Bitflyer Exchange May Freeze Accounts Caught Manipulating Prices

Japan’s Bitflyer crypto exchange announces that accounts that are caught manipulating prices may be frozen. Meanwhile GMO, Japanese Internet giant group, has released quarterly earnings for its crypto exchange subsidiary. Presently, it intends to borrow some BTC from its customers.

The Bitflyer exchange, which is Japan’s largest crypto exchange in terms of volume, is still not accepting account signups. The exchange voluntarily took this decision on receiving a business improvement order from the Financial Services Agency (FSA), the country’s top financial regulator.

In accordance with their Terms of Use, on last Thursday, Bitflyer announced that it may freeze accounts that are observed to have intentionally performed market manipulation. It added that it will continue to do its best in order to build a sound trading environment.

According to the FSA, the business improvement order that Bitflyer received contains 10 measures to ensure reliable and appropriate business operation. The exchange has been delaying withdrawals and deposits as it is trying to comply with the FSA’s order. On July 23, the exchange submitted its improvement plan to the FSA.

GMO Coin Wants To Borrow BTC Now

The crypto exchange unit of GMO Internet, GMO Coin is presently accepting applications from customers who are waiting to loan the firm their BTC. According to Bitcoin News, customers can apply between July 24 and August 6. The minimum amount that GMO can borrow is 10 BTC and the maximum is 200 BTC. The crypto exchange announced the launch of this program first in May this year.

The Japanese Internet giant released its quarterly earnings last Thursday. The exchange recorded operating income for its crypto business in the second quarter after its loss in the first quarter due to a sharp drop in crypto prices. GMO further added that in the virtual currency business, the number of account openings has rapidly grown owing to aggressive promotion activities.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Jesmine Rahman holds 15+ years of professional writing experience of working with reputed Indian dailies like the Times of India and the Indian Express. She also holds a rich experience of working as a Senior Technical Content Specialist with a reputed IT company. for 10 years. She writes crypto news on OWLT Market.

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