A regional media source in a statement is saying Yahoo Japan is preparing to launch a cryptocurrency exchange.
A report from Nikkei Asian Review reported on Friday that the tech firm which was originally a joint venture with Altaba (formerly Yahoo!) will begin their acquisition of BitAR exchange Tokyo in April which will span a full year of paperwork and total control before launch in 2019
The deal would see Yahoo Japan pay an initial deposit for the deal within the sum of $19 million dollars for a 40% stake in BitARG, which already has a license from the country’s Financial Services Agency (FSA) to operate cryptocurrency trading platform. The remaining 60% payment balance would come through other subsidiaries over the course of one year.
Yahoo Japan intends to scale up the platform’s operations, anticipating the rebirth of the new exchange with launch month of April 2019. This deal is now a major focus in the world of cryptocurrency at the moment. Owing to the fact that China forced a closure of cryptocurrency exchanges on the mainland.
Previously, Japan had passed favorable cryptocurrency regulations, and these two factors have led several mainstream companies to begin developing cryptocurrency exchanges.
With Mitsubishi UFJ Financial Group (MUFG), the largest financial institution in Japan as measured by assets under management (AUM), is readying plans to launch an exchange, regional media sources reported in January.
Finally, Japanese banking group SBI intends to build its own exchange, though it recently delayed the launch so it could strengthen its security measures — a move that came in response to increased scrutiny from the FSA.
As CCN reported, the FSA has ramped up enforcement of the cryptocurrency trading industry in the months following a record-setting theft at Tokyo exchange Coincheck.
Most recently, the FSA issued a formal warning to Hong Kong-based exchange Binance for unlawfully operating in Japan without a license.
Photo Source: Shutterstock
VanEck to Give Clients Access to Crypto by Offering a Solana ETF
Solana based DEX, Orca Closes $18M Series A Round
We don’t expect all businesses to adopt e-Naira –CBN
We chose Bitt Inc for the e-Naira because of Capacity & Experience – CBN
KB24 Launches NFTs Collection in Memory of Kobe Bryant, Proceeds to be Given to Charity
President of Turkey Says the Country is at War with Cryptocurrencies
Monetary Policy has been replaced with tyranny; e-Naira will be a flop – Chiagozie Iwu
El Salvador Adds Fresh 150 Bitcoins as BTC Price Slides
10 Days after Adopting Bitcoin, El Salvador Records 17% Adoption for its Wallet Chivo
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
E-naira Project Award to BITT Raises Regulatory Questions
The Central Bank of Nigeria’s e-naira Project has generated a number of questions lately. The most recent is the contention...
Ecosystem Growth Fund: The newest ways to market and promote blockchain platforms
Fantom, Harmony, Algorand & OKEx has in less than a month announced a billion dollars fund to boost development on...
TOKEN2049 Returns for In-Person Event this October in London
Highly anticipated conference at the forefront of the digital assets space marks the return of one of the first major...
OKEx Launches Super Affiliate Program
Are you a KOL or content creator in the crypto space? Do you want to boost your earning by introducing...
Influencers Are the Drive behind NFTs Popularization – Karla Obarkpolor
The founder of NFT marketplace Qlipit and Crypto Asset Management Company, Crypto Smart has stated that influencers have played big...