CHANGSHA, China, June 25, 2021 /PRNewswire/ -- Bit Brother Limited
(the "Company," "we" or "Bit Brother") (NASDAQ: BTB) is pleased to
announce that effective on June 16,
2021, its name has changed from Urban Tea Inc. to Bit Brother
Limited, and its ticker symbol has changed from MYT to BTB,
reflecting our vision for the future to conduct business in the
cryptocurrency and blockchain industry.
We are also pleased to announce that our US subsidiary, Bit
Brother New York Inc. ("Bit Brother NY"), has obtained the money
services business (MSB) license from the U.S. Financial
Crimes Enforcement Network (FinCEN) Department of the Treasury. The
MSB license issued by FinCEN allows Bit Brother NY to act as a
foreign exchange dealer, money transfer agent and seller of money
orders.
Mr. Xianlong Wu, CEO of Bit Brother, commented, "We are on track
to roll out our cryptocurrency and blockchain business. We
anticipate setting up a cryptocurrency payment system in the near
future and receiving the MSB License is a milestone in our
compliance efforts. We plan on continuing to work on acquiring
additional State licenses and permits for money services
businesses."
About Bit Brother Limited.
Bit Brother Limited (formerly known as Urban Tea, Inc.)
was incorporated in the British Virgin
Islands as a company with limited liability on November 28, 2011. Our business currently
consists of the distribution and retail of specialty tea
products.For more information, please visit:
http://ir.h-n-myt.com/investor.
Forward-Looking Statements
This press release contains certain statements that may include
"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involving known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including the risk factors discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on the SEC's website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these risk factors. Other than as required under the
applicable securities laws, the Company does not assume a duty to
update these forward-looking statements.
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SOURCE Bit Brother Limited