Bitcoin rate decreased because of Japan’s plans to test the work of crypto-exchange
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Bitcoin rate decreased because of Japan’s plans to test the work of crypto-exchange

On Monday, the value of digital currencies declined after Japan’s financial regulator announced plans to check the currency exchange due to the recent hacking of $ 530 million by the hackers from the Tokyo exchange Coincheck.

At 12:49 Moscow time on the Bitfinex exchange bitcoin was trading at $ 11,383.00. The second largest capitalization of crypto currency at Bitfinex was traded at $ 1186. At the Poloinex, the ripple traded at a position of $ 1.29.

The financial services agency of Japan said on Monday that it will check all the country’s crypto-currency exchanges. Also, the regulator decided to eliminate the shortcomings of the Tokyo Stock Exchange Coincheck, which on Friday suspended trading, recognizing the theft of virtual currencies by the hackers in the amount of $ 530 million. This is one of the largest thefts of virtual money. In a statement published on Sunday, the Coincheck exchange reported that it will compensate customers from its own funds 46 billion yen ($ 425 million). This will be approximately 90% of the amount lost as a result of the hacker attack.

The attack of hackers affected the interests of some 260 thousand clients of the exchange. The Financial Services Agency said it has not yet received confirmation that the Coincheck exchange has sufficient funds to compensate for damages to customers. The current case has increased concerns about the security of operations with digital currencies, confirming regulatory authorities’ warnings amid a sharp rise in prices for crypto-currencies in recent months. In 2014 another Japanese stock exchange MtGox declared itself bankrupt after theft from its network of almost half a billion dollars.

Many countries try to limit trading by crypto-currencies. The regulators of South Korea said that since January 30, the government of this country will prohibit the use of anonymous bank accounts in trading on the crypto-markets. Trades in crypto-currencies in South Korea are extremely speculative. Last year, the Chinese authorities banned the ICO (Initial Coin Offering – raising funds from investors using crypto currency) and closed the local platforms for trading crypto-currencies.

The Securities and Exchange Commission of the Philippines said on Monday that it is preparing a set of rules for regulating transactions in the trading of crypto-currencies. This will protect investors and reduce the risk of fraud. However, Japan has chosen another method of regulating trade in crypto-currencies. Last year, Japan became the first country to issue a government decree regulating the work of crypto-market.

The Japanese government is trying to make the most of the advantages of modern financial technologies to accelerate the economic growth of the country.

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