Caixin
Dec 11, 2017 08:13 PM
FINANCE

Chinese Bitcoin Exchange Goes Overseas After Government Shutdown

Huobi, along with OKCoin and BTC China, were once China’s three largest cryptocurrency exchanges, facilitating 60% of all transactions in China. All Chinese cryptocurrency exchanges closed by the end of October after initial coin offerings, a way of fundraising through new cryptocurrencies, were deemed illegal a month earlier. Photo: Visual China
Huobi, along with OKCoin and BTC China, were once China’s three largest cryptocurrency exchanges, facilitating 60% of all transactions in China. All Chinese cryptocurrency exchanges closed by the end of October after initial coin offerings, a way of fundraising through new cryptocurrencies, were deemed illegal a month earlier. Photo: Visual China

A shuttered Chinese bitcoin exchange operator has found new life in Japan.

Huobi Group, the first major Chinese cryptocurrency exchange making a foray overseas since the government crackdown in September, announced on its Weibo account last Thursday that it and Japanese financial firm SBI Holdings Inc. will cooperate on two new cryptocurrency exchanges in Japan.

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