Chinese Yuan Can No Longer Be Traded Through Binance

Şükriye Akdeniz

Oct 13, 2021

Binance has announced that it will remove the Chinese Yuan from trading

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Some of China's leading crypto exchanges have stopped their operations due to pressure from the regulators. Another crypto exchange that decided to cease its activities was Binance.
Binance, the world's largest crypto exchange, has announced that it will remove the Chinese Yuan from OTC trading.
Binance's OTC trading platform, also known as the C2C (client-to-client) marketplace, allows traders to place orders to buy or sell cryptocurrencies with virtually any fiat currency, at the exchange rates and payment methods of their choice. Binance announced on Wednesday that it will remove CNY trading from its platform in response to the government's regulatory requirements.
For Chinese users, Binance officials made the following statement:
“Investors in China will now only be able to withdraw funds. We will provide detailed information on the subject to all investors via e-mail.”

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