Binance to Open Beijing Office Amid China’s Renewed Blockchain Push

[ecnalubma]

Malta-based cryptocurrency exchange Binance is opening an office in Beijing, two sources with knowledge of the matter told CoinDesk. The new outpost will join Binance’s current mainland China office in Shanghai.

It’s not clear what exactly the office will do or when it will open, but the move follows a slew of announcements from Chinese authorities, including President Xi Jinping outlining China’s new blockchain ambitions.

Relations between Binance leadership and Chinese authorities appear to have warmed recently, with the exchange publishing a report on China’s plans for a digital fiat currency over the summer and Binance CEO Changpeng Zhao stating this week on Twitter that he believes the Chinese central bank is having a positive impact on the crypto industry. This comes just one year after China’s censorship firewall blocked access to the Binance website.

These days, Binance executives have publicly stated the exchange is working with multiple governments on an upcoming stablecoin project called Venus. Binance co-founder and chief marketing officer Yi He told Bloomberg that Binance will help governments “fully supervise” the cryptocurrency industry through such projects to ensure “stable, sustainable development.”

Although Zhao grew up in Canada, he was born in China and worked at the China-based exchange OkCoin before founding his own empire. Binance made its first investment in a Chinese crypto company, Mars Finance, last September. Many of the exchange’s earlier investors hail from the Chinese tech industry, including Black Hole Capital and Funcity Capital.

Zhao added via Twitter on Tuesday that Binance currently sees a “few million dollars a day” worth of volume from Chinese users, especially via the peer-to-peer functionality that became available in China earlier this month. However, an increased focus on serving Chinese users doesn’t inherently mean the company is working with authorities on products or services beyond the Venus stablecoin project and compliance efforts.

“I don’t have anything that’s not public,” Zhao said in the Twitter video, referring to Chinese government strategies, adding:

“All of my readings are from public sources.”

source

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

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[exstasie]

The new outpost will join Binance’s current mainland China office in Shanghai.

It’s not clear what exactly the office will do or when it will open

Doesn't sound like major news to me. The author is trying to paint this as part of a pro-blockchain renaissance of sorts following the president's recent comments, but I don't buy it.

It's just part of Binance's recent push into the Chinese market. They launched peer-to-peer trading earlier this month, with plans to expand into the OTC market: https://cointelegraph.com/news/binance-launches-p2p-trading-for-chinese-yuan

[Wexnident]

Well, I hope they could breakthrough. China pushing for blockchain doesn't really indicate them being supportive for BTC adoption inside their country though.
Although it could also bw considered as somewhat normal? Since they are trying to push for different countries, what more China, as one of the largest countries in the world.
Well, let's just see what happens with this. China has been in the forefront of the news in recent times so I want to see what would happen in the next few months with China's development.

[NathanJB]

Binance is coming home. Since china is becoming friendly to blockchain, a lot of people and companies think that china is also becoming friendly to cryptocurrency and Bitcoin. But I have reservations with this actions of china. No one can predict what is running in the minds of this country's leaders. They could just declare Bitcoin and other cryptocurrencies other than their own digital currency as illegal. Binance and other crypto companies should be cautious with their decisions.

[hello_good_sir]

Not sure if I'd call it Binance to push adoption, I'd say their motives are a lot less noble that and are way more business oriented.

There's been no exchange that has been able to dominate the global market, and Binance wants the clients and revune from the biggest market in the world.

I'm guessing we are going to see China come out with a lot of pushback, they aren't going to let this slide. We've all seen them strongarm Alipay into drop support for them. We might be looking at full out war here which would be interesting.

[alyssa85]

Malta-based cryptocurrency exchange Binance is opening an office in Beijing, two sources with knowledge of the matter told CoinDesk. The new outpost will join Binance’s current mainland China office in Shanghai.

It’s not clear what exactly the office will do or when it will open, but the move follows a slew of announcements from Chinese authorities, including President Xi Jinping outlining China’s new blockchain ambitions.

