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It seems like this is a civil war because Binance itself is limiting their platform to users in China and this is something that is very confusing because the founder of Binance is from China.
What I don't like is the regulations developed in China against cryptocurrencies which always give something very bad effect on Binance.
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Binance to halt Chinese yuan crypto OTCs and restrict China user access.
Binance has said it will halt the marketplace for the Chinese yuan over-the-counter (OTC) trading on its platform following China's latest crypto trading crackdown.
Binance, one of the major crypto exchanges that have a significant number of China-based customers, said in a Chinese statement on Wednesday that it will delist the Chinese yuan OTC marketplace after December 31.
Further, the exchange said it will restrict the access for mainland China customers but does not indicate if it will retire all China-based accounts.
"If the platform finds out mainland China users, Binance will restrict such accounts to the withdrawal-only mode. Users will only be able to withdraw assets, cancel orders, redeem or close positions," Binance said in the statement.
