China Exits Crypto, Does it Threaten Binance Users? By CoinQuora

• China bans crypto trading in all forms.
• Binance and other crypto firms followed China’s crypto ban.

China once again has been the center of attention in the crypto world. In detail, the latest announcement made by the government of China banning crypto transactions in the country caused tension. This announcement made it clear to all the people in the country that they can no longer trade crypto assets in all forms. Indeed, this announcement shocked and made the crypto community in the country tremble.

To be specific, the Chinese citizens inside the country are not allowed to do trading, and order matching. Furthermore, the token issuance and derivative for virtual currencies are also prohibited.

Aside from the residents inside China, the People’s Bank of China (PBOC) also stated that exchanges abroad are also restricted. “Overseas virtual currency exchanges that use the internet to offer services to domestic residents are also considered illegal financial activity, PBOC said. ”

In the past month, the Chinese g…

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