{"id":201326,"date":"2021-10-13T07:01:48","date_gmt":"2021-10-13T06:01:48","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=201326"},"modified":"2021-10-13T07:23:46","modified_gmt":"2021-10-13T06:23:46","slug":"bitcoin-drops-1100-in-minutes-after-binance-delists-cny-pairings","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-drops-1100-in-minutes-after-binance-delists-cny-pairings\/","title":{"rendered":"Bitcoin drops $1,100 in minutes after Binance culls Chinese OTC deals"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Bitcoin dropped $1,000 this morning, from $56,300 to under $55,000, after crypto exchange Binance announced it would drop its Chinese Yen trade pairings for Mainland customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIn response to the regulatory requirements of the local government, Binance C2C will delist the CNY trading zone at 24:00 (East Eighth District Time) on December 31, 2021,\u201d said Binance in a post.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The exchange added that it withdrew from the Chinese mainland market in 2017 and does not currently engage in exchange business in mainland China.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Breaking: Binance announced that it will delist the CNY trading zone and stop providing services to users in mainland China. <a href=\"https:\/\/t.co\/2wrFsZcWpp\">https:\/\/t.co\/2wrFsZcWpp<\/a><\/p>\n<p>&mdash; Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1448161584484737026?ref_src=twsrc%5Etfw\">October 13, 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;\">Chinese authorities have led a major crackdown on crypto since early this year. The country has long-shunned cryptocurrency usage and investments among citizens but started to drive out miners in mid-2021.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The stricter change in tone has caused several crypto exchanges, businesses, and products to cut back on China operations and retreat from the country. These include FTX, which shifted its base from Hong Kong to the Bahamas last month.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin dropped $1,000 this morning, from $56,300 to under $55,000, after crypto exchange Binance announced it would drop its Chinese Yen trade pairings for Mainland customers. \u201cIn response to the regulatory requirements of the local government, Binance C2C will delist the CNY trading zone at 24:00 (East Eighth District Time) on December 31, 2021,\u201d said [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":201332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60793,11,6849],"tags":[60786],"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>Bitcoin drops $1,100 in minutes after Binance culls Chinese OTC 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