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The Company that Operated Zaif To Shut Down Crypto Exchange Business

Tech Bureau, the original operator of Zaif, a cryptocurrency exchange has decided to shut down its business, once it completes the refund for all customers. This operation marks the first case of a virtual currency exchange registrar returning from registration and closing its business. Tech bureau operated Zaif, till November 2018. However, as per new reports, the business will be handed over to FISCO. The latter is accepting refunds from the 2nd of September to the 30th of November for customers who have not transferred their accounts to FISCO. Zaif’s Twitter account which saw no activity since July 16, recently tweeted,[translated from Japanese], “[Regarding some reports on Tech Bureau, Inc.] An announcement regarding the closure of Tech Bureau, Inc. has been reported, but Zaif is currently operated by FISCO Virtual Currency Exchange, and this exchange will not be closed. . In addition, customers who have agreed to the business succession procedure with the Company do not need any refund procedures.” The latter was previously slapped with two business improvement orders by the Japanese regulators in 2018, owing to Zaif exchange being hacked and losing crypto assets worth $60 Million on Sep 14, 2018. In the theft, virtual currencies worth about ¥6.7 billion, including Bitcoin, Monacoin and Bitcoin Cash, were stolen from the exchange’s “hot wallet”. Furthermore, About  ¥2.2 billion worth of the stolen currency were Zaif’s crypto assets, while the remaining ¥4.5 billion belonged to customers. Following the hack, Tech Bureau agreed with JASDAQ-listed Fisco Ltd to receive a ¥5 billion (US$44.59 million) investment in exchange for majority ownership. Subsequently, the proceeds of the investment were to be used for returning stolen consumer funds. While Japanese regulators are keen on implementing strict measures and helping the exchanges put stronger consumer protection measures in place, it seems that some stronger regulations are needed to curb this menace. The refund application procedure as per Tech Bureau can be found here. The post The Company that Operated Zaif To Shut Down Crypto Exchange Business appeared first on Coingape.
CoinGape

Just In: Japanese exchange Zaif moving to FISCO as Tech Bureau shuts shop

Tech Bureau is going out of business and Zaif will see an operational shift. The Japanese cryptocurrency exchange, Zaif, will see its operator switch from Tech Bureau to FISCO virtual currency exchange, according to an announcement made on August 22. As per a report from Crypto Watch Japan, Tech Bureau operated the exchange until November […] The post Just In: Japanese exchange Zaif moving to FISCO as Tech Bureau shuts shop appeared first on AMBCrypto.
AMBCrypto

Japan’s FSA Orders Zaif Crypto Exchange To Improve Its Business System

Japanese cryptocurrency exchange Fisco, owners of Zaif crypto exchange, has received a business improvement order by the country’s financial regulator. The Japanese authorities have once again demonstrated that they take law compliance of virtual currency exchanges seriously after the order. The regulator ordered Fisco to enhance its business management systems following and in-depth investigation by […]
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HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
Benzinga

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
Benzinga

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Wells Fargo Plans Blockchain-Based Internal Settlement Services

The world’s fourth-largest bank, Wells Fargo, announced plans to use its digital token to pilot internal settlement services, which would run on its distributed ledger technology (DLT) platform. Per the press release September 17, 2019, the pilot project is expected to take off in 2020 and would initially focus on USD transfers.  Digital Token forRead MoreRead More. The post by Anthonia Isichei appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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