As I was reviewing the Binance website for news of the newest crypto additions on the Chinese exchange Binance, this news struck me like a bomb shell. Binance is taking the ICO regulation from the Chinese government one step further and disables trading all together for people with Chinese IP addresses.
See for yourself, this was post just now:
In my view this is massive news and cannot mean anything good for the crypto market. Especially if other Chinese exchanges would follow suit.
But surely it doesn't need to come to that, does it? Is this a preamble of what is to come or is this just an overreaction from the relatively new exchange.
I guess it is the latter as i don't think the Chinese government wants to keep all Chinese from investing at all in cryptos. Surely the goal was to limit the bad practices in the wild west of ICOs?
Would love to read your comments below.
Stay tuned!
References:
https://binance.zendesk.com/hc/en-us/articles/115001444731-Binance-Update-2017-09-06
Images:
https://renrenico.com/ico/9
https://binance.zendesk.com/hc/en-us/articles/115001444731-Binance-Update-2017-09-06