The acquisition of the two competitors would make Huobi one of the most powerful firms in crypto, considering that according to CoinMarketCap data Huobi is already the second most liquid cryptocurrency spot exchange. Bitflyer, on the other hand, is the seventh, and Bithumb the fifth.
Calling the cryptocurrency trading business ripe with fraud and manipulation, cryptocurrency data and indices provider CryptoCompare has begun rating the reliability of exchanges.
Japan delivered a one-two punch to HODLers of bitcoin on Friday, knocking BTC prices down 8 percent and similarly pummeling most of the cryptocurrency complex. First came news that regulators served six of Japan’s largest crypto exchanges with “business improvement orders”. Financial Services Agency (FSA) has been displeased with how these exchanges are implementing anti-money laundering procedures. QUOINE, bitFlyer, Bit Bank, BTC Box, Bit Point, and Tech Bureau were all told publicly to fix their internal controls. bitFlyer, the world’s sixth-largest bitcoin exchange according to CoinMarketCap, responded by announcing, “To ensure this process is completed quickly and effectively, we will be voluntarily and temporarily suspending the onboarding of new customers.”…
