Binance has reached the mainstream level after its ban in China in 2017, but now it seems, the exchange is planning to get back in its mainland and open a new office in Beijing. This news is followed by the recent speech made by president Xi that threw a light on the blockchain development across China and gave a little bit hope that the cryptocurrencies would be again legalize in the country. After hearing this news, a few traders talked about the rumors and are skeptical about it by suggesting that legalization of Cryptocurrency would be unlikely for the nation that is known for keeping a tight rein on its money supply.
Binance was introduced in China
The exchange was discovered in Shanghai and later on stopped its services in china in 2017 because of the ban of Cryptocurrency by the Chinese government in the nation. After this, the exchange then migrated its office to Hong Kong and Japan prior to finding headquarters in Malta. The rumors have it that the first office in Shanghai is still in operation and as per the sources that had word with CoinDesk, the exchange is planning to introduce a new office in Beijing. Call on Binance phone number.
Though the spokesperson of the exchange neither accepted nor denied all these rumors, giving no information what kind of new office is going to built and what kind of operations would be taking place in the new office. But, as per the political views in China, this step would help the exchange to work with Chinese regulators.
Binance’s new Venus stablecoin project
The exchange introduced its new Venus stablecoin project, in August which was co-founded by Yi He and he referred the project as a Cryptocurrency version of the Chinese belt and Road Initiative that aims to connect China with areas of Asia, Africa, and Europe.
After the announcement, Yi He talked to Bloomberg and said that the exchange would play a supporting role to the Chinese government by suggesting Cryptocurrency advice that would support them to have relation with other countries across the world adopting digital currencies and introducing new strict measures to supervise the industry: This the value of the exchange and to help them monitor the crypto industry and ensure stable sustainable development. Also, a few recommendations made by the exchange to the Chinese government at the Venus project announcement are already in action.
Lifting the ban?
In the October month, the exchange announced a peer-to-peer trading service in China that allows traders to transact BTC, ETH, and USDT among themselves through the payment apps like Alipay and WeChat Pay. This news outcome to a public Twitter showdown with Alipay that tweeted: if any transaction is found related to bitcoin or any other virtual currencies, Alipay would definitely stop the relevant payment services. After this incident, the CEO of exchange showed his interest in brining bitcoin trading back to China. For availing more information about Binance, users can contact the team via calling on Binance helpline number which is functional all the time for assistance. The team is always at your service.