Following the crackdown by the Chinese government last month, bitcoin exchanges in China are looking to continue their businesses in cryptocurrency-friendly countries. Nineteen chinese companies are reportedly applying for a license to operate in Japan, while others are considering Singapore, Hong Kong, and South Korea.
According to Bloomberg:
"They’re applying for licenses in Japan — solo or via partners — setting up over-the-counter shops in Hong Kong, or laying the groundwork to operate from Singapore and South Korea."
Source:
https://news.bitcoin.com/chinese-exchanges-japan/What will be the impact of Chinese exchanges migrating to other cryptocurrency friendly countries on Bitcoin and other alternative coins price? Any possitive and negative effects? Thoughts?
