<h4>Quick Take</h4> <ul> <li>Recently, two of China&#8217;s largest cryptocurrency exchanges, Huobi and OKCoin, both hosted conferences in the province of Hainan </li> <li>Facing regulatory pressure, the two exchanges may be trying to establish their legitimacy in China by associating themselves with government initiatives </li> <li>Meanwhile, the Hainan government is pushing for blockchain innovation in a bid that the new technology can boost the region&#8217;s economies &#8211; this plan may make the province a suitable location for crypto businesses to take shelter from the regulatory crackdown </li> </ul>