BiBit Considers Closing Shanghai Office, Shifting Chinese Staff to Dubai
CryptoNewsTerminal Staff10 Jun, 2024
BiBit Considers Closing Shanghai Office, Shifting Chinese Staff to Dubai
BiBit, a well-known cryptocurrency exchange, is contemplating the closure of its offices in Shanghai and Shenzhen, China, according to a report from Wu Blockchain, a renowned cryptocurrency media source. The company has also reportedly begun relocating its Chinese staff to its offices in Malaysia and Dubai. This development comes after BiBit recently opened its registration to Chinese users. At the time, the company stated that this decision was made in response to the increasing demand for user-friendly cryptocurrency trading platforms among overseas Chinese and the global Chinese community. The potential closure of BiBit's Chinese offices and the relocation of its staff have raised questions about the company's future in China. BiBit has faced scrutiny and regulatory challenges in China in recent months, prompting the company to explore alternative markets. It remains to be seen whether BiBit will ultimately close its Chinese offices and the impact it will have on the company's operations.
