The premiere Bitcoin company in China, BTC China has stated that its shares in the Singapore crypto trading platform (ZG.com) has been sold off. Recent report from a news agency based in China has it that the firm’s shares sell off was to an unknown Dubai based crypto enterprise.
ZG.com according to reports is an autonomous crypto trading enterprise and operates in different countries. BTC China invested in the crypto trading enterprise in the first month of 2019. South China Morning Post (SCMP), a Hong Kong-based English-language newspaper said that BTC China firm was finally leaving the Bitcoin world following the Bitcoin mining proscriptions by authorities in China.
BTCChina was established in 2011 and was made to terminate its cryptocurrencies transactions in October 2017. This was due to a prohibitory law enacted against crypto transactions by Chinese powers that be. During the period, the firm sold off its exchange operations to another blockchain firm named BTCC. However, there were widespread speculations that the two firms were into partnership, a claim that BTCC vehemently repudiated.
BTTC made it public the previous week that they were not in anyways affected by the latest crypto Clampdown in China stating that the firm doesn’t engage in cryptocurrencies transactions but cryptocurrencies derivatives.
The powers that be in China has engaged in widespread Clampdown campaign in recent times. This has led to shutting down of mining Companies across the country. A notable Chinese bank, has affirmed the speculation that the government intend to put prohibitory laws in place to ensure that bank accounts were not connected to crypto transactions across the country.
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