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Global crypto-currency crackdown sparks search for safe havens
Confronted with national regulators’ intensifying scrutiny of digital currency fund-raising, many entrepreneurs are moving businesses to locations more welcoming to crypto-currencies and known for low taxes. PHOTO | FOTOSEARCH
When US entrepreneur Bharath Rao looked around for the best place to raise money for his crypto-currency derivatives trading business, the United States did not make his list. Instead he chose the East African island nation Seychelles to sell the trading platform’s tokens.
Rao, a San Diego-based technology veteran who has worked for major Wall Street banks, is not alone.
