BC Technology rejects report of $128 million Bitcoin exchange sale. The company calls Bloomberg’s report “unfactual and highly misleading.”
BC Technology: Our licensed Bitcoin exchange is not for sale!
OSL, a licensed Bitcoin exchange based in Hong Kong, is not for sale, according to a recent filing by its parent company. OSL owner BC Technology said in a filing to the Hong Kong Stock Exchange that Bloomberg’s report on the pending sale was “factually inaccurate and highly misleading.” Bloomberg had initially reported that the exchange was for sale at a value of 1 billion Hong Kong dollars ($128 million).
Sources said at the time that the exchange and HashKey were the only two companies to secure crypto licenses in Hong Kong under new regulations passed in June, allowing them to serve retail customers, and that the application process cost between $12-20 million . “We have seen increased customer interest in OSL’s services following enforcement measures taken against unlicensed and illegal players in Hong Kong in recent weeks,” a BC Technology spokesperson told the South China Morning Post, referring to the JPEX closure and subsequent arrests.
Bloomberg news: OSL owner is considering sale for 128 million
Bloomberg claimed in its news that BC Technology preferred to sell some of OSL rather than all of it. cryptokoin.comAs you follow from , according to this news published on Monday, BC Technology Group was evaluating the sale of Bitcoin exchange OSL at a valuation of 1 billion Hong Kong dollars ($128 million). By the way, it should be noted that Hong Kong is shining in the crypto world due to its friendly approach.
OSL provides primary brokerage, exchange and custody of crypto assets. It also provides infrastructure for financial institutions to offer digital asset trading. BC Technology has argued that OSL will choose to sell part of its business rather than its entire asset, citing people familiar with the matter. The people in question stated that BC’s negotiations are continuing. They also added that a deal is guaranteed to happen. The Bitcoin exchange is one of two exchanges to gain a crypto license in Hong Kong under the territory’s new regulatory regime that came into force in June. The other one is HashKey. People familiar with the matter highlighted in August that the application process was expensive. They also stated that this cost companies $12-20 million.
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