JVCEA May Release Voluntary Rules Soon

According to the report, recommendations will include a ban on insider crypto trading and penalties for employees of exchanges seen in this illegal activity
19 June 2018   733

Next week, the Japan Virtual Currency Exchanges Association (JVCEA) will unveil a new guide regarding crypto regulation. This is reported by Cointelegraph.

According to the publication, the recommendations will include a ban on insider crypto trading and penalties for employees of exchanges seen in this illegal activity.

Presumably, JVCEA will publish the paper on June 27.

Japan Virtual Currency Exchanges Association appeared in late April as a reaction to the Coincheck hack, as a result of which the site lost $ 533 million in the NEM cryptocurrency. Since then, the organization has monitored the activities of local trading platforms and ensures their safety.

Since June 18, Japan has officially banned anonymous cryptocurrencies.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   122

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.