 

If the office is being opened in Beijing - the seat of the Chinese government - then the purpose of the office is LOBBYING. They want someone on the spot to open back channels to officials with power.

[AmoreJaz]

Binance is coming home. Since china is becoming friendly to blockchain, a lot of people and companies think that china is also becoming friendly to cryptocurrency and Bitcoin. But I have reservations with this actions of china. No one can predict what is running in the minds of this country's leaders. They could just declare Bitcoin and other cryptocurrencies other than their own digital currency as illegal. Binance and other crypto companies should be cautious with their decisions.

very true. how their mind works are quite different. they have their own strategies in business!
however if bnb can push thru the actual opening of their office in beijing, that would be great! but on bnb's side of business of course!
if they can pull it off, we can say that bnb's lifespan in crypto has just been prolonged...

[Tipstar]

China is where binance started. Though the Chinese government has not been critical to crypto industry that earns money, but they were concerned about it's citizens investing in crypto and some using it to hide money from CCP. Binance than chose to leave the country and as now the party sees the potential profit from crypto industry, it might be willing to bring in companies like binance that could pay a good tax to the party.

[The Sceptical Chymist]

Doesn't sound like major news to me.

Yeah, maybe it isn't major news but it is a little bit newsworthy.  Binance is one of, if not the best exchanges out there, and if they're expanding their offices I at least find it interesting.  I just can't stand the fact that I can't use them anymore because I'm in the US in a state that they have on their "banned" list.  Not that I do a hell of a lot of trading and I don't trade with fiat, but I did used to use them from time to time.

Anyway, it's good they're expanding in China.  I can never remember what the legal situation is over there with crypto, but this is a good sign at least.  IIRC China banned mining but not crypto, and they just officially gave their support to blockchain technology--though I'm sure that will mean they want to create their own shitty government-controlled crypto. 

China is where binance started.

Really?  That's another thing I ought to pay attention to and remember--where these exchanges are located.  I was aware that Binance is operating out of Malta, but I didn't know about their origins.  Nor do I know much about where other exchanges are located.

[Willitivity]

Since China has started loosening their tight crypto regulations, maybe it's time for Blockchain based companies to start some developments there considering the population who are interested in cryptocurrencies. Binance coming to China is a welcomed development, but I hope the Chinese government doesn't reconsider their stand on cryptocurrencies once again.

[Febo]

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

If I am not mistaken Binance was originally planed to be in China, but because of China kicking out all exchanges in 2016 established outside. It was on one Caribbean or one  Asian country and latter moved to Malta. All big exchanges will try to open Chinese exchange.

[Wysi]

Since China has started loosening their tight crypto regulations, maybe it's time for Blockchain based companies to start some developments there considering the population who are interested in cryptocurrencies. Binance coming to China is a welcomed development, but I hope the Chinese government doesn't reconsider their stand on cryptocurrencies once again.

We can just hope that the Chinese government does not repeat the past by threatening the exchanges to shut down or move out and if Binance is stepping back into china which means that the government is going soft towards crypto again. This bold move from Binance will definitely prompt other players to think of Chinese market again and possible return.

[pugman]

The new outpost will join Binance’s current mainland China office in Shanghai.

It’s not clear what exactly the office will do or when it will open

Doesn't sound like major news to me. The author is trying to paint this as part of a pro-blockchain renaissance of sorts following the president's recent comments, but I don't buy it.

It's just part of Binance's recent push into the Chinese market. They launched peer-to-peer trading earlier this month, with plans to expand into the OTC market: https://cointelegraph.com/news/binance-launches-p2p-trading-for-chinese-yuan

And to add on to what you have said, knowing how much shit is going on China, there isn't really much Binance's office would be able to supposedly do. All of this feels fairly vague, and I doubt any of this would actually be effective, cause for all you know this is news spread to cause disruption in the market.

