Binance, the largest centralized cryptocurrency exchange platform by global trading volume, has suspended user registration and use in Communist China due to the Chinese government’s tightening ban on cryptocurrencies.
Recently, there have been reports of Binance volunteers called Binance angels, teaching users from Communist China how to circumvent Binance’s KYC process and registration restrictions using simple methods such as using overseas email and listing a Taiwanese residential address.
In response, Binance issued a statement claiming that it is tightening its controls and that its employees are strictly prohibited from suggesting or assisting users in circumventing local laws and regulations. Any employees found doing so will be immediately terminated or investigated.
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