Binance has no business in China,' notes Changpeng Zhao amidst crypto crackdown

[RSRS]

It is no longer news that China has declared all crypto-related trading illegal within its jurisdiction. However, Binance, the largest crypto exchange in the world by trading volume, has come out to say that the firm has had no business in the Asian country for a while now.

Binance has no business in China
According to a press statement obtained by a local Chinese media house, it was revealed that the CZ-led exchange had stopped dealing with the country since 2017.

“Since 2017, Chinese users have been unable to access the Currency Security website, and there is currently no exchange business in China,” the statement reads in part.

Binance responded to the Chinese media: We have not allowed Chinese people to use it since 2017, and we have no exchange business in China. https://t.co/R62hARGqxy

— Wu Blockchain (@WuBlockchain) September 26, 2021

The exchange continued that it had chosen to discontinue its operation in China because of the “importance” it attaches to complying with local regulations.

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