Yahoo! Japan Backed Cryptocurrency Exchange Set To Launch Soon.

Yahoo! Japan Backed Cryptocurrency Exchange Set To Launch Soon.

2019-03-25 | Robin Williams

Yahoo! Japan Backed Cryptocurrency Exchange Set To Launch Soon.

In line with an official 'report' published, renowned Japanese cryptocurrency exchange named ‘Taotao’ formerly ‘BitARG’ can begin trading a limited range of crypto’s later in May.

Taotao - is 40% owned by a subsidiary of Yahoo! Japan, can primarily trade Bitcoin [BTC] and Ethereum [ETH], with margin positions available in 3 other cryptocurrency' like Litecoin [LTC], Ripple [XRP] & Bitcoin Cash [BCH].

Prospective users are able to sign-in for an account and participate in an exceedingly promotional giveaway scheme.

The 'plans' primarily came into light earlier in March last year, once Yahoo! Japan declared it might acquire a major stake within the exchange through its subsidiary named ‘YJFX’.

At the reporting time, sources suggested the acquisition had costed the company around $19 Mln.

The move marks the web giant’s first stepping onto the cryptocurrency exchange ecosystem, with Taotao having gained 'regulative approval' to launch on the Japanese market.

As reported, Japan has sought to impose strict observance on entities desiring to launch exchanges, after several 'hacks' placed a global spotlight on the business.

A licensing scheme appeared earlier in Apr 2017, but attacks and thefts are still continious. Coincheck, the victim of the biggest 'attack' involving tokens priced over half a billion USD in Jan. last year, has since managed to 'return' to the market following the acquisition.

Even earlier this month, new 'rules' gained approval, specifically concerning cryptocurrency margin trading.

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