The Japanese unit of Yahoo is going to open a cryptocurrency exchange. This is with reference to the Nikkei Asian Review reported Coindesk.
According to the publication, the Japanese Internet company will first buy a 40% stake BitARG Tokyo Exchange in the future by establishing its own platform, using technology BitARG. Development, debugging, and running exchange Yahoo Japan will take about a year.
Writes the Nikkei, the transaction amount is 2 billion yen ($19 million). Officially Yahoo Japan it will be closed, through its subsidiary company, YJFX (platform for foreign exchange transactions — approx. CoinMarket.News). Its specialists will develop the exchange, as well as corporate governance, customer service and security. At the beginning of 2019 Yahoo Japan presumably will invest additional funds in BitARG, through one of its subsidiaries.
BitARG already registered in the Agency for supervision over financial services (FSA) of Japan, which could facilitate the application process for exchange Yahoo. Recall that after the January hacking Coincheck, the FSA began to require a total processing system security exchanges and increased its pressure on unregistered sites. Today in the press also reported that the Supervisory authority has issued a warning to Hong Kong stock exchange Binance.