Facing regulatory pressure, Chinese exchanges want to establish legitimacy by cozying up with one local government

Quick Take

  • Recently, two of China’s largest cryptocurrency exchanges, Huobi and OKCoin, both hosted conferences in the province of Hainan 
  • Facing regulatory pressure, the two exchanges may be trying to establish their legitimacy in China by associating themselves with government initiatives 
  • Meanwhile, the Hainan government is pushing for blockchain innovation in a bid that the new technology can boost the region’s economies – this plan may make the province a suitable location for crypto businesses to take shelter from the regulatory crackdown 

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Facing regulatory pressure, Chinese exchanges want to establish legitimacy by cozying up with one local government written by Celia Wan @ https://www.theblockcrypto.com/daily/50238/facing-regulatory-pressure-chinese-exchanges-want-to-establish-legitimacy-by-cozying-up-with-one-local-government?utm_source=rss&utm_medium=rss December 13, 2019 Celia Wan

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