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China Begins Secret Cryptocurrency Exchange Legalization

Legal

newslogical.com 03 November 2019 04:00, UTC
  
Reading time: ~2 m

China has secretly started the legalization of cryptocurrency exchange, a Chinese Twitter commentator has said. Crypto Even, a Chinese decent, shared a website link inaccessible to people aside those within Chinese enclave.

The link allegedly shows “a real photo of a “cryptocurrency trading license of the People’s Republic of China”.

The website, Tianyancha, where the image was said to be sourced from, is a large data technology company having a vast repository of Chinese enterprise information, Crypto Even has said. However, the site does not permit foreign access.

BREAKING LEAKED NEWS! *Cryptocurrency exchange legalization* has started in China. This is a real photo of a "cryptocurrency trading license of the People's Republic of China". #cryptocurrency #bitcoin #eth #Crypto

What will the market respond in the coming month?
😃 pic.twitter.com/aM78kVJrbI

— Crypto Even (@Crypto_Even) November 1, 2019

Binance Allegedly Returning to China

Few days back, rumors were rife that Binance is planning to open an office in Beijing. The cryptocurrency exchange left China in 2017 after the country’s regulatory authority banned cryptocurrency trading. Binance now has its headquarter in Malta, a cryptocurrency-friendly island in Europe.

Till today, China has not publicly opened up on whether cryptocurrency trading is now legal, but the country is tilting towards adopting blockchain technology while also preparing to launch a Central Bank cryptocurrency it branded “DCEP” to reduce the hardship faced while transferring funds across the globe.

China says it is fighting the United States hegemony with the launch of DCEP and putting forward a huge amount to increase blockchain adoption in the country.


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