Crypto Digest by Chatex | 06.06.2020

I’ve rounded up all the hottest and most interesting news from the world of cryptocurrencies. Read about the legalization of crypto in Canada, the prospects for digital currencies in Japan, as well as new statements by Vitalik Buterin about Ethereum 2.0 in my new digest.

“The launch of second-level solutions at Ethereum is in full swing”, — Vitalik Buterin

Ethereum co-founder expressed confidence in the development of Ethereum’s layer 2 scaling strategy.Now the company is facing the issue of network scalability, which should be solved in a new update.

“Look forward to the future of Ethereum scaling! (Including sharding supercharging all of these techniques 100x further down the line)”, — Vitalik said on Twitter. 

Canada now regulates cryptocurrency companies

From June 1, 2020, everyone is required to register with the local Center for Analysis of Financial Transactions and Reporting. 

Let me remind you that since last year, the country has been running a law on reporting transactions with crypto assets in the amount of more than 10,000 Canadian dollars for all individuals and legal entities. 

200 user accounts on Coincheck were hacked 

Hackers have found a minor vulnerability in the Japanese cryptocurrency exchange system. Having exploited it, the attackers were able to gain access to the username, registration address, date of birth, phone number, and photo of the ID card.

This is not the first attack on the exchange and not the worst one. In 2018, a team of hackers stole $530 million worth of NEM tokens from the exchange. Thus, the attack has become one of the largest hacker attacks in the world.

Japanese banks will learn how to use crypto

The leading Japanese banks MUFG, Mizuho and Sumitomo Mitsui Banking Corporation, the railway company Japan Railway, and several non-financial organizations decided to get involved in cryptocurrencies and gradually introduce them into their work. The main goal is to clearly define how digital currencies can be used in the country and form a model for making payments using digital currencies.

Twice a month, company representatives will organize conferences to discuss problems and find an effective solution to create a payment infrastructure based on blockchain and cryptocurrencies.

Market cap: $273 269 205 948
24h volume: $84 069 608 833

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With love, Chatex!