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Chinese Residents Report Problems Accessing Binance

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Problems Accessing Binance

Chinese Residents Report Problems Accessing Binance

Problems accessing Binance reported by Chinese residents. From July 8, users from the PRC can only use the platform to trade cryptocurrency using a VPN.

Residents of China have encountered difficulties using the Binance cryptocurrency exchange, according to journalist Colin Wu. According to him, the PRC authorities have blocked the trading platform, so access to it can only be obtained using a VPN. The fact of blocking is confirmed by a check on the chinafirewalltest.com service. Wu noted that Chinese users still have access to Binance’s rivals Huobi and OKEx.

In early June, Chinese search engines, including the largest of them – Baidu and Sogou, blocked the issuance of links to the sites of three cryptocurrency exchanges: Binance, Huobi, and OKEx.

In May, Vice Premier of the State Council of the People’s Republic of China Liu He called for stricter regulation of mining and crypto trading in the country. After that, bans on the mining of cryptocurrency were introduced in four provinces of the PRC. As a result, more than 70% of Chinese miners have stopped their activities.

Binance is also facing complaints from regulators around the world. Several UK banks have banned payments through the trading platform this week. At the end of June, the FCA announced that the largest crypto exchange in terms of trading volume, Binance, cannot operate in the country. The regulator claims that the service provider of Binance.com is Binance Markets Limited, part of the Binance Group, which is not licensed to operate in the UK.

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