Per a recent tweet by Binance, a trader in China can now trade Binance coin via the Binance app.
Will Binance Enable BNB Trading in India?
The app will provide for ease of trading for Chinese crypto holders and also promote BNB adoption.
The announcement garnered interesting responses from crypto twitter. The comments further led to speculations if Binance’s next step will be enabling P2P trading in India.
The announcement further caught Mia Tam’s, a leading blockchain researcher’s attention, who in turn questioned that will Binance enable BNB P2P Trading for the whole world via the Binance app?
Changing Blockchain & Crypto Scenario in China
While the Chinese President expressed his interest in exploring blockchain, Arthur Hayes, head of the BitMEX crypto exchange believes that China may flip its stance like it did in 2017. The ban does not allow Bitcoin trading and the launch of any ICOs. However, citizens can store Bitcoin and also protect their ownership in court.
Interestingly, the global crypto community is all praise for Xi Jinping. The reason for the same being his latest speech in which he spoke about the importance and rising value of blockchain technology. He further mentioned that the rise of blockchain in China will, in turn, help China gain more power in setting standards and rules internationally.
In another major development, China’s National People Congress passed the “crypto law”. The law will be in effect on January 2020. The newly passed law aims at standardizing the application and management of passwords. Furthermore, it will help in promoting the development of the password business and ensure network and information security.
Will China ultimately uplift its crypto ban? Let us know, what you think in the comments below!
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.