Binance, a Chinese Cryptocurrency Exchange, has reaffirmed their commitment to continue operations within the international market whilst jettisoning their domestic services for Chinese citizens.
This comes on the heels of BTCC and ViaBTC, cryptoexchanges based in China, announcing the shuttering of operations by the end of September this year.
Hints from Binance
Rumors of the possible closing began on or about September 8, 2017. Industry insiders such as Bobby Lee, the CEO of BTCC, tweeted about the possible closures.
However, on the earlier date of September 6, 2017, Binance announced the prohibition of trading for all Chinese citizen on their exchange pursuant to a notice from the PBoC (People’s Bank of China) the financial regulatory agency of the People’s Republic of China.
In this same announcement the Binance Team hinted to things to come. They are quoted saying that, “Binance will refocus and redouble our efforts in servicing our international audience, which currently accounts for 82.5% of our user base (according to Alexa).” This would suggest that Binance was aware of the regulations to come.