And as for Binance working with the government/s, it seems great and all, but without any proper information, this whole project will take years to roll out for all you know. Binance is really going wild these days, cause who would have thought China would unban Binance from their proxy admist of everything going on.

[Serco]

Since China has started loosening their tight crypto regulations, maybe it's time for Blockchain based companies to start some developments there considering the population who are interested in cryptocurrencies. Binance coming to China is a welcomed development, but I hope the Chinese government doesn't reconsider their stand on cryptocurrencies once again.

We can just hope that the Chinese government does not repeat the past by threatening the exchanges to shut down or move out and if Binance is stepping back into china which means that the government is going soft towards crypto again. This bold move from Binance will definitely prompt other players to think of Chinese market again and possible return.

i think they will not do same thing at the past.binance strategy by open new office in beijing its good tactical.they undirectly will have psywar with local government,they will communicate with them which is maybe discuss about legalization and permit for china investor join in binance market.binance's ceo quickly response mr president that support blockchain developtment in china. He thinking good signal for cryptocurrency market too ,and hope after that china will legalized crypto.

[huu78]

I think there will be no pressure from the government to binance regulatory issues like that. That we know China is already using blockchain technology where the government is told to adopt blockchain.
And yesterday they launched a currency named DCEP above the auspices of governance? So it does not matter if Binance opens their office there, it is even better for more traders to use binance.

[Wexnident]

Since China has started loosening their tight crypto regulations, maybe it's time for Blockchain based companies to start some developments there considering the population who are interested in cryptocurrencies. Binance coming to China is a welcomed development, but I hope the Chinese government doesn't reconsider their stand on cryptocurrencies once again.

We can just hope that the Chinese government does not repeat the past by threatening the exchanges to shut down or move out and if Binance is stepping back into china which means that the government is going soft towards crypto again. This bold move from Binance will definitely prompt other players to think of Chinese market again and possible return.

I dont think they could ever go against crypto. It's just that they wanted to at the very least, take hold of the crypto community inside the country and that's why they kicked out most exchanges situated there. We could even see the majority of miners there, so I doubt they actually hated or abhorred the crypto in their country itself. Now that they have preparations to create their new coins, plus their push towards blockchain implementation, I guess you could say that they have opened their gates once again, after reorganizing everything inside.

[Google+]

This is a good development given by the Binance platform and place of exchange because I see them growing and spreading cryptocurrency and from that meeting the Binance platform will help increase the demand for cryptocurrency in its market, for this increase it will have a good influence on the price of coins in a place of exchange because it can make prices increase because of the influence of the meeting held by the Binance exchange place.

[Sithara007]

Opening an office at Beijing is a good sign from Binance. A lot of their users are from mainland China and previously they had to depend upon the Hong Kong office (they have another office in Shanghai, but from what I have heard it is a small one). With the situation Hong Kong being very volatile with little improvement, the inauguration of the Beijing office would be a boon for the Chinese users. But that said, I would not read too much in to the statement from Xi Jinping. Just because he was praising Blockchain, we can't say with 100% surety that he will be supportive about cryptocurrency.

[BitHodler]

I'm not too surprised nor do I think it's news worthy. Binance will keep closing and opening offices around the world as they never feel too comfortable staying in a country for too long with their non compliant attitude.

In the long run it will be the compliant exchanges getting back all the users they lost to exchanges such as Binance, so this is actually the time to get yourself finally to comply with legislation as exchange. You can't keep running away for ever.

[blckhawk]

Opening in China, knowing that the country has a huge part in Bitcoin's network, is maybe a good idea. Sincea large percentage of people there are aware of cryptocurrencies, and especially in mining, they could attract more people to use their exchange and therefore, more trade/exchange activity that would be good for the market. However, China is known to impose their rules to their liking and if they decided to outright ban Bitcoin or other cryptocurrency, then this could be a problem to Binance.

