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The world’s largest cryptocurrency exchange said it would stop allowing trading involving the Chinese currency on its consumer-to-consumer platform, weeks after China made its strongest move yet against the use of digital assets.
Binance, which was founded in 2017 and initially based in China, said Wednesday that it would remove the option to buy or sell cryptocurrencies using the yuan in peer-to-peer trading after this year. From that point, any users found to be based in mainland China would be allowed only to withdraw or close their positions, the exchange added.
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