1. Yes. Coin Security has halted yuan trading and restricted Chinese users from accessing the platform, as we read more in the latest Coin Security news today amid China’s blanket ban on cryptocurrencies. In order to comply with the regulations of local regulatory authorities, Binance announced that it will stop providing over-the-counter trading services involving RMB to users across the country. After the news was announced, market prices such as BTC fell. Binance stated that it will stop providing RMB over-the-counter trading services from December 31, and the company will also conduct verification of platform users. If it determines that any of them are located in China, it switches the accounts to "withdrawal only" mode, meaning they can only close their positions and exit the exchange.

2. Binance halted yuan trading and justified the decision with Chinese regulators’ continued crackdown on the cryptocurrency industry. The country and its central bank have taken a very strict stance against cryptocurrencies and have banned all local organizations from trading with companies related to the digital asset space. As a result, more than 20 companies, including platforms such as kucoin and Huobi, moved out, closed or shut down their operations in the country. According to a well-known Chinese reporter, Colin Wu, the most used social media platform in China, has also begun blocking searches for digital asset trading platforms, as Wu explained that almost all websites in China have begun blocking exchange or cryptocurrency-related content.

3. As with previous Chinese bans, token values ??on some exchanges have soared. Now we see it again after the coin security announcement. At the same time, most cryptocurrency markets are in the red. Bitcoin was trading above $56,500 before a sudden violent candle pushed it down to $2,000, so BTC is now at $55,000.

4. Likewise, as we reported, Currency Security users in South Africa have until January 6, 2022 to manually close their derivatives positions as the exchange suspends these services. This is the latest action taken by the world's leading exchange to comply with local regulators. As previously announced, Qianan reminds South African clients that it will cease providing any derivatives services, particularly those trading futures, options, margin and leveraged tokens. Effective immediately, users from African countries will no longer be eligible to open new accounts for these products.