Media outlets are touting what would amount to a major shake-up of cryptocurrency exchanges, Bitarg Exchange selling off a little less than half its business to Yahoo Japan. Reports even detailed how Yahoo Japan (YJFX) would then launch still another exchange built on Bitarg’s system by spring of next year. As of March 23, Bitarg is vigorously denying press accounts, insisting they were instead “studying various possibilities.”
On March 23, 2018, a number of news outlets reported that bitARG ExchangeTokyo Co. Ltd. (株式会社ビットアルゴ取引所東京) planned to accept investment next month from YJFX, a subsidiary of Yahoo! Japan that operates foreign exchange transaction services. However, in a notice posted to the bitARG website, representative director Yoon Hee Yuan refuted Nikkei‘s report on the matter and said that the exchange (which is not yet functional) has not agreed to any deals.
“Based on the recent developments in the virtual currency industry, we are studying various possibilities, including investments and partnerships with other companies, in order to further strengthen our system and management, but we have not made any decisions at present,” he wrote.
bitARG specifically refuted a report from Nikkei Asian Review, which alleged that the exchange would sell a 40-percent stake in its business to Yahoo! Japan next month. Nikkei contended that the companies had reported their partnership to Japan’s Financial Services Agency (FSA).
The FSA did not immediately respond to a request for comment.
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