Thursday, 2 December 2021

Binance to stop cryptocurrency trading involving RMB

5 min read

13 October 2021 – The largest cryptocurrency trading platform Binance is set to stop allowing trading involving the RMB on its platform. The move comes after China’s crackdown on cryptocurrencies and ban on crypto transactions and mining. Binance said that it will remove the RMB section of its consumer-to-consumer platform on 31 December 2021, and mainland Chinese users will have their accounts switched to “withdraw only mode”. The exchange has already blocked new sign-ups from mainland China.

News source: Wall Street Journal and Reuters

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