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Chinas long arm Companies and traders have been finding ways to get around the ban. As Robin Zhu, COO of Huobi, told Coindesk: If you have assets in an exchange and now you are prohibited from accessing it through a normal process, you definitely will rack your brain to get in there.

Huobi is one of the major Chinese cryptocurrency outfits that moved abroad since the crackdown began late last year. The exchange opened offices in Hong Kong, Singapore, South Korea and the US.

Other examples include Binance, which is consistently ranked in the worlds top three exchanges by trading volume, setting up offices in Japan and Hong Kong, and mining giant Bitmain which opened in Singapore, Canada and the US.