Hong Kong investors acquire Chinese bitcoin exchange BTCC

This comes amidst a crackdown on cryptocurrency trading by Chinese authorities.

Bloomberg reports that an unnamed Hong Kong-based blockchain investment fund has acquired BTCC, China’s leading bitcoin exchange for an undisclosed amount following a cryptocurrency crackdown by Chinese officials. 

BTCC, formerly known as BTC China, will redirect its focus exclusively on the international market and its three major products – BTCC Pool, Mobi and USD Exchange. 

“We now have the resources to more fully realize our vision of safeguarding and stabilizing digital currencies’ blockchains,” said Denver Zhao, BTCC’s senior vice president of BTCC Mining Pool, according to a company statement. “Going forward, we’ll provide better, fairer, more transparent, and more comprehensive mining services to our customers worldwide.”

Here’s more from Bloomberg: