Bitcoin Forum

It seems that China intends to further crack down on the cryptocurrency market, while binance and OKEX are both Chinese exchanges, and the founders are all Chinese. I am very concerned about whether the exchange will be closed. ???

According to the news, in the current state, China is considering to ban domestic access to these exchanges; so if the ban goes through, these exchanges shouldn't be accessible from China, but for the rest of the world everything should be hopefully OK.

i didnt think so.
since popuarity of those exchange is strong.
with internal coin goes famous too.
cmiiw

binance have more than 6 million users so it is very hard to close this kind of exchanges,i thought they have b-c-d plan every kind of problem about this kind of actions.

i don't think binance is based in china

Their record of 240,000 users registered in just 1 hour tells it.
It cannot be closed easily because of its popularity.
Maybe the Chinese government could just use this to make money for themselves since trading website creates a lot of money than the trader inside it.  ;D

Binance now has a large number of users and is no longer Chinese, so there is no need to worry about this. Now binance's whole team and company are in Japan, not China. So how can you say that Binance is Chinese? ;D

6 milion of people are registered and using Binance, I don't think it's going to be easy to close such a big exchange. Maybe only the Chinese citizens won't be able to access it.

Especially binance grew a lot recently and it’s a giant exchange now. It would be harder to take actions against that kind of exchanges but we are talking about China so i don’t know how their governments think about crypto generally. I hope they will let their people use these all aspects of crypto.

Binance and Okex exchanges will not close, maybe they will be banned in China and some another countries but there are still a lot of users from all around the wordl. They can just move servers and office to another place and work .
I think so.

I don't think that Chinese government will be able to close such exchanges as Binance. It's one big exchange now and will continue to grow overtime.

They Won't close. If China ban crypto exchanges they will just move to another country and do their operations there as they make a lot of money on this business.

No they will not be closed, also that is not important if even they are closed. Because there will be other alternatives once they close.

i think binance will not close. it is very big exchange in the crypto world. It is managed according to the rules of China.

Although there are some risks I don't think that there will be some disaster. These exchanges can be shut down for a while, then relocate and open again. Relocating company's registration is not hard, but takes time. So, no worries and patience.

I think so, too, they will not be close, because seems binance the work the team is now in Japan, and Japan exchange cooperation, OKEX seems to work in Hong Kong, China, however, so I think OKEX can be dangerous.

This fact 1000% will be used for market manipulation;) After new BTC pump at  ATH China again will try to ban something)

China intends to close all Bitcoin markets (last September). The virtual currency is banned by the Bamboo Curtain because it is considered dangerous.but the reality does not close the market there.
We hope it does not happen and there is always a solution to every problem that arises.

I have not heard any updated news about closing!!

It is true that no news has been received about China closing these exchanges, so I don't think it is very necessary to worry about this.

Binance are in Hong Kong so they won't close any time soon.

I don't think these two exchanges will close because these are the best 2 exchanges at the moment. If these two exchanges are closed, it will surely create a huge effect and may cause the Cryptocurrency market to completely collapse.

China can ban their access in China but can't take them down. Binance is already a big exchange with a huge number of users. They can't shut it down that easily.
Binance have their BNB as well ;)

Hopefully.
For sure some of the people now hesitate to buy/deposit coins to these exchanges platforms; not until they will have an official announcement regarding this news to clarify things.

According to the official telegram group of binance, binance will not closed.
Here is the answer about China Ban Cryptocurency,
The first round of banning last year was about closing down all FIAT exchanges, which is why Binance moved to Japan and HongKong. And also Binance is smart enough to stay away from FIAT since then.
The incoming second ban - this time is about closing down all OTC market. Stopping people doing private sales which is still available up till now. That’s why all Chinese are selling their coins.

Binance is a very popular exchange and I don't think they will close it any time soon but I'm not sure about the other one. I've been trading on Binance in past and I never had a single problem with them I highly recommend it but it's a bad idea to keep all your money on a exchange since no one knows when they will close down and run away.