[jacafbiz]

It makes complete business sense for them to open office in China, we all know how China operates and if the people bought into what the president says then it is a new big market. I would expect more exchanges to follow suit because  they won't want to miss out of the new opportunity

[target]

Well its about time. The company has been known to hire Chiense individuals as their CEO is Chinese so its about time they go establish on their own soil. If China will support the wide use of blockchain then it would make sense to house a big well known exchange for traders. Will they also be open for US exchanges to settle on Beijing?  Chinese market is big, its going to be an opportunity outside exchanges to come in.

[alexsandria]

Maybe it will. Although China government has only one sided decision in this after all. Though may be the two could meet half-way on making their decisions because they'll be needing each other specially China. Besides the interest are already in China they are just making a safe decision with regards with their own crypto because after all they are against with Bitcoin.

[kapalmabur]

Well its about time. The company has been known to hire Chiense individuals as their CEO is Chinese so its about time they go establish on their own soil. If China will support the wide use of blockchain then it would make sense to house a big well known exchange for traders. Will they also be open for US exchanges to settle on Beijing?  Chinese market is big, its going to be an opportunity outside exchanges to come in.

it seems like if the exchange from the United States settled in China it would be a different story, I know Binance the CEO is Chinese,
and that gives a positive side to making the green light, the news makes the community feel happy because China is now open about crypto currencies

[smyslov]

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

Possibly,  if China think that Binance can help their cause to create their own and launch it successfully, both of them have their own interest to consider, I don't think Binance can influence China, they can only support it, China is still the major player in the Cryptocurrency, Binance just want to be at the right place, when something huge happen in China.

[el kaka22]

This is more about taxes than anything else for the countries. For example, if there are countries that banned these type of stuff or make it difficult then binance would open one at the border nation instead of you and pay tons of taxes there.

If I was a government official I would honestly reach out to binance myself and I would give them some support to open an office in my nation as well, that way I could get them all settled here and then start taxing them a fair amount, not a lot, not small, just whatever is the fair tax and then I would be making a ton of money from it. Binance is definitely rich enough to have one office in every single nation including small island nations, they are billionaires, so opening an office is nothing for them.

[Xxmodded]

Well its about time. The company has been known to hire Chiense individuals as their CEO is Chinese so its about time they go establish on their own soil. If China will support the wide use of blockchain then it would make sense to house a big well known exchange for traders. Will they also be open for US exchanges to settle on Beijing?  Chinese market is big, its going to be an opportunity outside exchanges to come in.

it seems like if the exchange from the United States settled in China it would be a different story, I know Binance the CEO is Chinese,
and that gives a positive side to making the green light, the news makes the community feel happy because China is now open about crypto currencies

Binance always revolution how to make investor interested with binance exchange and legal using crypto for currency, now Binance want to open Beijing office. Binance keep giving best ideas how to make bitcoin have many investor with prepare real product look how serious of bitcoin and altcoin become legal transaction payment, binance the only way how to change with crypto world.

[Hamphser]

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

Possibly,  if China think that Binance can help their cause to create their own and launch it successfully, both of them have their own interest to consider, I don't think Binance can influence China, they can only support it, China is still the major player in the Cryptocurrency, Binance just want to be at the right place, when something huge happen in China.

Probably, because they were moving or putting different branches for their business across the world. It seems like this is all about their taxes that they were going to pay if they would stay in a single place.
Binance might influence China but China can really influence binance if they want to, it is just up to the people.

[target]

Well its about time. The company has been known to hire Chiense individuals as their CEO is Chinese so its about time they go establish on their own soil. If China will support the wide use of blockchain then it would make sense to house a big well known exchange for traders. Will they also be open for US exchanges to settle on Beijing?  Chinese market is big, its going to be an opportunity outside exchanges to come in.

it seems like if the exchange from the United States settled in China it would be a different story, I know Binance the CEO is Chinese,
and that gives a positive side to making the green light, the news makes the community feel happy because China is now open about crypto currencies

Binance always revolution how to make investor interested with binance exchange and legal using crypto for currency, now Binance want to open Beijing office. Binance keep giving best ideas how to make bitcoin have many investor with prepare real product look how serious of bitcoin and altcoin become legal transaction payment, binance the only way how to change with crypto world.

