The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Blockchain

Binance To Terminate Chinese Yuan Transactions after China’s Strong Encryption Ban

by Miki 10/13/2021
by Miki 10/13/2021 0 comment

Binance, the world’s largest cryptocurrency exchange, announced Wednesday that it will terminate Customer to Customer (C2C) Chinese Yuan (CNY) trading before the end of this year.  

The latest action from Binance is considered a backlash in response to China’s latest crypto ban. Although Binance has withdrawn from the Chinese mainland market in 2017, it still allows users to exchange Bitcoin, Ethereum freely, and Tether for RMB peer to peer.

According to the official statement, Binance will conduct a check on platform users and only allow mainland Chinese users to withdraw, withdraw, redeem, and close positions and switch to the “only cash withdrawal” mode.

After the People’s Bank of China (PBoC) recently announced and declared that all cryptocurrency transactions in the country are illegal, another digital currency trading platform Huobi Global has announced it will gradually unwind its services in mainland China as the PBoC and other state regulators seek to intensify their clampdown on all activities bordering digital currencies in the country.

The ban issued by the Central Bank of China lately also specifically pointed out that all overseas exchanges must not provide services to domestic investors and severely punish illegal financing activities related to cryptocurrencies.

The market believes the decree issued this time basically eliminates the hope that exchanges and other platforms can stay in China.

Other companies involved in cryptocurrency mining have also withdrawn from the Chinese market. Blockchain.News reported on October 10, a multinational semiconductor company Bitmain Technology Holding will stop shipping BitBitmain’stminer to mainland China in order to comply with a series of local bans on strict crackdowns on cryptocurrencies.

Image source: Shutterstock

Source link

Views: 4
BanBinanceChinasChineseEncryptionstrongTerminateTransactionsYuan
Share
0
FacebookTwitterPinterestEmail
previous post
NFT Platform Sorare under UK Gambling Commission’s Investigation
next post
How 90-Year Old Market Wizardry Predicted The Bitcoin Breakout

Related Posts

Iran Bans Crypto Mining to Avert Major Blackouts...

12/29/2021

Italian Sports Car Maker Ferrari Inks Multi-Year Deal...

12/29/2021

ProShares Files for New Metaverse ETF With U.S....

12/28/2021

Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute...

12/28/2021

Binance Trading Platform Licenses in Bahrain, Canada

12/28/2021

Tokenized Bitcoin in Circulation Nears a Half Million...

12/28/2021

Ethereum 2.0 Full Upgrade Will Prompt a 1%...

12/28/2021

Iranian Crypto Miners get Cut Off as Country...

12/28/2021

Kraken Develops NFT Trading Platform, Offering Token-Backed Loans

12/27/2021

Crypto Review 2021 | Blockchain News

12/27/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Weekend Volatility Awakens Bitcoin Buyers, Active Addresses

  • Tesla Records $51 Million Impairment Loss on its Bitcoin Holdings in Q3

  • Elon Musk Wants to Be Fake Dogecoin CEO

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,203.00-3.40%
  • ethereumEthereum(ETH)$1,963.83-2.46%
  • tetherTether(USDT)$1.000.12%
  • usd-coinUSD Coin(USDC)$1.000.09%
  • binancecoinBNB(BNB)$302.72-0.82%
  • rippleXRP(XRP)$0.411430-1.91%
  • Binance USDBinance USD(BUSD)$1.000.15%
  • cardanoCardano(ADA)$0.52-2.74%
  • SolanaSolana(SOL)$50.21-3.57%
  • dogecoinDogecoin(DOGE)$0.084510-2.31%
  • polkadotPolkadot(DOT)$9.71-3.44%
  • Lido Staked EtherLido Staked Ether(STETH)$1,933.64-2.20%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,219.00-3.36%
  • AvalancheAvalanche(AVAX)$29.02-2.63%
  • tronTRON(TRX)$0.071070-3.58%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.89%
  • daiDai(DAI)$1.00-0.02%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$68.63-3.48%
  • CronosCronos(CRO)$0.187235-4.04%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$5.000.64%
  • matic-networkPolygon(MATIC)$0.63-2.22%
  • HederaHedera(HBAR)$0.389473-3.44%
  • FTX TokenFTX Token(FTT)$29.76-3.40%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.81-3.83%
  • bitcoin-cashBitcoin Cash(BCH)$192.34-1.24%
  • RareRare(RARE)$0.0461220.00%
  • cosmosCosmos Hub(ATOM)$11.194.41%