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Binance to suspend services for Chinese users by year-end

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by Gauri Bhatia
13 October 2021
Binance to suspend services for Chinese users by year-end
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Following a recent ban on cryptocurrencies in China, Binance, a major crypto exchange, has decided to suspend its services to users in mainland China by year-end.

Apart from this, the exchange stated that it would discontinue Chinese yuan trading on its P2P platform from December 31.

For users in mainland China, Binance has switched their accounts to ‘withdrawal only’ to liquidate their assets.

On September 24, Chinese financial regulators put a nationwide ban on crypto trading, mining, and related businesses. The move led several exchanges, wallets, and other crypto-related companies to close their accounts in mainland China.

Soon after the announcement, Binance stopped accepting registration from Chinese users.

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Gauri Bhatia

Gauri Bhatia

Gauri is a full-time Content Writer at Our Bitcoin News. With a degree in Economics, she covers major news and concerns surrounding crypto-space.

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