Chinese traders are losing the playing field when announced it will stop OTC trading of the Chinese yuan on December 31.

Binance Removes China's Yuan

Binance withdraws from the Chinese market

The company says this is related to the law.

Users in Mainland China will only be able to withdraw or close their positions.

This notice of It's really amazing to an intraday low of $54,684.

The company clearly states its commitment to comply with the law:

Binance withdrew from the mainland China market in 2017 and is not involved in the exchange business in mainland China. Binance takes compliance obligations seriously and strictly adheres to the relevant requirements of local regulatory authorities.

After China banned cryptocurrency exchanges in 2017, traders in the country largely relied on OTC exchanges.

WeChat blocks searches about cryptocurrencies

According to blogger Colin Wu, China's super app WeChat has banned search , Binance and other exchanges.

China's Leading Social Media Platform Has Stopped Showing Any Search Results Related to Cryptocurrency Exchanges

In a WeChat group, the founder it's Leon Le said that Huobi will leave China forever because of the dizzying repression.

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In late July, Huobi dissolved its Beijing headquarters established in 2013. In the same month, Binance was also blocked by China's 'great firewall'.

In June, Baidu and other search engines banned searches related to exchanges .

At the end of September, the firewall also blocked access to the 2 most popular cryptocurrency websites, which are CoinMarketCap and CoinGecko.

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