Meitu has been listed on Hong Kong Stock Exchange since 2016 and is the first publicly-listed Chinese company to announce its crypto purchase. Amid unclear crypto regulations in China, the firm’s move could trigger a domino effect in the Chinese ecosystem. However, as of press time, the Chinese state or any of its financial regulators were yet to respond to the announcement. Silence from regulators could nudge other institutional investors to follow suit.
The firm’s board of directors is positive that both assets will perform well in the future. They said:
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Source: Cryptocurrency - investing.com
