Crypto exchange Huobi Global, one of the largest cryptocurrency platforms in Asia is planning to move to the Caribbean and will decide whether it will be Dominica, Panama, and the Bahamas.
The exchange, founded in China in 2013, is currently based in Seychelles. Justin Sun, founder of the Tron blockchain network and an adviser to the company confirmed Huobi Caribbean move in a Tweet.
Sun, who stepped down as Tron’s CEO to become Grenada’s ambassador to the World Trade Organization last year, loves the Caribbean’s “super-friendly” crypto stance, use of English and common law-based legal systems, made it an attractive region to set up shop.
Dominica is likely to be the destination as Tron entered into an agreement with the Dominican government to issue a national fan token to promote the island’s heritage and tourism.
The move would mark the latest instance of a crypto exchange migrating from Asia to the Caribbean in search of a more crypto-friendly regulatory environment. Last September FTX moved its headquarters from Hong Kong to the Bahamas and OKX just opened offince this month with Dr Jillian Bethel as the company CEO.
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