China’s First Bitcoin Exchange Acquired by Hong Kong Investors

China’s first Bitcoin exchange said it has been acquired by unnamed Hong Kong-based blockchain investment fund after a regulatory crackdown by Chinese officials.

BTCC, which was known as BTC China when it was founded in 2011 and run by American Bobby Lee, was purchased for undisclosed terms. The company will now focus exclusively on the international market and its three major products, BTCC Pool, Mobi and USD Exchange, which will be led by Denver Zhao, Mark Ma and Aaron Choi, respectively.

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