Binance to halt Chinese yuan trading amid Beijing's crypto crackdown
The Hindu
Binance's origins lie in China, though it emphasised in Wednesday's statement that it withdrew from mainland China in 2017, the time of a previous regulatory crackdown.
Binance will stop the use of the Chinese yuan on its peer-to-peer trading platform, the latest move by major global cryptocurrency exchanges to cut their ties with mainland Chinese investors following an intense crackdown on the sector.
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Binance, one of the world's largest exchange by trading volumes, said in a Wednesday statement it will remove the Chinese yuan section of its consumer-to-consumer platform on Dec. 31 this year, and mainland Chinese users will have their accounts switched to "withdraw only mode"
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