News Snapshot:
Binance, the world’s largest cryptocurrency exchange, announced on Wednesday that it will end customer-to-customer (C2C) Chinese yuan (CNY) trading before the end of this year. Binance’s latest action is considered a backlash in response to China’s latest crypto ban. Although Binance pulled out of the mainland China market in 2017, it still allows users to freely trade Bitcoin, Ethereum, and Tether for RMB peer to peer. According to the official statement, Binance will conduct a verification of platform users and will only allow mainland Chinese users to withdraw, withdraw, redeem and close positions and switch to “cash withdrawal only” mode....
