Binance to halt Chinese yuan crypto OTCs and restrict China user access


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advertisement Binance has said it will halt the marketplace for the Chinese yuan over-the-counter (OTC) trading on its platform following China’s latest crypto trading crackdown. Binance, one of the major crypto exchanges that have a significant number of China-based customers, said in a Chinese statement on Wednesday that it will delist the Chinese yuan OTC marketplace after December 31. Further, the exchange said it will restrict the access for mainland China customers but does not indicate if it will retire all China-based accounts. “If the platform finds out mainland China users, Binance will restrict such accounts to the withdrawal-only mode....