{"id":51107,"date":"2021-10-13T10:30:42","date_gmt":"2021-10-13T07:30:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51107"},"modified":"2025-09-02T21:54:32","modified_gmt":"2025-09-02T18:54:32","slug":"binance-to-close-otc-trading-access-for-mainland-china-users","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-to-close-otc-trading-access-for-mainland-china-users\/","title":{"rendered":"Binance to close OTC trading access for mainland China users"},"content":{"rendered":"<p>From 31 December 2021, the cryptocurrency exchange Binance <a href=\"https:\/\/www.binance.com\/zh-CN\/support\/announcement\/d9ac62b1987e4fe7aa15b71a5cd37022\">will remove<\/a> the Chinese yuan from the OTC market list and will close access to OTC trading for users in mainland China.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;If the platform detects users from mainland China, Binance will restrict such accounts. Users will only be able to withdraw assets, cancel orders and buy back or close positions,&#8221; the press release says.<\/p>\n<\/blockquote>\n<p>In the wake of the announcement, Binance Coin (BNB) traded down about 7%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-10-13-v-10.05.07-1-1024x640.png\" alt=\"Binance will close OTC trading access for mainland China users\" class=\"wp-image-152664\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-10-13-v-10.05.07-1-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-10-13-v-10.05.07-1-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-10-13-v-10.05.07-1-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-10-13-v-10.05.07-1-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-10-13-v-10.05.07-1-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Chart of BNB\/USDT on the Binance exchange. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BNBUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Earlier Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-and-huobi-halt-new-user-registrations-in-mainland-china\">stopped<\/a> registering new users from China. Joining were the bitcoin exchanges Huobi, <a href=\"https:\/\/u1f987.com\/en\/news\/kucoin-bars-registration-for-chinese-users\">KuCoin<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/three-crypto-platforms-impose-restrictions-on-chinese-users\">BitMart and Biki<\/a>. The decisions were taken against the backdrop of <a href=\"https:\/\/u1f987.com\/en\/news\/media-china-weighs-avenues-for-prosecuting-crypto-trading-and-mining\">new crackdowns by China against the crypto industry<\/a>.<\/p>\n<p>According to Bloomberg, Huobi <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-huobi-to-exit-china-ahead-of-wave-of-crackdowns\">decided to leave China<\/a> before Beijing tightened regulation of digital assets again. The company also ruled out any further operation in the country.<\/p>\n<p>Media reports say that in China <a href=\"https:\/\/u1f987.com\/en\/news\/media-china-weighs-avenues-for-prosecuting-crypto-trading-and-mining\">authorities are examining the possibilities of prosecuting<\/a> crypto trading and mining.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From 31 December 2021, the cryptocurrency exchange Binance will remove the Chinese yuan from the OTC list and close OTC trading access for users in mainland China.<\/p>\n","protected":false},"author":1,"featured_media":51108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,133,830],"class_list":["post-51107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-china","tag-otc"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51107"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51107\/revisions"}],"predecessor-version":[{"id":51109,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51107\/revisions\/51109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51108"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}