Japan’s FSA defines policy on cryptocurrencies and ICOs

The Japanese Financial Services Agency announced a document clarifying its financial administrative policies on cryptocurrencies and initial coin offering
20 November 2017   1496

FSA has recently published 41-page document on financial policy. There is the unit on Bitcoin and other cryptocurrencies.

First topic of discussion was providing protection of crypto-exchanges. As cryptocurrencies utilizing Blockchain technology, “which was not seen before,” agency claimed that both business and system management required.

The agency decided to “look at the trends in the currency market” and ensure that each operation took place at exchanges. FSA also pays its attention to the balance between the promotion of innovation and the protection of users, noted that it is necessary to monitor whether the system is in place, they will respond to changes in the environment surrounding the virtual currencies for protecting users, such as verifying appropriate explanation or information provision for users is in place.

FSA tries to provide high-level security to users “through safe and stable system operation and fraud prevention.” It will be provided by verifying whether risk management has already been installed at crypto-exchange.

The Agency also will struggle against such crime acts like money laundering.

 

Huobi to Launch Prime Lite IEO Platform

Huobi Prime Lite is a “niche project” with some tokensale differences from Prime platform and the first project on it will be ThunderCore
24 April 2019   88

Huobi will launch an improved initial exchange offer (IEO) platform called Prime Lite.

Representatives of the company note that Huobi Prime is a “niche project”. Listing requirements for this platform are the same as for the main IEO site. However, tokensale on the new platform will have several differences from Huobi Prime:

  1. Shorter listing cycle and more flexible listing schedule
  2. Trading allocations for users are more flexible
  3. To facilitate the development of HT (Huobi Token), all HT exchanged will be burnt

The launch of the new platform is scheduled for May 9th. The first IEO on Prime Lite will be ThunderCore, which develops a blockchain with a bandwidth of more than 1,200 transactions per second. The project plans to raise about $ 500 thousand.