on the crypto
Owned by Yahoo! The Japanese subsidiary Tao Tao will begin trading on May 25, 2019, allowing investors to trade a limited range of cryptocurrencies.
Japan: the launch of the Taotao Exchange
Japan, one of the most developed countries and one of the largest world markets, will see the launch of theTaotao Exchange (ex BitARG) which will begin trading a limited range of cryptocurrencies in May 2019.
Taotao, formerly called BitARG, is a company owned by the Present in several = 40% of YJFX, a subsidiary of Yahoo! Japan.
The Taotao Exchange will allow users to exchange the Bitcoin and Ethereum, in addition to allowing them to enter additional positions of margin trading also in Litecoin, Bitcoin Cash and XRP.
Last April, Yahoo announced that it would acquire a stake in 40% in BitARG through its subsidiary Z Corporation.
The price of the acquisition has not been revealed, but some sources have reported that the deal involved 2 billion yen (approximately $ 19 million). In February 2019, Bit Argo was renamed Tao Tao.
Currently, the Exchange is conducting one pre-launch campaign to welcome new users.
As part of the campaign, Tao Tao will offer 1.000 JPY to 500 casual users who trade over 250.000 JPY (approximately $ 2.270) through its platform.
The Japanese Exchange will begin accepting customers starting May 25th.
Crypto FSA regulation
It should be noted that Tao Tao has received approval from Financial Services Agency (FSA) Japanese.
Trading platforms must obtain a license to operate: more than $ 500 million NEM tokens were stolen last year from Coincheck, recently acquired by the Monex Group, and Zaif suffered a theft of $ 60 million in Bitcoin.
Last year 190 companies tried to obtain the license from the FSA: Tao Tao is one of the few exchanges that managed to obtain it.
In addition, the FSA has also banned i Bitcoin Futures and Ethereum options to avoid speculation about stokes.
Earlier this March 2019, the Japanese Cabinet of Ministers approved new regulations for cryptocurrency trading.
Cryptocurrencies: an opportunity for financial institutions
Japan remains one of the most important markets for cryptocurrency exchanges: the activity of at least five major financial institutions and technology conglomerates such as Bic Camera, Rakuten, SBI Holdings, GMO and Yahoo!
Japan is strongly linked to the cryptocurrency industry. As the most famous investor explained Ben Horowitz, these companies consider cryptocurrencies an asset class with great potential: "You just have to trust math. This opens up a very interesting world for developers because you can develop applications like money. Nobody has been able to plan money before".
