It has been 10 weeks since we started the CryptoSunday article series. Feel free to read what has happened during this weekend!
Japan: Yahoo Japan bought a minority stake in Japanese cryptocurrency exchange
Z Corporation which is a company owned by Yahoo Japan, bought a 40-percent stake in BitArg Exchange Tokyo. The transaction is valued at 2-3 billion YEN which gives around 20 million dollars according to Reuters.
“By utilizing the service operation and security expertise of the Yahoo group, we support the operation of exchanges operated by BitArgo Exchange Tokyo,” Yahoo Japan said. Also, they have admitted that they will try to create services that are “easy to use and safe”. The Bito Argo Exchange Tokyo’s start is planned for autumn of 2018, as you can read in a statement.
Malta: Financial Instrument Test
The Malta Financial Services Authority (MFSA) has published a document in which it is announcing the possible introduction of a “Financial Instrument Test”. That Test would legally define virtual tokens.
The Financial Instrument Test, first proposed in a Nov. 30 paper on Initial Coin Offerings (ICO), virtual monetary forms, and related specialist organizations, would decide if a Distributed Ledger Technology (DLT) resource falls under EU and conventional money related controls or Malta’s proposed Virtual Financial Assets Act (VFAA).
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