Since 2017, the Chinese government's regulatory policies on cryptocurrencies have undergone multiple changes. In 2017, the Chinese government issued strict regulatory measures against ICOs (Initial Coin Offerings) and virtual currency exchanges, requiring major trading platforms to cease cryptocurrency trading services. Nevertheless, platforms like Binance did not completely exit the Chinese market but instead shifted their operational focus to other countries and regions, such as Malta and Hong Kong. Therefore, domestic users can only access Binance's latest non-VPN website navigation href.host/ba.
Binance's latest non-VPN website navigation: https://href.host/ba (frequently updated)
Major exchange navigation: OKX, Binance, HTX, Gate
The Chinese government's regulatory policies mainly focus on two aspects:
Prohibition of ICOs and virtual currency trading: The Chinese government prohibits fundraising through ICOs and requires virtual currency exchanges to cease operations in mainland China. However, Binance, as an international trading platform, announced as early as 2017 that it would relocate its business overseas and continue to provide services globally.
Prohibition of financial institutions from providing cryptocurrency-related services: The People's Bank of China and other financial regulatory agencies have issued relevant bans on virtual currencies, requiring financial institutions to stop providing payment, settlement, clearing, and other services for cryptocurrency-related businesses. This move is primarily aimed at preventing financial risks associated with virtual currencies.
Despite this, as Binance operates on a global scale, its users are not entirely subject to the direct constraints of mainland Chinese laws, allowing it to continue serving Chinese users worldwide, especially in providing digital currency trading and other related services.