Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is no longer accessible to users in China. The website of the exchange now displays a message informing users that “Binance is currently not available in your country.”
The ban appears to be part of a wider crackdown on cryptocurrency trading by the Chinese government. Earlier this week, reports emerged that Chinese authorities were planning to block domestic access to overseas cryptocurrency exchanges and ICO websites.
It’s not clear exactly when Binance was blocked in China. The exchange’s website was still accessible in the country as of Wednesday morning, but by Thursday afternoon the site was inaccessible.
NOTE: WARNING: Binance has not been banned or blocked in any country. However, it is important to note that cryptocurrency trading is generally restricted in some countries and that users should always be aware of the local regulations in their jurisdiction before engaging in any cryptocurrency trading activities.
Binance has not yet released an official statement on the matter, but CEO Zhao Changpeng told Bloomberg that the exchange is “working on getting it back up.”
Update: Binance has issued a statement confirming that its website has been “temporarily” blocked in China. The exchange says it is “working hard” to resume service for its Chinese users.
The news of Binance’s ban in China sent shockwaves through the cryptocurrency community, with many worried that other exchanges could be next. Indeed, BTCChina, one of China’s largest exchanges, has already announced that it will stop trading on September 30th in response to new regulations from Chinese authorities.
It remains to be seen how long Binance will be blocked in China, or if other exchanges will follow suit. For now, though, it looks like the crackdown on cryptocurrency trading in China is only getting started.
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