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Yahoo! launches new cryptocurrency exchange

As reported by Cointelegraph Japan, the Japanese cryptocurrency exchange Taotao is ready to launch its own trade service, which is scheduled for May 30.

It is noteworthy that the exchange is 40% owned by the Internet giant Yahoo !, which in April 2018 acquired a stake in the company. At that time, the company paid about 2 billion yen for this stake, which is connected with the growing interest in the Japanese exchange sector.

The new stock exchange will traditionally begin to trade in bitcoins (BTC) and ethers (ETH). Margin trading will also be available in Litecoin (LTC), XRP and Bitcoin (BCH).

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Taotao initially planned to enter the market in mid-May, but at the last minute postponed the launch for unknown reasons.

As reported by the Cointelegraph, the upward trend in the cryptocurrency market, which began in April of this year, caused a second wave of popularity of digital assets among Japanese traders.

Last week, several domestic platforms reported a threefold increase in the number of open new accounts. Regulators, meanwhile, continue to tightly control the market, in particular, after several high-profile hacks last year, one of which bankrupted the stock exchange by almost half a billion dollars. Japan Financial Services Agency announced that it will strengthen the control of the activities of the exchanges in relation to the fight against money laundering.

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