Crypto Chronicle
  • Home
  • News
  • Taotao, the Yahoo!-backed Japanese Cryptocurrency Exchange Announces Official Launch Date
Exchanges News Regulation

Taotao, the Yahoo!-backed Japanese Cryptocurrency Exchange Announces Official Launch Date

japan flag

The Japanese arm of search engine Yahoo! has announced May 30th as the official launch date of its own cryptocurrency exchange. The exchange, to be dubbed Taotao, will offer Bitcoin (BTC) and Ethereum (ETH) as base currencies and will additionally be offering trading in Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH).

Taotao confirmed the details of the launch in a message from its Twitter account (@taotao_ex). The development represents Yahoo!’s first cryptocurrency-related project and is one of the first serious cryptocurrency exchanges launched by a major Web services company. Unlike in most western countries, Yahoo! enjoys a greater customer base in Japan than both Google and Paypal.

Japan’s Strict Crypto Regulation

Following several hacks over the past few years, Japan now has some of the strictest cryptocurrency regulatory rules in place. Exchange giant Huobi even had to suspend all its services to Japanese clients for a period in July last year due to regulations imposed by Japan’s regulatory body. Similar regulations affected the Hong Kong-based crypto exchange HitBTC.

Later that year in December last year, officials from Japan’s National Police Agency (NPA) revealed that they had received a staggering 6,000 cases related to cryptocurrency fraud and crime.

However, Yahoo! Japan was able to purchase the exchange through its retail foreign exchange subsidiary YJFX back 2018 when it was known as BitARG. The exchange is licensed by Japan’s financial regulatory body the Financial Services Agency (FSA)

Customers can begin registrations for the TaoTao crypto exchange from May 25th onwards.

Related posts

GrainChain Sells 10% Stake to Overstock Subsidiary Medici Ventures

Mark Hartley

YouTube Called As Defendant in BitConnect Case

Mark Hartley

Stellar (XLM) had the Worst Month in Crypto, Bitcoin Cash (BCH) had the Best

Mark Hartley

Leave a Comment

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close