Taotao’s Launch and Initial Offerings
In a move that’s set to shake up the cryptocurrency landscape, Japanese exchange Taotao, previously known as BitARG, is stepping into the trading ring this May. As reported by Cointelegraph Japan, the exchange will debut with Bitcoin (BTC) and Ethereum (ETH) at its helm, giving users a taste of what’s to come. But that’s not all – they’re also offering margin positions in three additional cryptocurrencies: Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP).
Start of Account Registration and Promotions
Exciting times lie ahead for prospective users as they can now throw their hats in the ring by signing up for an account. To make it even sweeter, Taotao is launching a promotional giveaway scheme to entice early adopters. It’s like a carnival, but for crypto enthusiasts!
A Partnership with Yahoo! Japan
The brain behind Taotao’s revival is none other than Yahoo! Japan, which acquired a significant stake in the exchange through its subsidiary, YJFX. Back in March 2018, this acquisition was rumored to cost around 2 billion yen (which is roughly $19 million at the time). Talk about investing in the future!
The Regulatory Landscape of Japan’s Crypto Scene
Japan has been on a rollercoaster ride with cryptocurrency regulations, particularly following some high-profile hacks that got everyone’s attention. With a stringent licensing scheme introduced in April 2017, the government keeps a watchful eye on exchanges wanting to play by the rules. Taotao has successfully navigated these regulatory waters, marking Yahoo! Japan’s debut in the crypto exchange realm.
Learning from the Past: The Importance of Security
Let’s not kid ourselves; the crypto-world was rocked when Coincheck suffered a massive hack in January 2018, leading to the loss of over half a billion dollars in tokens. Thankfully, they’ve bounced back after a buyout, but the implications of these security breaches led Japan to impose even stricter regulations. Taotao’s launch comes alongside new regulations specifically focused on cryptocurrency margin trading, highlighting the importance of user security in innovation. Because let’s face it – no one wants their investments to vanish into cyberspace!
