{"id":285549,"date":"2021-06-28T13:37:01","date_gmt":"2021-06-28T10:37:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/operator-of-chinas-first-bitcoin-exchange-reportedly-exits-crypto\/"},"modified":"2021-06-28T13:37:01","modified_gmt":"2021-06-28T10:37:01","slug":"operator-of-chinas-first-bitcoin-exchange-reportedly-exits-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/operator-of-chinas-first-bitcoin-exchange-reportedly-exits-crypto\/","title":{"rendered":"# Operator of China\u2019s first Bitcoin exchange reportedly exits crypto"},"content":{"rendered":"<p>&#8220;<strong># Operator of China\u2019s first Bitcoin exchange reportedly exits crypto <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMzQyM2U4OWUtYzg3Mi00MDA1LTliMTgtYjUzNWM3ZWJjNTE0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>BTCChina, the operator of China\u2019s oldest Bitcoin (BTC) exchange, is no longer in the crypto business, according to some reports.<\/p>\n<p>The company sold its stake in the Singapore-registered Bitcoin exchange ZG.com to an unidentified foundation in Dubai, Chinese <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> agency The 21st Century Business Herald recently\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/m.21jingji.com\/article\/20210622\/herald\/530bdde8535d9257aaa8dd27f3e9511e.html\">reported<\/a>.<\/p>\n<p>According to the report, ZG.com is a completely independent crypto exchange business with registrations in the United States, Singapore, Estonia, Seychelles and other countries. BTCChina reportedly invested in ZG.com in January 2019.<\/p>\n<p>According to a report by the South China Morning Post, BTCChina <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.scmp.com\/tech\/policy\/article\/3138618\/btcchina-countrys-first-bitcoin-exchange-gives-cryptocurrency-amid\">said<\/a> that it was exiting the Bitcoin business \u201cin response to the Chinese government\u2019s policy,\u201d alluding to the major crackdown on crypto mining activity and related activities\u00a0in the country.<\/p>\n<p>Founded back in 2011 by Huang Xiaoyu and Yang Linke, BTCChina was forced to stop trading cryptocurrencies in October 2017 following the Chinese government\u2019s ban on crypto trading. The company then\u00a0sold its exchange operations to a Hong Kong-based blockchain investment fund. The exchange continued to operate under the name BTCC, except for customers with a Chinese IP address.\u00a0<\/p>\n<p>BTCC\u2019s activities after the sale fueled speculation that it was affiliated with BTCChina, and that Yang still controlled the exchange \u2014 claims which the company has\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/chinas-first-cryptocurrency-exchange-btcchina-clarifies-that-it-is-not-affiliated-with-btcc-300699194.html\">denied<\/a><em>.<\/em><\/p>\n<p>BTCC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.btcc.com\/zh-CN\/detail\/149144.html?\">announced<\/a> last week that the company was not affected by China\u2019s crypto crackdown. \u201cBTCC is not impacted for now because BTCC doesn\u2019t provide trading of cryptocurrencies, but derivatives of cryptocurrencies,\u201d the company said.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>China\u2019s crackdown means Bitcoin is working, says crypto miner<\/em><\/strong><\/p>\n<p>ZG.com and BTCC did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely respond to Cointelegraph\u2019s requests for comment.<\/p>\n<p>The Chinese government has been cracking down on crypto in recent months, causing multiple closures of major crypto mining hubs in the country, including provinces like Sichuan, Yunnan, Xinjiang, Inner Mongolia and Qinghai. Also, major Chinese banks like the Agricultural Bank of China confirmed that Chinese authorities have been moving to prohibit any crypto-related transactions on bank accounts in China as well.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/operator-of-china-s-first-bitcoin-exchange-reportedly-exits-crypto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Operator of China\u2019s first Bitcoin exchange reportedly exits crypto &#8221; BTCChina, the operator of China\u2019s oldest Bitcoin (BTC) exchange, is no longer in the crypto business, according to some reports. The company sold its stake in the Singapore-registered Bitcoin exchange ZG.com to an unidentified foundation in Dubai, Chinese news agency The 21st Century Business&#8230;<\/p>\n","protected":false},"author":1,"featured_media":285550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMzQyM2U4OWUtYzg3Mi00MDA1LTliMTgtYjUzNWM3ZWJjNTE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,110535,74863,74860,4973,71511,70934,5012],"class_list":["post-285549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-btcc","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-china","tag-government","tag-regulation","tag-singapore"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/285549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=285549"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/285549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/285550"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=285549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=285549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=285549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}