As I was reviewing the Binance website for news of the newest crypto additions on the Chinese exchange Binance, this news struck me like a bomb shell. Binance is taking the ICO regulation from the Chinese government one step further and disables trading all together for people with Chinese IP addresses.
See for yourself, this was post just now:
In my view this is massive news and cannot mean anything good for the crypto market. Especially if other Chinese exchanges would follow suit.
But surely it doesn't need to come to that, does it? Is this a preamble of what is to come or is this just an overreaction from the relatively new exchange.
I guess it is the latter as i don't think the Chinese government wants to keep all Chinese from investing at all in cryptos. Surely the goal was to limit the bad practices in the wild west of ICOs?
Would love to read your comments below.
Stay tuned!
References:
https://binance.zendesk.com/hc/en-us/articles/115001444731-Binance-Update-2017-09-06
Images:
https://renrenico.com/ico/9
https://binance.zendesk.com/hc/en-us/articles/115001444731-Binance-Update-2017-09-06
That's insane, surely this is not the intention of the Chinese authorities? Please keep us updated on this one!
Absolutely, will do!
Must be they were forced to do this... by who or what will come clear sooner or later
yeah what other reason would there be to deprive yourself of millions of trade fees...
My point exactly
China was one of the reasons that Binance grew this large, most people used to see it as a great way to get chinese money into their coins.
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Interesting... thanks for sharing. :)
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