Huobi has chosen Singapore as its new regional headquarters.
The leading crypto-asset trading platform Huobi has left China due to pressures on the crypto industry. The company has now announced that it has acquired Singapore as its new regional headquarters. The company also wants to increase its market weight in Europe with another regional headquarters in the UK or France in the next two years.
As it is known, China has tried to ban activities related to the crypto sector many times before. Huobi started a Singapore-based startup after China banned crypto-asset trading platforms in September 2017. Now, the launch of this center has been interpreted as there will be no turning back.
As we reported earlier, China just returned with recurring sanctions on the crypto sector earlier this year, causing Bitcoin miners to leave the country. He outlawed crypto-asset transactions in a series of notices in September. Following the ban, the company had to block users in mainland China.