Officially opened in South Korea on the Hubei stock exchange, which was originally set up in Beijing, according to the official announcement of the Hubei Group on March 30.
The new subsidiary of Hubei in South Korea supports 100 currencies and trades in 208 markets (77 from ethrium markets, 98 from Betquin markets and 33 from Teter).
It also provides an investor protection fund and program to quickly compensate investors for losses incurred outside their control.
The global hubei bourse is the second largest in terms of volume, according to the Quinmark Capital website at the time of publication.
Hubei launched the Singapore-based Hubei Pro Stock Exchange after the Chinese government imposed restrictions on its initial digital currency and local currency exchanges in September 2017. China's measures continued to tighten in January and February this year.
Amidst this regulatory attack, Hubei is now targeting foreign markets
Where it is estimated that the country has the largest base of digital currency users in the world after the United States and Japan. The country allegedly has dozens of digital currency exchanges.
In December 2018, the Korean government banned digital currency trading anonymously. In January 2018, more than 200,000 South Koreans signed a public petition following false rumors of a national ban on digital currency trading.
The South Korean government is reportedly looking to abolish the ban on digital currency initial offerings, while six major national banks continue to support digital currency exchanges.
A tax framework for the digital currency market in South Korea is also due to be unveiled in June.
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