Binance is Planning to Enter Chinese Crypto Market: Industry Exec

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Popular crypto exchange Binance is planning to enter the Chinese market with the launch of its new China website. This comes after Binance was forced to leave China following strict regulations that shut down all domestic cryptocurrency exchanges in September 2017.Since then, mixed messages have been coming from Beijing. While financial institutions are not permitted to deal with crypto, it’s not illegal for a person to hold it.And when taken in conjunction with constant reports of anti-crypto moves, such as the proposed ban on Bitcoin mining, it’s clear the Chinese government holds a standoff approach as far as cryptocurrency is concerned.Source: twitter.comBut before crypto advocates rejoice, Binance’s come back is mostly in respect of education, and not for trading at this present time. Dovey Wan, the Co-founder of blockchain investment firm, Primitive Ventures noted:Looks like the CN site is mainly for blockchain courses. and other business include blockchain tech development, research and consulting, incubation, academy, talent service, Binance Chain, blockchain charity.”essentially unauthorized illegal public financing, suspected of illegal sale of tokens, illegal issuance of securities and illegal fund-raising.

Via: https://www.newsbtc.com

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