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Australia approves "Ebonex" as digital currency exchange
Australia seems to be on a roll when it comes to crypto adoption as recently, a press release from GlobalNewswire confirmed that Ebang International Holdings Inc.'s fully owned subsidiary, Ebonex Australia Pty Ltd, has been approved by Australian authorities as a digital currency exchange in the nation.
Ebonex crypto exchange
The press release claims that the approval process was completed way earlier, on December 3, 2021. However, it seems that the firm took its time to release the full information on the subject. This is another major step taken by Australia towards crypto adoption ahead of the end of the fiscal year.It is also important to note that the stock of Ebang hasn't been performing quite well in the past 6 months, dropping nearly 50% in value. However, following this approval from Australian authorities, the price of the stock went up.
Mr. Dong Hu, Chairman and Chief Executive Officer of the Company, commented:
"Last year, we began our expansion in Australia by setting up subsidiaries and office space and establishing our local professional team. And now we are proud to announce that AUSTRAC has approved Ebonex Australia's registration as a digital currency exchange (DCE)."Hu further revealed that the team of the crypto exchange, which consists of senior industry technical experts, "has been developing and testing the cryptocurrency exchange tirelessly, and we anticipate that the exchange will be introduced to the market in the near future."
Australia on the right path
Australia seems to be on the path to crypto adoption. The authorities in the nation recently granted $277K to a crypto accounting firm called Kova Tax under the Boosting Female Founders Grant. Moreover, Treasurer Josh Frydenberg recently talked about cryptocurrencies and revealed that the nation aims to bring the crypto space "out of the shadows and into a considered regulatory framework which is world-leading ."
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