RRMine Global, a Filecoin service provider offering global cloud computing asset management, announced on Wednesday that it has closed its operations in mainland China and will move its headquarters to Singapore.
The company said the decision to move and release updates to its system came after changing its name from RRMine to RRMine Global.
RRMine Global is ending its operations in mainland China after the Chinese government has tightened restrictions on cryptocurrencies, signaling the government’s commitment to heavily regulate the Web 3.0 industry. Steve Tsou, the Global CEO of RRMine Global, shared:
“Like other employers, we want what is best for our company, our employees and our community. The decision has been made after careful consideration and many discussions.”
Singapore seems like an obvious choice for the project as many Chinese Web 3.0 companies have already relocated to the country. Singapore offers a relatively balanced regulatory approach towards the emerging cryptocurrency industry, and has a reputation as one of the world’s leading open economies.
The company has also revealed the official launch of a new update service “R-Datacap storage” that is expected to reduce operating costs and increase performance efficiency.
CEO Steve Tsou stated: “We are taking the lead in research and development of Web 3.0 technology to create a more efficient system to address the problem.” Data storage providers will receive an exit incentive ten times that of proposal FIP-0012, which Filecoin approved. We are very excited to bring this innovation to RRMine Global and Filecoin users very soon. It will certainly be a game changer for our storage industry.”
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