Binance Abandons China and Chinese Traders Amid Regulatory Crackdown

Key Takeaways: Binance terminates the use of the Chinese Yuan as a FIAT currency. Further, Binance will no longer cater its services to Chinese traders. Earlier this week, Bitman announced that it will no longer supply Bitcoin mining equipment to China. The world’s largest cryptocurrency exchange Binance responds to the regulatory requirements of the local government by announcing CNY (Chinese Yuan)’s termination at the end of the year. In addition to this, Binance will lead an inventory of platform users imposing certain restrictions. If the platform finds users in mainland China, their respective accounts will be switched to the withdrawal … Continue reading Binance Abandons China and Chinese Traders Amid Regulatory Crackdown