I believe the two exchanges will not be closed. Because their servers are not in China. It has been moved to overseas. All needless to worry about.

I also believe that the these two exchanges will not shut down, because the two exchange transactions are the encryption monetary market need, if close the these two exchanges, so for the encryption of monetary market is very serious, even lead to the arrival of the bear market.

China can block their access in China but I think they can't close them for the whole world unless they are based in China, which is not the possibility as they move out from China after last year news.

The notion fo their business could be an advantage for them against Chinese government. I bet they are spread across more than two datacenters on at least two continents so they can migrate quickly from Chinese jurisdiction. And nothing prevents them from moving the company and the team to sunny Singapore ;)

I wouldn't be concerned about Binance, I think it will be fine. But some smaller exchanges might suffer with government crackdowns.
Always a good idea to not keep your crypto on the exchanges though as we're all aware that there can be problems. Have everything in private wallets, and only keep what you need for trading on the exchanges.

I have an account in Binance and not going to bother to withdraw funds or stop trading. At the end, it's only Binance that has Native android app for trading from my TAB :D

First of all binance is not working from China. It has offices in Hong Kong and Korea.
Second watch the conference that was held yesterday at Seoul. In that conference binance owner spoke about regulations and rules in different countries and they are going to abide by all this terms. So practically it's safe

You newer know what can happen with China. More likely that binance will be banend for chinese customers/residents.

dont think that will happen, it is not a china based exchange

Furthermore, i think they registered on under locale which will make them free of the ban :P

As already mentioned, Binance isn't incorporated in China, so the PBoC crackdown is irrelevant to it.

hope not, think they got many customers outside china from many countrys worldwide

AFAIK Binance is oparated from Japan.

If it ever came down to that I think they would just move elsewhere where they can operate freely. I mean they run a multi-billion Bis, how could they. I know I would not.

As far as I know, Binance based on a post on Reddit is not from China so rest assured that it won't halt its operations even if China bans exchanges (again). Binance servers are located in Korea and Japan and the company is based in Hongkong. HK is a country different from China so I guess it doesn't have to adhere to the rules implemented by China. These exchanges are big and popular so I think they have plan B to Z to assure their clients how safe is their funds in them.

To be honest, the Chinese government has no control over the exchanges.
The Chinese government is unable to obtain real data, let alone impose restrictions on these exchanges, even if the data and bills are not available. ;D

for now and up to 5 years in the future I think okex and binance will still survive (my prediction), because the user of this is exchange is very much so it is difficult to make the exchange is closed.

No one can be sure! The exchange works very well but after the exchange, you should withdraw all your coins to your destop wallet! To be safe when policy changes!

Ive heard binance were transfered to hongkong so dont worry mate,binance is safe to use as of now.

Millions are registered in binance and the token is climbing on top so I believe this one is far from the true. Sometimes news is purposely created to drag down What is on top.  :)

They will find a way to avoid this such as moving office and servers aboard, like in 2017 09.

This is difficult because the platform is not only for China, but for the whole world, so the exchanges will find a way if it blocked to continue , also i think chain's people will find a way to access the exchange

I don't think that such huge exchanges can easily be closed. Also I heard that Binance is not from China, so we shouldn't worry about it's closing.

As far as I know, changes can only affect China. In the rest of the world, the changes will be minimal.

i think binance is in Hong Kong located and its like malta in eu, offshore zone, so mainland chinese laws are not  working there, i hope we will continue to enjoy its service.

i think they wouldn't, as long as we still can access it even China can't, it will not stop them, especially Binance already be a big market with their daily volume, the owner wouldn't close it

Binance is not based in china so we are safe. I think okex is Hong Kong they have different rules than mainland china.   

If they find a way to regulate and close down the binance exchange i suggest that people start to dump the BNB binance coins which will be worthless without the binance exchange itself! I don't actually think it is possible to shut it down but you never know as there is a lot of regulation happening over in east asia right now.