Worse and Worse for Binance: China Blocks All User Access! | My booklet

Users started having problems connecting to the platform on Thursday and are now unable to do so without using VPN services.

China has placed Binance, the world’s largest cryptocurrency exchange, on its blacklist of websites that cannot be accessed from within the country. The blocking of the crypto-currency exchange has been confirmed by the portal, which lists all the banned sites to which the Chinese “Great Firewall” cuts off access.

Binance users learned of the block on Thursday and had to use a VPN to access the platform. Meanwhile, Binance rivals Huobi and OKEx were still available in the Asian country, but it is highly likely that they are no longer accessible from mainland China.

Binance is also struggling to operate in the UK, where it has abandoned its efforts to gain approval from the UK financial regulator which oversees compliance with anti-money laundering and anti-terrorist financing laws.

In May, China banned financial institutions and payment companies from providing services related to cryptocurrency transactions, while warning investors against speculative trading in digital currencies.

Under the new rules, the Asian giant’s entities must not provide savings, trust or collateral services for “tokens”, nor issue financial products linked to them. At the same time, although initial cryptocurrency exchanges and offers have been banned, Beijing has not restricted the ability for individuals to own them.

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