{"id":199928,"date":"2021-09-27T14:00:33","date_gmt":"2021-09-27T13:00:33","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=199928"},"modified":"2021-09-28T07:29:41","modified_gmt":"2021-09-28T06:29:41","slug":"binance-has-no-business-in-china-notes-changpeng-zhao-amidst-crypto-crackdown","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/binance-has-no-business-in-china-notes-changpeng-zhao-amidst-crypto-crackdown\/","title":{"rendered":"&#8216;Binance has no business in China,&#8217; notes Changpeng Zhao amidst crypto crackdown"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">It is no longer news that China has declared all crypto-related trading illegal within its jurisdiction. However, <\/span><a href=\"https:\/\/cryptoslate.com\/why-binance-smart-chain-and-pancakeswap-remain-an-important-part-of-defi\/\"><span style=\"font-weight: 400;\">Binance<\/span><\/a><span style=\"font-weight: 400;\">, the largest crypto exchange in the world by trading volume, has come out to say that the firm has had no business in the Asian country for a while now.<\/span><\/p>\n<h2><strong>Binance has no business in China<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">According to a press statement obtained by a <\/span><a href=\"https:\/\/www.chinastarmarket.cn\/detail\/842067\"><span style=\"font-weight: 400;\">local Chinese media house<\/span><\/a><span style=\"font-weight: 400;\">, it was revealed that the CZ-led exchange had stopped dealing with the country since 2017.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cSince 2017, Chinese users have been unable to access the Currency Security website, and there is currently no exchange business in China,\u201d the statement reads in part.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Binance responded to the Chinese media: We have not allowed Chinese people to use it since 2017, and we have no exchange business in China. <a href=\"https:\/\/t.co\/R62hARGqxy\">https:\/\/t.co\/R62hARGqxy<\/a><\/p>\n<p>&mdash; Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1442043691233787909?ref_src=twsrc%5Etfw\">September 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The exchange continued that it had chosen to discontinue its operation in China because of the \u201cimportance\u201d it attaches to complying with local regulations.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.reuters.com\/world\/china\/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24\/\"><i><span style=\"font-weight: 400;\">Reuters<\/span><\/i><\/a><span style=\"font-weight: 400;\"> had first reported the severity of the new ban has it revealed that \u201cten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out &#8220;illegal&#8221; cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This move, according to <\/span><a href=\"https:\/\/amp.scmp.com\/business\/companies\/article\/3150149\/bitcoin-exchanges-binance-and-huobi-stop-taking-mainland-chinese\"><i><span style=\"font-weight: 400;\">South China Morning Post<\/span><\/i><\/a><i><span style=\"font-weight: 400;\">, <\/span><\/i><span style=\"font-weight: 400;\">has<\/span> <span style=\"font-weight: 400;\">forced<\/span> <span style=\"font-weight: 400;\">top crypto exchanges like Binance and Huobi, to \u201cstop letting traders use mainland China mobile numbers to register new accounts following China\u2019s latest pronouncement.\u201d<\/span><\/p>\n<h2><strong>Reactions trail China\u2019s new \u201ccrypto ban\u201d<\/strong><\/h2>\n<p><a href=\"https:\/\/cryptoslate.com\/china-court-doubles-down-on-crypto-fud-says-sector-not-protected-by-law\/\"><span style=\"font-weight: 400;\">China\u2019s<\/span><\/a><span style=\"font-weight: 400;\"> new crypto ban is the most recent in its long history of clampdowns against the digital asset industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Asian country had first issued similar crypto bans in 2013 and 2017 before renewing hostilities against the industry earlier this year when it cited the environmental impacts of mining the assets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to its history with the space, some crypto enthusiasts have <\/span><a href=\"https:\/\/twitter.com\/KhuatQuangVinh1\/status\/1442044290733993987?s=20\"><span style=\"font-weight: 400;\">labeled<\/span><\/a><span style=\"font-weight: 400;\"> the actions of the authorities as being \u201ctricky.\u201d Some have also stated that the new ban was because the Asian country was working on its \u201cdigital yuan\u201d project.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is no longer news that China has declared all crypto-related trading illegal within its jurisdiction. However, Binance, the largest crypto exchange in the world by trading volume, has come out to say that the firm has had no business in the Asian country for a while now. Binance has no business in China According [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":199956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60793,11],"tags":[76807,77001],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;Binance has no business in China,&#039; notes Changpeng Zhao amidst crypto crackdown<\/title>\n<meta name=\"description\" content=\"Binance has revealed that it stopped its operations in China since 2017 when the Asian country had first banned crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/binance-has-no-business-in-china-notes-changpeng-zhao-amidst-crypto-crackdown\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;Binance has no business in China,&#039; notes Changpeng Zhao amidst crypto crackdown\" \/>\n<meta property=\"og:description\" content=\"Binance has revealed that it stopped its operations in China since 2017 when the Asian country had first banned crypto.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/binance-has-no-business-in-china-notes-changpeng-zhao-amidst-crypto-crackdown\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-27T13:00:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-28T06:29:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/09\/china-binance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/binance-has-no-business-in-china-notes-changpeng-zhao-amidst-crypto-crackdown\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/binance-has-no-business-in-china-notes-changpeng-zhao-amidst-crypto-crackdown\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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