If you have in your wildest imagination, do you think the government of China is going to use Binance to monitor all the users who engage in cryptocurrencies?  
It just come into my mind since they already dominate the cyptocurrency and suddenly they started to establish an office in US and in China which very surprising because even when Xi Jinping wants to accelerate blockchain development, the government still doesn't support crypto and BTC.

[7788bitcoin]

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

To be honest i am wondering what the plans are, binance started their P2P market to focus on the Chinese market and there were obstructions from companies and the government to restrict the flow of money into bitcoin and now they are planning to open an office in China  . Not sure what is happening, accepting blockchain does not mean they are accepting bitcoin or alt coin, whether Changpeng Zhao has other plans is to be seen.

[BigBoy89]

Binance opened a US branch on 23 Sept https://finance.yahoo.com/news/binance-us-opens-deposits-registrations-131459196.htm.
Now a Chinese office and most probably a trading platform very soon.

It will be interesting to see both working and will the US Congress trying to implicate some restrictions on the US branch due to the Chinese activities of Binance. Still, BNB is one of the best investments around.

[Baofeng]

Binance opened a US branch on 23 Sept https://finance.yahoo.com/news/binance-us-opens-deposits-registrations-131459196.htm.
Now a Chinese office and most probably a trading platform very soon.

Nah, Chinese won't allow any exchanges to be open soon specially Binance in their soil. They won't change their stance banning crypto exchange.

It will be interesting to see both working and will the US Congress trying to implicate some restrictions on the US branch due to the Chinese activities of Binance. Still, BNB is one of the best investments around.

That's the thing, I really don't understand why people are so excited about China right now. I hope you guys don't forget what did they in 2017.

[BigBoy89]

Binance opened a US branch on 23 Sept https://finance.yahoo.com/news/binance-us-opens-deposits-registrations-131459196.htm.
Now a Chinese office and most probably a trading platform very soon.

Nah, Chinese won't allow any exchanges to be open soon specially Binance in their soil. They won't change their stance banning crypto exchange.

It will be interesting to see both working and will the US Congress trying to implicate some restrictions on the US branch due to the Chinese activities of Binance. Still, BNB is one of the best investments around.

That's the thing, I really don't understand why people are so excited about China right now. I hope you guys don't forget what did they in 2017.

Maybe the Chinese will finally allow it. Because they are actively deleting articles and online materials about the crypto ban after Xi Jinping 180-turn on cryptocurrencies.

The Chinese government is actively preparing to launch own crypto. While IMO they will connect it to their mobile apps (https://daxueconsulting.com/payment-methods-in-china/), I'm sure they will also want to have it on some (regulated) exchanges. And if Binance is one of those regulated exchanges... BNB will skyrocket.

[Mometaskers]

This wouldn't affect cryptocurrency that much. According to this same article they're coming in for their peer-to-peer business and that don't necessarily mean crypto. I don't see eternal emperor Xi's stance on crypto just suddenly changing.

They want to eventually ban mining. It's not hard to imagine they want all trading in crypto to cease as well.

[hello_good_sir]

Well its about time. The company has been known to hire Chiense individuals as their CEO is Chinese so its about time they go establish on their own soil. If China will support the wide use of blockchain then it would make sense to house a big well known exchange for traders. Will they also be open for US exchanges to settle on Beijing?  Chinese market is big, its going to be an opportunity outside exchanges to come in.

it seems like if the exchange from the United States settled in China it would be a different story, I know Binance the CEO is Chinese,
and that gives a positive side to making the green light, the news makes the community feel happy because China is now open about crypto currencies

Binance always revolution how to make investor interested with binance exchange and legal using crypto for currency, now Binance want to open Beijing office. Binance keep giving best ideas how to make bitcoin have many investor with prepare real product look how serious of bitcoin and altcoin become legal transaction payment, binance the only way how to change with crypto world.

