China: trading platforms executives not to leave country

The executives of Chinese Bitcoin trading platforms may not leave the country
20 September 2017   983

It’s been quite a tough time for the cryptocurrency community due to the whole China-against-Bitcoin thing, as a result of which the top cryptocurrency price has fallen. On top of that, according to undisclosed sources, the Chinese government has officially decided to crack down on all Bitcoin and cryptocurrency trading, not just commercial exchanges. 

However, this is not the end of the restrictions.

Now, Beijing News reports that executives of Chinese Bitcoin trading platforms may not leave the country, per industry insiders. During this period of uncertainty, the executives must fully cooperate with Chinese authorities.

A number of insiders said that current executives, owners, shareholders, and managers of bitcoin trading platforms are not allowed to leave Beijing. In accordance with regulatory requirements, shareholders, owners, and financial executives must fully cooperate with the ongoing investigation during the closure process in Beijing.
 

Beijing News

Although the alleged prohibition singles out “Bitcoin executives,” the injunction would likely apply to people in management positions at virtual currency trading platforms more broadly.

Bitcoin charts on coinmarketcap.comBitcoin charts on coinmarketcap.com

Meanwhile, at the time of writing, Bitcoin cryptocurrency price is slightly above $4,000 and its market capitalization $66,711,282,963. 

Binance to Launch Crypto-Fiat Exchange at Jersey

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs
16 January 2019   72

Binance has opened a branch at Jersey island, targeting Europe and the UK. Its clients will be able to trade Bitcoin and Ethereum for the euro and the British pound. 

The new exchange will feature BTC / GBP, ETH / GBP, BTC / EUR and ETH / EUR trading pairs. To start trading, users must undergo KYC verification.

According to Binance CFO Ju Wei, bidding cryptocurrencies for fiat money will provide Europeans with new opportunities in the face of uncertainty with Brexit affecting the euro and the pound.

Wei also stressed that a strong legal framework makes Jersey one of the leaders in the development of blockchain technology.