BTCChina, the first cryptocurrency exchange service provider in China, has denied any link or affiliation with BTCC and clarified that BTCC is not the abbreviation of BTCChina, the company said in a statement.
The clarification was issued in response to news reports that the country’s first and longest-serving digital currency exchange had issued a token. But Richard Zhu, a legal representative for BTCChina, said that the company has not released any utility coins and is not planning on issuing one any time soon.
“Utility tokens or ‘initial coin offerings’ are when cryptocurrency businesses sell digital tokens to raise money for their projects,” the statement said. Zhu said BTCChina is not a party to the issuance of the "BTCC Token" and is not endorsing the token.
He added BTCChina was the first cryptocurrency exchange based in China, and operated as such from 2011 to 2017. However, the company closed its digital exchange operations be...
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