In response to recent claims made by Bloomberg, BC Technology, the parent company of OSL, has vehemently denied reports of a pending $128 million sale of its cryptocurrency exchange. The company filed an official statement with the Hong Kong Stock Exchange, asserting that Bloomberg’s report is “factually inaccurate and highly misleading.”
Initially, Bloomberg had reported that OSL was being offered for sale with a valuation of 1 billion Hong Kong dollars ($128 million). BC Technology, however, has dismissed these assertions, emphasizing the misinformation surrounding the alleged transaction.
BC Technology, along with HashKey, is one of the two entities to have obtained crypto licenses in Hong Kong under the new regulations enacted in June. These licenses enable them to cater to retail customers, with the application process incurring costs ranging from $12 to $20 million, as per sources cited by CoinDesk earlier.
A spokesperson for BC Technology, speaking to the South China Morning Post, highlighted the surge in client interest in OSL’s services. This uptick is attributed to recent enforcement actions against unlicensed and unlawful players in the Hong Kong crypto space, particularly noting the closure of JPEX and subsequent arrests.
Despite these developments, BC Technology experienced a 22% decline in its stock value at the close of trading in Hong Kong. The market response underscores the impact of the circulating rumors and the broader implications for the company in the midst of heightened regulatory scrutiny and market turbulence.
