Central Bank of Mexico fears the rise of the cryptocoin and orders to reinforce security in transactions. Rise cryptocoin.
On Friday, July 27, the Bank of Mexico (Banxico) ordered all institutions belonging to the Mexican financial system to improve security measures for all those engaged in the “exchange or purchase of virtual assets.”
The bank said that all companies should “strengthen the security elements in the provision of funds transfer services,” according to the document that was published on its website. The intention of Banxico is to reinforce the controls of the Interbank Electronic Payment System (SPEI) to raise the security standards and avoid fraud in cryptocoin Bitcoin.
In the document, he talks about crypto actives and highlights 5 security points to maximize the protection of money. To do this, the Banxico suggests the development of validations that ensure the money of transfers made in the SPEI. rise cryptocoin
In the second point, the Central Bank of Mexico Banxico indicated the following:
The companies like Bitso within the SPEI must pay the money corresponding to the money transfer orders they receive, the day following their reception until they receive authorization from the Bank of Mexico and perform the additional validations that aim to ensure the legitimacy of the funds. said orders.
Banxico wants to “ensure the proper functioning of the payment system”, that is, in case of possible attacks on the technological infrastructure, companies must ban those users on the same day they are received.
In addition, users must use demand deposit accounts that are managed only at certified financial institutions to offer them. For example credit institutions, popular finance companies, community financial societies and cooperative savings and loan societies. rise cryptocoin
In the last point, Banxico stressed that banks “should avoid providing accounts to these companies for the transfer of resources for the purchase of virtual assets.”
Policy to avoid hacking
After the hack to the Bitso local crypto exchange house and the attack happened to the Chilean bank. On July 5, Bitso detected a cyber attack on his exchange, which activated the security protocols for the economic funds of thousands of users. rise cryptocoin
Finally, on Wednesday, July 25, Chile suffered the theft of financial information from thousands of people throughout the country. The most interesting thing about this attack is that the hackers, self-styled as ShadowBrokers, made public the information of how they made their attack in exchange for payments of 50 to 200 bitcoins.