If you have in your wildest imagination, do you think the government of China is going to use Binance to monitor all the users who engage in cryptocurrencies?  
It just come into my mind since they already dominate the cyptocurrency and suddenly they started to establish an office in US and in China which very surprising because even when Xi Jinping wants to accelerate blockchain development, the government still doesn't support crypto and BTC.

That seems like quite the conspiracy theory mate. I think it's definitely something that could be possible, but Binance has always been very big on stopping this sorta stuff.

I do think we are going to end up with this happening, the Chinese government attempting to get into Binance's books to try and stop crime, or just get in their books.

Binance is likely either going to try fight them off and likely have hell for the rest of the time they can operate in China, or end up packing their bags and leaving

[CryptoBry]

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

Binance will not become the most recognized leader in the cryptocurrency exchange business if the people behind don't have that intuitive acumen that can easily read trends and get there before of the competitors would be aware. Such is the superb ability of CZ that I am sure years from now, he will single-handedly dominate this industry and be the man recognized by China helping it in its own ambitious cryptocurrency project. For sure, this is all about business and there is nothing so noble about Binance's push in China but there is nothing wrong with working for profit, is there?

Mark Zuckerberg is to social media what Changpeng Zhao to cryptocurrency exchange. And by the time that CZ can successfully help in prodding China to open up its market to Bitcoin officially, I am sure his name and legacy can forever be etched in this industry. Soon, we will wake up and then we realized that the cryptocurrency currency is already painted and covered by the colors of the flag of China. Who knows, Satoshi Nakamoto will even turn out to be a Chinese by decent...hmmm. Welcome to China, welcome to Binance.

[davinchi]

Maybe the Chinese will finally allow it. Because they are actively deleting articles and online materials about the crypto ban after Xi Jinping 180-turn on cryptocurrencies.

The Chinese government is actively preparing to launch own crypto. While IMO they will connect it to their mobile apps (https://daxueconsulting.com/payment-methods-in-china/), I'm sure they will also want to have it on some (regulated) exchanges. And if Binance is one of those regulated exchanges... BNB will skyrocket.

Lol, I think that they were just too forward in actually having statement to ban bitcoin without first researching on it first and seeing if there is possibility of them also joining in the sphere, here they have found themselves now also interested in the same thing that they have been working against for a while now.

Their story made me to remember how Facebook started hunting down cryptocurrency projects from their own platform not knowing that a time will come that they too will also be interested in the same cryptocurrency business, and now, they will understand the challenges projects do face before they get support, and I think that china own currency too will suffer the same fate, because not many people would want to use their centralized coin.

[wozzek23]

These top countries are stylishly regulating cryptocurrency and I think that the first step they might have in their agenda is to have these exchanges have their presence in their country and also have a platform that is going to be separated for their citizens for them to be able to regulate the projects that are coming on it for the safety and security of their citizens and also for their trades to be taxable.

I will not be surprised that after they establish their exchange in the country, they will limit the use of it to china citizens, but it is still a very good move that Binance is making though to be getting the support from some of these government that has been against them once, and this is a clear sign that china has totally embrace cryptocurrency.

[NeuroticFish]

CZ is Chinese after all. If there's a chance he can get his business back home, he will do it. I guess that China is by far a country he understand better.
His runaway to Malta was a move he did because he had to, it was not about preferences.
So it's a quite normal move. The only surprise is that this is discussed this early.

[Kemarit]

CZ is Chinese after all. If there's a chance he can get his business back home, he will do it. I guess that China is by far a country he understand better.
His runaway to Malta was a move he did because he had to, it was not about preferences.
So it's a quite normal move. The only surprise is that this is discussed this early.

