Ebang started the registration process back in 2020.Read MoreFeedzy
Chinese bitcoin mining-rig maker Ebang (Nasdaq: EBON) registered a crypto exchange with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Approval of the registration of Ebang’s wholly owned subsidiary, Ebonex Australia, as a digital currency exchange (DCE) was completed on Dec. 3, 2021, according to a Thursday press release.
Ebang stock was up 14% in yesterday’s trading on the Nasdaq, though it has lost 42% of its value in the past six months.
The approval “will add substantial value” to the company’s growth and is bringing it closer to becoming a “diversified and vertically integrated blockchain company,” Dong Hu, chairman and CEO, said in the press release.
Hangzhou, China-based Ebang set up the subsidiary and started the registration process in October 2020.
The registration has to be renewed every three years, according to the AUSTRAC website.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
The Bitcoin price made a strong comeback on Friday after witnessing a significant amount of…
GBTC, the biggest spot bitcoin ETF, has seen its assets under management lead over BlackRock's…
Alexander Vinnick, the Russian national who was one of BTC-e's operators, pled guilty to conspiracy…
Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a notable resurgence in its…
Crypto expert Michaël van de Poppe has made a bullish case for Bitcoin as he…
Originally published on Unchained.com. Unchained is the official US Collaborative Custody partner of Bitcoin Magazine…