Japan Exchange Bitarg Denies Yahoo Acquisition Press Reports

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.”

Bitarg Denies Yahoo Japan Rumors

A Bitarg statement with the salutation 株式会社ビットアルゴ取引所東京 代表取締役 尹 煕元, google translated as, “Bit-Argo Exchange Co., Ltd. Tokyo Representative Director Yoon Hee Yuan,” came after rumors of a done deal surfaced between the exchange and Yahoo Japan, according to an unsigned Nikkei Asian Review article.

The Nikkei headline and subtitle read, “Yahoo Japan to open cryptocurrency exchange; First step to be taken next month — tie-up with Bitarg Exchange Tokyo.” The online post insists, “The two companies have reported their capital tie-up plan to the FSA [(Financial Services Agency)].”

It goes on to detail how “Yahoo Japan next month will acquire 40% of operator Bitarg Exchange Tokyo, then launch a full-blown exchange in April 2019 or later. 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,” calling such moves “a realignment in the cryptocurrency exchange business.” […]

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