Could be, but I'm sure he had a lot of talks from the government prior to bringing Binance to China again. Maybe there was some incentives or sort of under the table agreement between the two that's why China open their doors to Binance. This is still news worthy though, specially from big and wealthy Chinese. We all know that there are a lot of Chinese billionaires and I'm sure the bitcoin or at least crypto in general is on their radar to expand their wealth, so this is a win-win situation for the Chinese government, Binance and Chinese people themselves.

[clickerz]

It makes complete business sense for them to open office in China, we all know how China operates and if the people bought into what the president says then it is a new big market. I would expect more exchanges to follow suit because  they won't want to miss out of the new opportunity

Yes, when China announces its support in blockchain technology and wants to accelerate the development, it opens more opportunities to more investors and developers including exchanges. CZ's move to open Binancein China is timely and open a great opportunity to traders and cryptocurrency in general.

[JeffBrad12]

It makes complete business sense for them to open office in China, we all know how China operates and if the people bought into what the president says then it is a new big market. I would expect more exchanges to follow suit because  they won't want to miss out of the new opportunity

Yes, when China announces its support in blockchain technology and wants to accelerate the development, it opens more opportunities to more investors and developers including exchanges. CZ's move to open Binancein China is timely and open a great opportunity to traders and cryptocurrency in general.

Im pretty sure that CZ somehow has understood the situation there to take risk off opening up a new office in Beijing its not like he just build the office there without any understanding. Whether it will be benificial for binance or not is up to china decision in the future and it seems that binance will only follow the flow. But if chinna is really trying to bring adoption to blockchain it might greatly benefit binance so thats why he tries to gain market share there just in case.

[1Referee]

We all know that there are a lot of Chinese billionaires and I'm sure the bitcoin or at least crypto in general is on their radar to expand their wealth, so this is a win-win situation for the Chinese government, Binance and Chinese people themselves.

I'm pretty sure that if native billionaires in China end up taking a position in Bitcoin, they will do it through the unofficial channels. China has been extremely aggressive towards the wealthy elite when it comes to what assets they buy into, mainly for the purpose of preventing capital flight, which Bitcoin obviously is the perfect tool for.

China rather keeps limiting people's freedom and not gain anything financially than to allow decentralized protocols such as Bitcoin to gain ground.

[beerlover]

Well, they might be from CHina ( cz at least) but that is a bad thing to do. That is why China is so powerful and kills anyone that opposes them and also have concentration camps, because people are liking the cheap products and they want to work with China to make more profits.

We could all boycott apple for working with China to build their phones for example, "assembled in china" my ass, its "MADE" in china and there are people who are jumping off the roofs in those factories so much that they literally built nets around it to prevent deaths, there are people who die while building these phones.

Every single iphone out there means there are people dying because someone is willing to buy it, yet do we stop? No. We are fine with people dying some other land so we could have our shiny brand new iPhone ABC+PLUS X or whatever is the new one. So I can't really blame Binance to go where the money is.

[joinfree]

Changpeng Zhao is always trying to expand his business with the slightest opportunity. Well it all up to the profits of his company so yeah it is a good idea but i don't see how setting up an office over there can convince the government to soften up on cryptocurrencies. What the government would be interested in is the huge tax that they would be taking from them lol.

[audaciousbeing]

If there is any business that is positioning itself for opportunities, I give it to Binance the moment they see a green light in a market they go in whether the green light will crystalize or not. They ensure they position themselves in the minds of enthusiasts while continuing to ensure client satisfaction to a large extent in other areas of their business and that is what most businesses in crypto lacks. The moment they are online, they just forget about the local market where services should be tailored to the needs of certain nationals others would even prefer to bar some certain nationals because they don't want to bother themselves about the technicalities of filings with the relevant government agencies.