Share this article
Binance to Delist Chinese Yuan Trading From C2C Platform
The crypto exchange will also run “inventory” to make sure none of its users are from mainland China.
Updated May 11, 2023, 5:19 p.m. Published Oct 13, 2021, 6:54 a.m.
Crypto exchange Binance will delist the Chinese yuan from its consumer-to-consumer (C2C) trading platform, according to a Wednesday press release.
- The exchange will also run “inventory” on its users to ensure none are located in mainland China. Chinese users will have their accounts switched to “withdrawal only” so they can close their positions. These users will be notified by email seven days before their accounts are closed.
- A Sept. 24 announcement from China’s top financial and tech regulators declared all crypto-related transactions illegal, and kick-started a renewed crackdown on crypto in the country.
- As a result, dozens of exchanges, wallets and other crypto firms have shut down or will be retiring China-based user accounts. Notably, Huobi announced it will be gradually expelling all Chinese users.
- The day after the Sept. 24 policy update, Binance stopped accepting Chinese phone numbers for registration, Bloomberg reported. On Sept. 26, it told Chinese media that it does not have any crypto exchange business in China.
Read more: Ahead of Crackdown, Huobi Scrambled to Move Staff Out of China, Insiders Say
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
U.S. Market Structure Bill May Slide to January as Talks Continue Over Several Points
While legislative language circulates among all four corners of the talks — industry, White House, Republicans and Democrats — the process is still mid-stride.
Top Stories
