Syscoin rescheduled its release date

According to the Update 3.0 Syscoin has rescheduled its platform release date from March 27 to April 30 due to regulation compliance.
13 April 2018   540

Syscoin in its Update 3.0 has notified that in March several regulatory developments occurred that are applicable to both Blockchain Foundry and Syscoin. Specifically, on March 7 SEC released the statement “Statement on Potentially Unlawful Online Platforms for Trading Digital Assets”.

A number of these platforms provide a mechanism for trading assets that meet the definition of a ‘security’ under the federal securities laws

 

Excerpt from the statement

Blockchain Foundry was working on defining that Syscoin is not a security. Syscoin was advised to introduce a new level of of complexity and functionality into our protocol. The analysis will ensure that Syscoin remains actively listed and traded at all exchanges who are taking compliance seriously. Syscoin is going to stay a credible player in the space so being compliant is of paramount importance. The additional time will allow Syscoin to perform additional security and performance testing while the analysis is being complete.

Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions like Bitcoin and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. At the moment of publication, Syscoin market parameters are as follows

  • Average price: $0.346734
  • Market cap: $184,556,039
  • Volume (24H): $4,524,220

 

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   70

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.