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?
— 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.
CEO of Binance, CZ, reacting to the news, said:
“Let’s put this to bed. This, even if real, is NOT an exchange license. It’s a simple business registration paper. Every company in China has one. “Trading services” means many things. No need to get overly excited. It’s not negative either. Just a misleading post. Welcome to CT.”
Let's put this to bed. This, even if real, is NOT an exchange license. It's a simple business registration paper. Every company in China has one. "Trading services" means many things. No need to get overly excited. It's not negative either. Just a misleading post. Welcome to CT. pic.twitter.com/2qgJ53cnzo
— CZ Binance (@cz_binance) November 2, 2019