Binance cryptocurrency exchange will delist the pairs with the Chinese yuan, as well as close access to the platform for users from China.
Binance will stop serving Chinese users – they will only be able to withdraw deposits to close their positions. The exchange will check the customer base for PRC users and notify them by email of the termination of services seven days before closing their account.
This decision was made by Binance against the backdrop of a statement by Chinese regulators that any transactions with digital assets in the country are considered illegal. As a result of the tightening of legislation by the Chinese authorities, more than twenty cryptocurrency companies have suspended or restricted their activities.
In September, exchanges Binance and Huobi suspended services for new traders from the PRC. Following the giants of the industry, the Hong Kong cryptocurrency exchange BitZ stopped serving customers from China – the platform began to withdraw user deposits from the site.
The KuCoin trading platform has become another victim of the cryptocurrency ban in China. The exchange intends to say goodbye to the country completely, including Chinese users. In addition, mining hardware manufacturer Bitmain recently stopped supplying Antminer ASIC miners to buyers in China.
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