News Snapshot:
Chinese cryptocurrency managers turn to Hong Kong, Singapore to avoid crackdown China has been tightening scrutiny over cryptocurrencies as the People’s Bank of China (PBOC) launches its digital currency, partly as a response to the threat from currencies like bitcoin. 10:43 PM UTC Chinese cryptocurrency asset managers hope to avoid an intensified crackdown at home by expanding in places such as Hong Kong and Singapore. Cryptocurrency-focused hedge funds enjoyed hefty gains this year thanks to bitcoin’s recent surge to over $18,000, close to its 2017 high. China has been tightening scrutiny over cryptocurrencies as the People’s Bank of China (PBOC)...
