Huobi Created Communist Committee
Huobi has created a Communist Committee within its company. This move is mandatory for state-owned enterprises. However, other major companies like Tencent and Alibaba have taken similar steps before. China positively regulates the use and application of blockchains but it forbade the trade of cryptocurrencies earlier this year. Huobi reacted by moving its exchange to Singapore. With this step Huobi’s management seems to try to appease the Communist government to allow for future operations within the country.
Huobi’s Office in Moscow – Part of a Wider Scaled Expansion
Huobi makes another headline today as it’s plan to open an office in Moscow is reportedly part of a wider scaled expansion in Russia. Apparently, Huobi rents and lends mining space to miners in the country and wants to participate in shaping positive regulation on the sector. Another approach is to train locals to become experts in the sector. The language barrier to existing exchanges that mainly offer services in English, Chinese, Korean and Japanese have excluded Russian traders and potential clients from investing in cryptocurrencies.
Exchanges Appoint Bitcoin Cash ABC as Winner
Some exchanges like Kraken and Huobi have announced already that they are going to give or already have given the Bitcoin Cash ABC fork the ticker of BCH. Bitcoin Cash ABC led the hash war from the beginning on with higher hash power and faster block creation. Meanwhile, Bitcoin Cash SV has caught up regarding the block height but ABC still outpaces it in hash power by far.