Altcoin News: The Operator of One of the Oldest Crypto Exchanges in Japan Leaves the Business

August 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Cryptocurrency exchange operator Tech Bureau will quit the business and transfer the trading platform to FISCO, AMBCrypto writes with reference to local media.

Zaif users will be able to transfer their accounts to FISCO exchange from September 2 to November 30. It is noted that this is the first case of a voluntary refusal of a cryptocurrency exchange to register in Japan.

The lack of reliable information on this issue has caused confusion in the local crypto community. So, initially, it was not clear what would happen to Zaif user accounts. Later it became known that they will be “integrated” by FISCO.

The following message was posted on Zaif’s Twitter account, which has not been active since July 16:

“[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.”

Zaif was founded in May 2014. Last September, the exchange lost $60 million as a result of a hacker attack, after which it was under the supervision of local regulators.

Author: Marko Vidrih