Cryptocurrency

Hot Development: Big Bitcoin Exchange Binance Banned From China!

The giant Bitcoin exchange Binance is on the agenda with bans from China. Binance has joined the list of blocked websites behind the country’s “great firewall”.

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The giant Bitcoin exchange is on the agenda with bans from China!

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On July 8, many Binance users learned that the website was banned in China. According to cryptocurrency blogger Colin Wu, the exchange’s portable application is also inaccessible due to the blocking of backend API invitations. The country’s “great firewall” now prevents users from accessing the cryptocurrency exchange, meaning the exchange can only be visited with the help of a virtual private network (VPN) service.

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https://twitter. com/WuBlockchain/status/1413140505311932417

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But in particular, Binance’s competitors such as Huobi and OKEx are still present in China. Cryptocoin. com

As we previously reported , keyword searches for Binance and other well-known cryptocurrency exchanges were blacklisted by Chinese internet services in early June. The Binance ban comes as part of China’s massive crypto crackdown, which includes eliminating the country’s entire Bitcoin mining industry last month.

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Binance also faces significant regulatory scrutiny around the world

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The world’s largest exchange was originally based in China, but later had to move abroad due to the 2017 crypto ban. Binance is also facing significant regulatory scrutiny around the world. Multiple UK banks blocked payments to the trading platform earlier this week. It remains unclear how long this situation will last.

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Bitcoin, the leading cryptocurrency, is trading at $33,000 with minor decreases at the time of writing. The ruler of cryptocurrencies currently has a market cap of $619 billion. Bitcoin manages a last 24-hour trading volume of $28.4 billion at the time of writing. Bitcoin (BTC) price and detailed market data here

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