What is legal and illegal in a totalitarian dictatorship run by a Communist Party? 😊
Are some Chinese citizens outsmarting the police state? A sort of digital revolution for freedom! The company was founded by a Chinese-born Canadian businessman. "Binance was initially based in China, then moved its headquarters out of China shortly before the Chinese government imposed regulations on cryptocurrency trading." Is this a "Proclaim Liberty Throughout All the Land Unto All the Inhabitants thereof." moment?
"Binance, the world’s largest crypto exchange, was supposed to leave China behind when the country made cryptocurrency trading illegal in 2021."
"The transactions made China by far the biggest market for the world’s largest crypto exchange, accounting for 20% of volume worldwide, excluding very large traders’ trades, according to internal figures WSJ viewed and current and former employees. Binance, which faces a global regulatory crackdown, helped China users circumvent restrictions, according to an internal document the WSJ viewed. China’s central bank said Binance’s website is blocked. After the restriction was instituted in 2021, the company said it “has always strictly complied with the relevant requirements of local regulatory agencies"
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