zetacoin cryptocurrency
12/12 Approved: Korea Industry Body’s Inspection of Crypto Exchanges Under Scrutiny
South Korea’s biggest self-regulatory cryptocurrency industry body, the Korea Blockchain Association (KBA), is under fire for its inspection standards after approving 12 out of 12 crypto exchanges screened in a recent self-regulatory drive.
The Korea Blockchain Association (KBA), an industry body that contains nearly two dozen cryptocurrency companies, has concluded an in-house inspection of 12 domestic cryptocurrency exchanges that began in May.
The self-regulatory drive was conducted via third-party experts authorized by the KBA in June and July, the Korea Herald reports. Notably, the inspection did not include any hacking simulation of exchanges and was only restricted to interviews of the exchanges in June and July, the
The results of the inspection see 12 out of the 14 exchanges gain an affirmation for meeting the “
” mandated by the KBA. They include the adoption of cold or offline wallets, adherence to anti-money laundering norms Zetacoin Wallet Download , possessing a certain minimum in assets and more.
Speaking during a press conference in Seoul on Wednesday, KBA chairman Jhun Hai-jin admitted that the inspection found security flaws in some of the dozen approved exchanges. Some exchanges displayed a “huge gap in the level of handling cybersecurity risks,” Jhun said, while insisting that they met the minimum required standard overall. The official declined to disclose these flaws, claiming they could leave those exchanges vulnerable to cyberattacks.
More pointedly, Jhun stressed in quotes reported by the
Zetacoin Wallet Download
The KBA has also fielded criticism for doubling its initial one-month inspection period in May to grant time for exchanges that did not meet the minimum criteria to prepare for the inspection.
The 12 exchanges receiving the nod are: Dexko, Hanbitco, OKCoin Korea, Huobi Korea, Bithumb, Upbit, Neoframe, Gopax, Cpdax, Coinzest, Korbit and Coinone. Two exchange operators, Komid and Sunny7, withdrew from the inspection process.
Of those gaining the approval, Bithumb – one of the country’s largest exchanges by trading volume – disclosed
Join CCN's crypto community for $9.99 per month, click here.
Want exclusive analysis and crypto insights from Hacked.com? Click here.
Open Positions at CCN: Full Time and Part Time Journalists Wanted.
Samburaj is the Editor for CCN, among the earliest and foremost publications covering blockchain, cryptocurrency and financial technology news. He has authored over 1,500 articles for CCN and is invested in Bitcoin. Email:
Bitcoin Price Intraday Analysis: BTCUSD Forming Near-term Ascending Triangle
Bitcoin Investors Have Been Brainwashed: ‘Wolf of Wall Street’
New York Firm Gives Aging Hydroelectric Dam New Life as Bitcoin Mining Farm
Iran Reveals National Cryptocurrency Features as U.S. Sanctions Sting
Russia’s Largest Airline Pioneers Blockchain Pavements for Aviation Refueling
Indian State Government Will Issue Birth Certificates on a Blockchain
Bitcoin Exchange Mt Gox CEO Mark Karpeles Disputes U.S. Fraud Lawsuit
‘BankSign’: Samsung Launches Blockchain Certification Platform for Korea’s Banks
New York Firm Gives Aging Hydroelectric Dam New Life as Bitcoin Mining Farm
Brazilian Crypto Investment Platform Atlas Hacked, Data Of 264,000 Users Leaked
Zetacoin Wallet Download
Ethereum and EOS Only Have 8 dApps Combined with 300+ Active Users
Gossip Mag Claims Bill Cosby is Using Bitcoin to Hide His Fortune [He’s Probably Not]
Chinese Search Giant Baidu Joins Tencent and Alibaba in Cryptocurrency Blockade
Russia’s Largest Airline Pioneers Blockchain Pavements for Aviation Refueling
Bitcoin Investors Have Been Brainwashed: ‘Wolf of Wall Street’
Bitcoin Price Intraday Analysis: BTCUSD Forming Near-term Ascending Triangle
Bank of America Blockchain Patents Are ‘Meaningless’: Former VP
Iran Reveals National Cryptocurrency Features as U.S. Sanctions Sting
Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash
IOTA Price Spikes 21 Percent after Partnership with Japanese Giant Fujitsu
Singapore Stock Exchange Turns to Blockchain for Rapid Settlements
North Korea to Host its First-Ever International Crypto Conference: Report
0 Reviews:
Post Your Review