Introduction
BTCC (formerly BTC China) is a leading cryptocurrency exchange established in June 2011. Headquartered in London, UK, it operates globally under the trade name "BTC & Crypto." This article explores BTCC's history, leadership, regulatory challenges, and international expansion.
Company Profile
| Detail | Information |
|---|---|
| Trade Name | BTCC |
| Industry | Cryptocurrency Exchange |
| Headquarters | London, United Kingdom |
| Website | www.btcc.com |
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Historical Background
- 2011: Founded as BTC China, one of the earliest Bitcoin exchanges.
- 2013: Bobby C. Lee (ex-Yahoo! and Walmart China executive) became CEO, driving rapid growth.
- 2017: Ceased trading in China following regulatory bans on ICOs.
- 2018: Acquired by a Hong Kong-based blockchain fund, pivoting to international markets.
Leadership and Expansion
Bobby C. Lee, a Stanford computer science graduate, spearheaded BTCC's rise. His brother, Charlie Lee, created Litecoin. Under Bobby's leadership, BTCC secured $5 million in Series A funding in 2013 from Lightspeed Venture Partners.
Regulatory Challenges
- 2013: Temporarily suspended Yuan deposits due to PBOC regulations, resuming in 2014 after clarification.
- 2017: Halted operations in China amid stricter crypto policies.
- 2022: Reported as unregistered in South Korea, among other jurisdictions.
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Global Footprint
Post-2018, BTCC expanded into:
- Taiwan
- Japan
- South Korea (later flagged for non-compliance)
FAQ Section
1. What does BTCC stand for?
Originally "BTC China," it now represents "BTC & Crypto."
2. Is BTCC available in China?
No. It ceased mainland operations in 2018 after its acquisition.
3. Who owns BTCC?
A Hong Kong-based blockchain investment fund (undisclosed name).
4. Why was BTCC banned in South Korea?
It lacked proper registration under local financial laws.
5. Does BTCC accept fiat deposits?
Yes, though policies vary by region post-regulatory changes.
Conclusion
BTCC remains a key player in the crypto exchange landscape, adapting to global regulations while expanding its multilingual platforms. Its journey reflects broader industry shifts toward compliance and internationalization.