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Cryptocurrencies

Asia rises as key frontier in bitcoin's next stage

Regulatory scrutiny intensifies but China remains mining hub

Regulators across Asia are grappling with the cryptocurrency industry that began with bitcoin's invention 10 years ago.

TOKYO/HONG KONG -- With $300 million in fresh funding, one of the biggest U.S. cryptocurrency exchanges is looking for a foothold in Asia, a signal of the region's growing clout as bitcoin looks into the next decade.

Coinbase on Tuesday said it secured the investment at an $8 billion valuation to fuel global expansion. One of its main targets is Japan, where it is awaiting regulatory approval. Meanwhile, China's strong influence in the creation of bitcoin and diverging regulatory tolerance across Singapore and India have captured the interest of investors and industry players.

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