Binance is the world’s largest cryptocurrency exchange.
The news was published overnight, so it was released as ICYMI, with no interruptions or anything.
Binance to Stop Offering Peer-to-Peer Trading Service in China by End of 2021
- The company largely pulled out years ago, but that will finalize it.
- “in response to regulatory and political demand,” the company said
- comes after the People’s Bank of China (PBOC) recently warned that any foreign cryptocurrency exchange that provides services to Chinese citizens through the internet is engaged in illegal financial activities.
The information comes from the South China Morning Post which adds as an explanation:
- The peer-to-peer service allowed residents of mainland China to buy and sell digital currencies bilaterally using fiat currencies such as the yuan, even though Binance practically left China in 2017 after the government severely cracked down on cryptocurrency exchanges that year.
And, an update on BTC – had a solid payoff