Filecoin Service Providers Have To Move To Singapore Due To China’s Harshness

RRMine Global, a Filecoin service provider has announced to move its business in mainland China to Singapore due to tightening policies. Service providers also announce a new system upgrade to increase productivity.

RRMine Global, a provider of Filecoin services that offers worldwide cloud – computing asset management, declared on September 13 that it has stopped doing business in mainland China and is moving its corporate headquarters to Singapore.

The business said that after changing its name from RRMine to RRMine Global, it decided to relocate its operations and introduce system changes.

After the Chinese government strengthened cryptocurrency restrictions, RRMine Global is ceasing operations there, indicating the government’s resolve to tightly controlling the Web3 sector.

“Very much like other entrepreneurs, we want the best for our company, employees, and community. The decision has been made after a profound examination and multiple discussions”

Steve Tsou, the Global CEO of RRMine Global, shared

Given the large number of Chinese Web3 companies that have already relocated there, Singapore looks like a natural choice for the project. Singapore, which has a reputation for being one of the most open economies in the world, takes a rather balanced regulatory approach to the developing crypto business.

The business also announced the official debut of a new upgrading service called “R-Datacap storage”, which is anticipated to save operating expenses and boost yield efficiency.

“We are taking the lead in Web3.0 technology research and development to create a more efficient system for tackling the issue. Data storage providers will receive ten times the output incentive under the FIP-0012 proposal, which Filecoin approved. We are excited to bring this innovation to RRMine Global and Filecoin users very soon. It will undoubtedly be a game changer for our storage industry.”

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