Major Chinese cryptocurrency exchange Huobi is going to use Singapore as its new regional headquarters, according to Information by Bloomberg.
Furthermore, The crypto giant, Huobi targets to expand its presence in the European market. Of course, this will be through establishing a regional base in the U.K. or France within the next two years.
More so, After China’s Ban on crypto exchanges in September 2017, Huobi places an entity in Singapore. So, the launch of the new headquarters indicates a finalization to the plan.
Recall, Earlier this year, Beijing places ban on cryptocurrencies by removing all local Bitcoin miners. Then, declares cryptocurrency transactions illegal in late September.
Meanwhile, Huobi is going to ban users from mainland China in response to the crackdown.
Also, Huobi notes dropping users from Singapore by the end of March 2022.
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