China's cryptocurrency barons seek new life in Japan, HK
Beijing's clampdown on trading and coin offerings is forcing them from their home turf into friendlier Asian jurisdictions
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CHINA'S largest cryptocurrency operators are proving hard to keep down.
From OKCoin to Binance.com, Chinese exchanges and wallet services are seeking a second life in friendlier Asian jurisdictions as Beijing clamps down on trading and coin offerings. Going it alone or with partners, these services are applying for licences in Japan, setting up over-the-counter shops in Hong Kong, or laying the groundwork to operate from Singapore and South Korea.
Forced from their own home turf, the players that once dominated the world's largest digital currency market are betting that investors harbouring an insatiable demand for alternative investments will follow. Going abroad may help operators hedge risks, attract new customers and stake out other corners of the US$170 billion industry.
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