New Age of Personal Data Control in Europe
The General Data Protection Regulation (GDPR) came into force on May 25 - a milestone event in European personal data privacy regulation. GDPR created a new data regulation system within Europe, strengthening users’ control of their personal data.
The system introduces new organizational and procedural obligations for corporate and public organizations, as well as more rights for data subjects. In other words, data processors will collect data only within the frame of their customer communication, making data retrieval more “adequate, relevant and limited to the minimum necessary in relation to the purpose for which they are processed”.
BTCC to Launch New Exchange Platform
Chinese BTCC has announced the upcoming launch of an updated trading platform in June 2018. In developing its new platform, the company focused on increasing liquidity, faster deposits and withdrawal, as well as small bid-offer spreads. The platform will initially support trading pairs BTC (Bitcoin), ETH (ETH/USD), BCH (Bitcoin.Cash), LCH/USD (LTC/USD) etc. - additional pairs will be launched in line with user demand. The updated exchange will also waive trading fees for the first three months.
Poloniex Customers Complain About Frozen Accounts
Poloniex users claim their accounts have been frozen due to lack of verification, while verified users can’t access their funds and begin trading. Many believe this is happening due to Poloniex’s recent acquisition by Circle, as Circle adheres to regulatory policies like AML/KYC laws. Circle Financial acquired Poloniex in February 2018 - following the Poloniex announced that all users must verify their identity by Q1 2018. Poloniex has not yet made any official statements regarding the situation.
something is wrong, @poloniex, I clearly remember you giving warning before 2018 saying after disabling "TRADING" legacy accounts would be able to WITHDRAW their coins, freezing suddenly? i didn't even get an email with time limit ! accounts not verifying? frozen verified? wow !— Crypto Trader and TA ! (@Jiraiyahsama) May 27, 2018
Sygnia to Open Crypto Exchange in South Africa
Sygnia Ltd., a South African investment company based in Johannesburg, has announced that is going to launch its own cryptocurrency exchange this summer. According to CEO Magda Wierzyck, “the company aims to launch SygniaCoin, a cryptocurrency exchange, in the third quarter of 2018. The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows.”
Chilean Bank Reopens Cryptocurrency Exchange Accounts
This week, Chilean Bank Banco del Estado de Chile (Bancoestado) reopened an account for cryptocurrency platform Cryptomkt, according to La Tercera. The move followed a decision from the Tribunal for the Defense of Free Competition (TDLC), which ordered the country’s three largest banks (Bancoestado, Scotiabank and Itaú) to reopen the accounts of two crypto firms - Cryptomkt and Buda.com.
In April, Bancoestado announced that it would shut down Cryptomkt and Buda.com’s accounts following similar decisions from Scotiabank and Itaú.
The total cryptocurrency market capitalization at $313 billion (-6,6% to Friday)
By Yana Sheremetyeva