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Bitcoin Mining-Rig Maker Ebang Registers Crypto Exchange in Australia

Ebang started the registration process back in 2020.

By Eliza Gkritsi
AccessTimeIconFeb 11, 2022 at 3:00 p.m. UTC
Updated May 11, 2023 at 7:12 p.m. UTC
Sydney, Australia. (Johnny Bhalla/Unsplash)
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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



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Eliza Gkritsi
Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

Follow @egreechee on Twitter

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