Mathisen Marketing

Your Marketing Blog

Filecoin Crypto Miner RRMine Global Moving to Singapore

Filecoin Crypto Miner RRMine Global Moving to Singapore

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Filecoin (FIL) service provider company RRMine Global announced on Tuesday, September 13, 2022 that it will close its operations in China. The company announced its intention to move to Singapore. Filecoin’s crypto miner came after mainland China’s crackdown on crypto and crypto activities. It is noteworthy that China completely banned crypto and its activities from trading to mining.

According to RRM’s statement, the need to make this move arose as a result of China’s strict crypto restrictions. This action indicated that China may be pursuing a completely different Web3 development strategy.

However, in several cases, Chinese officials announced that they are working to make the country a prominent player in Web3 development around the world, despite their distaste for cryptocurrencies.

According to a newspaper report, in December 2021, police arrested RRMine leaders in Chengdu, which is part of the southwestern province of Sichuan.

After moving to Singapore, Filecoin crypto miners changed their name to RRMine Global.

RRMine Global chief executive Steve Tsou said the move was not an easy one to take given the company’s comeback from its precipitous collapse. He added that the company always offered its services to users around the world, even if they themselves face strange situations.

The Filecoin (FIL) crypto is specially designed to facilitate the buying and selling of computer storage through the system. It provides a distributed storage space for keeping data and files.

Tough regulations on crypto

When it comes to crypto companies leaving China, RRMine is just one example of that. So many companies left the country and shifted their entire operations and infrastructure to other countries like Singapore, Dubai etc.

Although Singapore seems to be better than China, it was seen that the former’s regulators have also turned skeptical towards the crypto industry. Their actions in institutions and crypto exchanges reflect their intentions. In addition to this, there were several cases where regulators were found to support China’s stance against crypto.

Source: https://www.thecoinrepublic.com/2022/09/17/filecoin-crypto-miner-rrmine-global-moving-to-singapore/

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published.

Latest Posts

  • Where to Buy API3 (API3) Crypto: Complete Beginner’s Guide

    Where to Buy API3 (API3) Crypto: Complete Beginner’s Guide

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Decentralized Autonomous Organizations DAOs provide hands-off governance for blockchain projects. One of the more recent projects disrupting this space is API3. The project aims to tackle the ‘Oracle problem’ acting as a solution to connect APIs from data providers. Building […]

    Read More

  • Here’s the full scope of Avalanche’s updates on AVAX’s price action

    Here’s the full scope of Avalanche’s updates on AVAX’s price action

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Avalanche recently into the limelight, several interesting events took place in its ecosystem, each of which looked promising. For example, the network recently partnered with Chainlink to join the SCALE program. The same allows blockchain partners to access new oracle […]

    Read More

  • NFT News Roundup – 01/10/22

    NFT News Roundup – 01/10/22

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Reading time: 2 minutes It’s Sunday and that means it’s time for our NFT roundup. And boy, do we have a selection for you today: do you want Myspace 2.0? You got it. Do you want digital bears? You got […]

    Read More