Home CryptocurrencyBitcoin Filecoin service provider announces move to Singapore in light of tightening restrictions in China

Filecoin service provider announces move to Singapore in light of tightening restrictions in China

by SuperiorInvest

RRMine Global, a filecoin service provider offering global cloud computing asset management, he announced Wednesday that it closed business operations in mainland China and moved its headquarters to Singapore.

The company said the decision to move countries and launch upgrades to their system came after rebranding from RRMine to RRMine Global.

RRMine Global is ending its operations in mainland China after the Chinese government tightened restrictions on cryptocurrencies, signaling the government’s determination to heavily regulate the Web3 industry. Steve Tsou, Global CEO of RRMine Global, shared:

“Like other entrepreneurs, we want the best for our company, employees and community. The decision was made after careful consideration and much discussion.”

Singapore seems to be an obvious choice for this project as many Chinese Web3 companies have already moved to the country. Singapore offers a relatively balanced regulatory approach to the burgeoning crypto industry and has a reputation as one of the world’s leading open economies.

The company also revealed the official launch of a new ‘R-Datacap storage’ upgrade service, which is expected to reduce operating costs and increase revenue efficiency.

CEO, Steve Tsou, said: “We are taking the lead in the research and development of Web3.0 technology to create a more efficient system to solve this problem. Data storage providers will receive ten times the output incentive under the FIP-0012 proposal that Filecoin approved. We are excited that we can bring this innovation to RRMine Global and Filecoin users very soon. It will undoubtedly be a game changer for our storage industry.”

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