Chinese Exchanges Seek Second Chance in Japan and Other More Crypto-Friendly Countries
Following the crackdown by the Chinese authorities final month, bitcoin exchanges in China want to proceed their companies in cryptocurrency-friendly international locations. Nineteen chinese language firms are reportedly making use of for a license to function in Japan, whereas others are contemplating Singapore, Hong Kong, and South Korea.
Additionally learn: Japan’s GMO Plans to Promote 7nm Bitcoin Mining Boards Utilizing Token Sale
Chinese Exchanges Migrating Overseas
Chinese exchanges are reportedly in search of emigrate their operations to different Asian international locations which are extra cryptocurrency-friendly, following China’s clampdown on crypto buying and selling and preliminary coin choices (ICOs). In line with Bloomberg:
They’re making use of for licenses in Japan — solo or by way of companions — establishing over-the-counter retailers in Hong Kong, or laying the groundwork to function from Singapore and South Korea.
Hong Kong-based Lennix Lai, the…