News Formal

China is Binance's biggest market despite crypto trading ban: report

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Nigeria News News

China is Binance's biggest market despite its ban on cryptocurrency trading, report says

Regulatory pressure became so intense that the embattled firm even considered shutting down its American operations entirely,However, Binance's prospects appear rosier in China – even though cryptocurrencies are illegal there.

Yet this doesn't appear to have deterred traders from using Binance through VPNs and foreign residency cards,According to documents obtained by the Journal, Chinese users traded crypto assets worth $90 billion in May this year, making it Binance's largest market by far.

 

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

 /  🏆 729. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria 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 »

Binance's Largest Market is China: WSJDespite the crypto ban in China, the country is Binance's largest market, according to a WSJ report. thesamreynolds writes.
Source: CoinDesk - 🏆 291. / 63 Read more »