News Formal

Binance's Largest Market is China: WSJ

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Despite the crypto ban in China, the country is Binance's largest market, according to a WSJ report. thesamreynolds writes.

The Journal reports that despite the ban on crypto within China, teams from Binance regularly collaborate with Chinese law enforcement to detect potential criminal activity. It also has 900,000 active users in-country, according to the Journal.Data from the Journal shows that China is a $80.6 billion futures market and a $9.4 billion spot market for Binance. South Korea provides $56.9 billion in futures volume and $1.39 billion in spot volume.

Typically traders based in China use a combination of a Virtual Private Network and a digital residency program such as

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China still Binance's biggest market with $90 billion in volume despite crypto ban: WSJChina is still Binance's biggest market despite the country's crypto ban, with the exchange having over $90 billion in volume in May, the WSJ reported citing internal documents.
Source: TheBlock__ - 🏆 464. / 53 Read more »