Report: China's Cryptocurrency Ban Sees Successful Results ...

Sorry folks, I honestly believe Monero on Binance is a non-starter, and they'll never re-enable it. Details inside.

Monero is essentially the only truly private and anonymous cryptocurrency when used properly [that you can trust is actually private].
Binance is a Chinese company and China has ridiculously strict fiscal controls on its citizens & businesses (you can't move money out of the country without government approval, for example). A few months ago they cracked down on the crypto exchanges and people were speculating they were banning bitcoin. They didn't ban it, but they wanted to make sure the exchanges were following Chinese law. Bitcoin is allowed because they can track it and observe it. They can also control it to an extent given that the majority of the mining hashrate rests behind China's great firewall. Monero, on the other hand, allows them to circumvent all of China's fiscal regulations and controls, and do so anonymously. It would allow anyone, from Chinese peasant farmers to their billion dollar businessmen to do whatever they wanted with their money without government approval or oversight. This is a huge no-no. China isn't having any of that nonsense.
Hence, the real reason why Monero and Binance are having problems. I will no longer use this exchange because I don't want to support that kind of business (or politics, oppression, whatever the Chinese communist party are in the mood for that day). People seem to forget... While China has become slightly more capitalistic these past 20 years, it's still one of the most authoritarian governments on the planet.
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China – Late last year as Bitcoin ran up to all-time highs, China’s government imposed a controversial ban on cryptocurrencies. This move caught many off-guard, as China has historically been a country of cryptocurrency development and interest.. Recent data from the People’s Bank of China (PBC) indicate that the unwelcome crackdown was met with widespread success, with the PBC noting ... China will reportedly block access to foreign websites offering cryptocurrency trading services or initial coin offerings. China stretches ‘Great Firewall’ to foreign crypto exchanges still catering to locals. Business 1 March 2018 . Cecille de Jesus . China is stretching its crackdown on (external) cryptocurrencies as their home-grown cryptocurrency buds. China’s brutal crackdown on cryptocurrency activity throughout the past year has been bloody, with several local exchanges and miners shutting down. This ... China’s Great Firewall blocks one of the most popular Ethereum blockchain websites By Giorgi Mikhelidze - 4 Dec 2019 With no exact explanation, the website, one of the most popular and widely-used Ethereum explorers, was banned from the China mainland as of Tuesday, December 2nd. Bitcoin’s power to infiltrate Chinese markets, despite several bans instilled against it, is perhaps what motivated the Chinese government to implement a new ban which will effectively block all China-based users from accessing any online cryptocurrency platform. China’s severe online policies, known as The Great Firewall of China, has previously blocked its citizens from accessing social ... This significantly impacts Bitcoin block propagation. It takes on average 3.9 seconds for blocks on the same side of the Great Firewall of China to propagate between nodes but 17.4 seconds for blocks to propagate between nodes on different sides, a 450% slowdown. This puts Chinese miners at a disadvantage since miners outside of the Great ... It’s well known that the so-called Great Firewall of China has been heavily blocking foreign websites such as Google, Twitter, Facebook etc. Also blocked are websites related to pornography, gambling etc. However, the blocking of cryptocurrency related websites is something new. Cryptocurrencies, especially Bitcoin, used to be very popular in China. Back a couple of years ago, the majority ... “illegal and disruptive to [China’s] economic and financial stability.” While companies have tried to skirt the ban, Chinese authorities have been quick to shut them down. In 2019, the government added some of the largest cryptocurrency-related websites to its nationwide internet blacklist, popularly labeled the ‘Great Firewall of China’. China has its great “firewall”, and it looks like Thailand wants to restrict Internet access in the entire country as well. The political groundwork for Thailand’s Great Firewall has been ... So China does not want to use Bitcoin or Ethereum or other coins. That much is clear. Binance has no offices in China. Zhao reaffirmed that Binance has no offices in China. Since the September 2017 ban on cryptocurrency exchanges in China, after which Binance left the country in October 2017, Binance does not maintain a single office at all ...

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