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Justin Sun to move crypto exchange Huobi's Asia HQ to Hong Kong

Decision comes as city looks to become regional leader in digital assets

HONG KONG -- Crypto entrepreneur Justin Sun says he will move cryptocurrency exchange Huobi's Asia headquarters from Singapore to Hong Kong to capitalize on the city's attempts to establish itself as a digital asset hub.

Sun, who is also the founder of blockchain network TRON, said in an interview with Nikkei Asia that he planned to expand Huobi's operations in the financial hub by increasing staff head count there from 50 to 200 by the end of this year. He cited the crypto-friendly policies that were recently introduced by the Hong Kong government, including allowing retail participation in the market, as factors in his decision.

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