Coon is negotiating a "strategic partnership" with yahoo's Japanese subsidiary to return to the Japanese cryptocurrency market

According to BlockBeats, coi 'an today announced that it is conducting strategic cooperation negotiations with Z Corporation Inc. (hereinafter referred to as Z Corp) and Japanese cryptocurrency exchange platform TaoTao Inc. (hereinafter referred to as TaoTao), and plans to return to the cryptocurrency market in Japan.

According to coen's announcement, Z Corp (a wholly owned subsidiary of yahoo Japan) and TaoTao will continue to communicate and negotiate with coen to launch encrypted transaction services for Japanese users. Coen will be responsible for providing cutting-edge technology, while Z Corp and TaoTao will work with financial services institutions to ensure full compliance with Japanese market regulations.

A few days ago, coon announced it would phase out encrypted transactions for Japanese residents, but so far has not imposed restrictions. If the alliance is reached, it would be a key step for coon to enter the Japanese market, as it did with coon USA.

For the negotiations, currency Ann CEO Zhao Changpeng in twitter, said: "the number of Japanese people may not understand the importance of this point. TaoTao and Z Corp is a subsidiary of the yahoo Japan. Yahoo Japan has independence from yahoo in the United States for a long time, now also do very well. And softbank still holds a 48% stake in them. In Japan, has no better partner than TaoTao."

Japan is a country with strong supervision over digital cryptocurrency trading. As early as the end of March 2018, coon started to withdraw from the Japanese market after being warned by the financial services agency of Japan for not obtaining a license for digital currency trading service. In April, the Kraken trading platform received the same warning and announced its withdrawal from the Japanese market. Coen may return to the Japanese market after obtaining the compliance operation qualification through cooperation with TaoTao and Z Corp.

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