The Bank of China (PBOC) cryptocurrency transactions The effects of declaring it illegal continue. Binance, the world’s largest cryptocurrency exchange, announced that it will cancel trading with China’s currency, the Yuan, after being banned from the country. He also stated that he will only offer ‘withdrawal’ services to citizens. Other exchanges have also announced that they will stop serving their Chinese customers.
The Chinese decision that shocked Binance!
Binance shocked with its decision. At this point, it announced that it will end the use of the Chinese Yuan and its date.
WeChat bans ‘searching’ cryptocurrency exchanges
A platform that banned the crypto money industry in China was WeChat. Platform with more than 1 billion monthly active users Huobi, Binance, Ouyi started to impose an embargo on all exchanges in the country, including the search engine. Any words related to these exchanges will not be searchable in the Chinese version of WeChat. The algorithm of the application automatically will prevent.
China’s largest search engines, especially Baidu, took the same decision in June. Popular cryptocurrency exchanges such as Binance, Huobi, OKEx to research even blocked. According to the news of U.Today, Huobi founder Leon Li made a statement on the WeChat group. due to increasing pressures announced that they will completely leave the Chinese market.
Alibaba struck one of the hardest blows
Entering the top 3 among the world’s largest e-commerce platforms, Alibaba offers hardware and software used for cryptocurrency mining. banned the sale. It also included materials prepared to give information about mining within the scope of the ban. also Consumer Electronics > Blockchain Miners and Blockchain Miner Accessories Also removed the named categories from the site.
The company also noted that it will impose sanctions on users who do not comply with the rules, such as closing accounts and restricting the site.