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Bitcoin Exchange Bought in Latest Sign of Exodus From Mainland

The acquisition of BTCC by a Hong Kong-based blockchain investment fund comes amid signs that China’s regulators are determined to stamp out cryptocurrency trading. Photo: VCG
The acquisition of BTCC by a Hong Kong-based blockchain investment fund comes amid signs that China’s regulators are determined to stamp out cryptocurrency trading. Photo: VCG

The one-time operator of one of the Chinese mainland’s top three bitcoin exchanges has been bought by a Hong Kong investor.

The acquisition of BTCC by a Hong Kong-based blockchain investment fund comes amid signs that China’s regulators are determined to stamp out cryptocurrency trading.

After the takeover, BTCC will “focus exclusively” on the international market and its three major products — a cryptocurrency mining pool, a wallet service and a U.S. dollar exchange platform — the company said in a statement on Monday.

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