Xtheta Corporation, 
  • Bitocean Corporation

The following exchanges are currently awaiting licensing:

  • Minnano Bitcoin,
  • Payward Japan,
  • Lemuria Bitcoin Exchange (Bitcrements),
  • Campfire Corporation,
  • Tokyo Gateway,
  • Lastroots Corporation,
  • Debit,
  • Eternal Link,
  • FSHO Corporation,
  • Kirin Corporation,
  • Bit Station,
  • Blue Dream Japan,
  • Mr . Exchange,
  • Bmex Corporation 
  • Bitexpress Corporation.

Shortly after the hacking of the large crypto-exchange Coincheck, the Japanese regulator checked the financial condition and reliability of the security systems of the trading platform. FSA obliged the management of the Exchange to strengthen the reliability of security systems and by February 13 to provide the department with a report on the work done. 

Sparkpool to Freeze $300k Reward

As reported, pool suggests that such a high commission could have been paid by someone in error and is considering the possibility of a refund
20 February 2019   68

The Sparkpool mining pool decided to freeze the remuneration in the amount of 2,103,1485 for the extraction of block # 7,238,290. The management of the organization suggests that such a high commission could have been paid by someone in error and is considering the possibility of a refund, CoinDesk reports.

The head of the Sparkpool Xin Xu argues that users of the pool understand and agree with the decision, given the size of the amount involved.

Unfortunately, and fortunately, blockchain is so far not completely run by machines; human are still involved. So we have an opportunity to correct the problem. Integrity is our pool’s priority.

Xin Xu

CEO, Sparkpool

While some users suggested that a large commission was paid by mistake, others admitted that this could be a goodwill gesture from an anonymous donor to the community of the miner or even an attempt to launder money through the blockchain cryptocurrency.