Binance, Exchanges

Why Is Binance Banned?

Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is no longer available to residents of China. The exchange announced the news on Weibo, a Twitter-like service in China, and said it would “strictly abide by” the country’s recent crackdown on cryptocurrency trading.

The move comes as China has intensified its efforts to stamp out cryptocurrency trading. In the past week, the country’s central bank has ordered a halt to all virtual currency trading platforms that allow Renminbi-to-cryptocurrency conversions.

NOTE: WARNING: Binance is currently banned in some countries and jurisdictions due to regulatory concerns. Before engaging in any activity related to Binance, it is important to understand the laws and regulations applicable in your jurisdiction. Any individual or business entity that chooses to use Binance should be aware of potential risks associated with trading on the exchange, including potential legal repercussions.

Binance is the latest casualty of this crackdown.

Binance said it would “strictly abide by” the Chinese government’s recent crackdown on cryptocurrency trading. The move comes as China has intensified its efforts to stamp out cryptocurrency trading.

In the past week, the country’s central bank has ordered a halt to all virtual currency trading platforms that allow Renminbi-to-cryptocurrency conversions. Binance is the latest casualty of this crackdown.

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