Chinese crypto exchange Huobi, which recently has had to disavow the rumors about massive layoffs inside the company, unveiled the plans to move its headquarters to one of the jurisdictions in the Caribbean, with the Dominican Republic being the first candidate.
The reason is the region’s “super-friendly” crypto stance, common law systems and English language adoption.
According to FT, the company plans to move up to 200 employees out of 1,600 to the new HQ.
The Caribbean became a hot spot for the crypto industry, especially with the United States-founded exchange FTX moving from Hong Kong to the Bahamas in 2021.
Among other companies to register in local jurisdictions are Binance, C-Trade and PrimeBit.
Source: Cointelegraph
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