Media: Chinese authorities grant licence to a foreign bitcoin exchange

South Korean cryptocurrency exchange DBX announced the opening of a licensed subsidiary in China. Local media reported this.

The publication states that authorities issued a temporary licence to operate the trading platform as early as December 2020. On February 5, the company reportedly presented the registration certificate for its branch.

The branch named Tabi is set to open no later than March, according to media reports.

ForkLog was unable to independently verify the authenticity of the information.

After the ICO ban in autumn 2017 and authorities’ pressure on trading platforms, cryptocurrency trading in China effectively ground to a halt.

In late July 2020, the Beijing Arbitration Commission clarified that Bitcoin-related activity is not subject to the ban if the asset is used as a digital good.

Subscribe to ForkLog news on Facebook.