The transactions made China Binance’s biggest market by far, accounting for 20% of volume worldwide, excluding trades made by a subset of very large traders, the WSJ said.
Binance’s origins lie in China, though the world’s largest crypto exchange withdrew from mainland China in 2017 during a regulatory crackdown. It did not immediately respond to a Reuters request for a comment on the Journal report. “The Binance.com website is blocked in China and is not accessible to China-based users,” a company spokesman told the WSJ. The exchange has also been under the scrutiny of US regulators like the Commodity Futures Trading Commission and the Securities and Exchange Commission.
— Reuters