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Back in April 2018, 'Yahoo! Japan' acquired a 40% stake in crypto currency exchange BitARG, which has since been rebranded to Taotao, and is now reportedly set to launch in May.
According to a CNBC report in April 2018, Yahoo! Japan said that it had acquired a 40% stake in BitARG Exchange Tokyo.
The Japan-based cryptocurrency exchange has since been rebranded to Taotao, and is planning to launch in May with the approval of Japanese authorities.
'Yahoo Japan Corp said on Friday it would buy a minority stake in a Tokyo-based cryptocurrency exchange, becoming the latest major Japanese financial services provider to shrug off security concerns and join the digital money industry', the report said in April 2018.
The Yahoo-backed crypto exchange will start trading a limited range of cryptocurrencies in May. Initially, it will introduce Bitcoin and Ethereum. At a later stage it will introduce margin positions for Ripple, Bitcoin Cash, and Litecoin.
Read more: Will central banks accumulate Bitcoin? "Hugely impactful on the price"
An exchange funded by Yahoo called “TAOTAO” will be launched this May (in Japan). Their slogan is “new money new world.”
— xPhilosopher🤔 (@xPhilosopher1) March 25, 2019
Oh btw their official twitter account is following Ripples official twitter account🤔 More digital asset adoption in Japan https://t.co/NqGQjvqtPG
In December 2018 Chepicap reported that Japan’s top financial regulator the Financial Services Agency confirmed that there are more than 190 companies that expressed their intention to enter the Japanese cryptocurrency market.
'Including preliminary consultation/inquiries regarding registration, more than 190 operators are expressing their intention of market entry', the FSA said.
Japan’s Financial Services Agency #FSA said that more than 190 operators had expressed intention to enter the Japanese cryptocurrency market ▷▷
— #sns (@cryptoSNS_) December 28, 2018
Companies that want to offer services must be registered with the FSA and request permission to operate.
Even though the necessary approvals might add additional work to the registration process, this system provides clarity in the space, protects investors and also allows blockchain companies to keep on innovating before entering the Japanese cryptocurrency markets.
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