Binance will remove C2C CNY trading area and investigate users in mainland China

On October 13, Binance officially released an announcement "Notice on the Delisting of C2C CNY Trading Area and User Investigation in Mainland China". The announcement stated that in response to local government regulatory policy requirements, Binance C2C will delist the CNY trading area at 24:00 on December 31, 2021 (Eastern Time Zone 8).

At the same time, Binance will conduct a review of platform users. If the platform finds users in mainland China, their corresponding accounts will be switched to "withdrawal only" mode, and users will only be able to withdraw, cancel orders, redeem, and close positions. Binance will notify the corresponding users by email 7 days before the account switch.

In addition, Binance stated that it withdrew from the Chinese mainland market in 2017 and no longer engages in exchange business in mainland China. Binance has always attached great importance to compliance obligations and has always strictly complied with the relevant requirements of local regulators.