In line with an official ‘announcement‘ published, Japan’s renowned crypto-currency exchange named ‘Taotao’ is expected to launch its trading service by 30th May.
The start date brings to a near a ‘year-long‘ process since Yahoo! Japan closed the 40% equity deal within the exchange, then referred to as BitARG, earlier in April last year.
The company paid somewhat a rumoured amount of about 2 billion yen for the stake, that comes amid increasing interest within theJapanese exchange sector.
Taotao had originally planned a market debut in the mid of May, however ‘deferred‘ the move at the end min. without stating its motivation.
As ‘reported‘ earlier, the ongoing crypto bull market that began earlier in the month of April has fuelled a surge in popularity among new Japanese traders. Last week, many domestic platforms rumored upto threefold increases in new account openings.
Meanwhile, the regulators are still tightly trying to manage the market following a ‘number‘ of highly-publicized hacks that occurred last year, the major of which saw losses in more than half a billion dollars from ‘Coincheck‘ exchange.
Japan’s FSA [Financial Services Agency] has ‘declared‘ that it’ll review exchanges’ AML [Anti-Money Laundering] activities prior to an international inspection by the FATF [Financial Action Task Force].
Within the international exchange sector, the leading crypto exchange ‘Binance’ was also recently ‘hacked‘. Just last week, it also ‘hinted‘ the expected launch of margin trading soon as a part of its major update.