Ebang (Nasdaq: EBON), a Chinese bitcoin mining-rig manufacturer, has registered a crypto exchange with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
- According to a press release issued on Thursday, the registration of Ebang’s wholly owned subsidiary, Ebonex Australia, as a digital currency exchange (DCE) was completed on December 3, 2021.
- Ebang stock was up 14% in Nasdaq trading yesterday, despite losing 42% of its value in the previous six months.
- According to the press release, the approval “will add substantial value” to the company’s growth and brings it closer to becoming a “diversified and vertically integrated blockchain company.”
- Ebang, based in Hangzhou, China, established the subsidiary and began the registration process in October 2020.
- According to the AUSTRAC website, registration must be renewed every three years.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.