Chinese Users of Binance Holes in Beijing’s Crypto Ban

Chinese Users of Binance and FTX Exchanges Show Holes in Beijing’s Crypto Ban

[{"selector":"#anim-0e2e6c8e-52c1-4e06-be71-1997d489f73f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-53.11975241814335%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Nearly two years after China implemented a ban on cryptocurrencies, recent indications suggest that its citizens

[{"selector":"#anim-d4346c69-92a2-498a-8264-a6b42138c932 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] These observations shed light on the challenges of predicting the future of the digital asset market,

[{"selector":"#anim-a8a186c4-00ed-4295-b297-3ff4d9431806 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-24.611913883893738%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The evidence supporting ongoing Chinese interest in cryptocurrencies comes from various sources, including FTX’s creditor profile

[{"selector":"#anim-77267bd9-fd5a-477b-a892-091b7e51b994 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] This speculation arose in the wake of Hong Kong’s pro-crypto stance, which was introduced to attract investments

[{"selector":"#anim-57879958-37f3-4772-8109-8b3c99f28755 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.01615194683153%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The Chinese government has indeed taken steps to restrict cryptocurrency trading and mining since 2017

[{"selector":"#anim-f8985ff4-789d-4143-b581-d495eb8cc70f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] China’s economic growth has indeed experienced a slowdown in recent years, and this has led to a decrease in the attractiveness of traditional investment

[{"selector":"#anim-656ea35a-8af9-4580-b8a9-398f89a2b01b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(6.074427845932085%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Given China’s significant influence in the crypto industry, any policy shifts will undoubtedly have far-reaching consequences.

[{"selector":"#anim-dad0fded-14c2-472e-a0ff-ee22cda8ea46 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Learn more