#CryptoCorner; Yahoo Japan to Open Exchange, Binance is Warned and G20 Talk Crypto in Argentina
#CryptoCorner; Yahoo Japan to Open
Exchange, Binance is Warned and G20 Talk Crypto in Argentina
Point Roberts, WA, Delta BC – March 23, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Crypto Corner – March 23, 2018
By Samuel Mowers at Investorideas.com
Yahoo Japan to Open
Exchange, Binance is Warned and G20 Talk Crypto in Argentina
Yahoo Japan has plans to launch its own
cryptocurrency exchange, according to a recent report in
Nikkei Asian Review. Yahoo Japan will begin next month by acquiring 40 percent
of BitARG Exchange Tokyo and build from there.
“The Yahoo Japan exchange will be newly built but
based on BitARG's system.
Yahoo Japan will make additional investments in
BitARG, which is registered with the Financial Services Agency, early in 2019.
The two companies have reported their capital
tie-up plan to the FSA.
The purchase of BitARG shares will be made through
Tokyo's YJFX, a wholly owned Yahoo subsidiary that operates foreign exchange
transaction services. YJFX will pay about 2 billion yen ($19 million) for a 40%
stake in BitARG. The stake will be made up of outstanding shares and newly
issued stock.”
Despite confusion yesterday, it turns out that cryptocurrency exchange giant Binance has
in fact been issued a formal warning from Japan’s Financial Services Agency
(FSA). The warning, which took the form of a letter to
Binance CEO Changpeng Zhao, pertains to the fact that the Hong Kong-based exchange
has been operating in Japan without a license.
“We received a
simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately,
and will find a solution. Protecting user interests is our top priority.”
The company,
founded last year in Hong Kong, is planning to open an office in Malta, Chief
Executive Officer Zhao Changpeng said in an interview. Binance will soon start
a “fiat-to-crypto exchange” on the European island nation, and is close to
securing a deal with local banks that can provide access to deposits and
withdrawals, he said, without providing a timeframe.
“We are very
confident we can announce a banking partnership there soon,” Zhao said. “Malta
is very progressive when it comes to crypto and fintech.”
Brazilian outlet Criptomoedas Fácil
reports that French
minister of finance, Bruno Le Maire, has been vocal about the significance of
cryptocurrencies at the G20 summit in Buenos Aires, Argentina. Le Maire claimed
that Europe will lead the process of regulation in the international community.
Rough translation:
"We need
to find solutions because these [cryptoassets] can be used for different
illicit acts, however, we strongly believe that this technology in the
financial market is something very positive for all countries. But for that, we
have to have regulation and Europe will lead this process."
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