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Bitcoin Mining-Rig Maker Ebang Registers Crypto Exchange in Australia
Ebang started the registration process back in 2020.
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.
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Read more: Bitcoin Mining Machine Maker Ebang to Launch Crypto Exchange in 2021; Shares Rise
Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
