Topic: Binance is not a Chinese Exchange (Read 492 times)
To build a company, they must follow the jurisdiction of the country where the place of business was created. That way because they are not within the territory of China, they do not need to obey the jurisdiction of China. it's just that CZ is a Chinese citizen so CZ still must follow the jurisdiction, in this case the transfer of citizens one way. Although the country of China prohibits the exchange of bitcoin, but I have not heard the news of the penalty of users who use bitcoin.
Though Binance is already transferred in Malta but the CEO of binance remains to be Changpeng Zhao a Chinese - Canadian national. If we talk about ownership since Changpeng Zhao is a Chinese and he owns binance together with some chinese this would mean that Binance is still a Chinese Exchange since it is operated by the Chinese. I do believe that it is not the location that determines the exchange but rather it is the owner. Still for me Binance is a Chinese Exchange operating in Malta.
Since it is not bound by the law of China and it is owned by a private entity, it is neigther a Chinese exchange or a Malta exchange but rather a private exchange, founded in China, and stationed in Malta.
Its founded in China what else could you think that exchange is besides it s Chinese exchange. A lot of people hate Chinese I get it. But I wouldn't expect a Chinese company will deny being Chinese, we don't normally see that because they take pride of it.
Is this for tax that Binance will really be denying it being Chinese exchange?
You can just answer the question if China have controlled over this exchange, if no then it is not. That simple.
I think that china has actually relaxed their cryptocurrency law a bit, and reason being that they have their own agenda of creating cryptocurrency also, and once the ambitions comes in, it will automatically kill the way they go against cryptocurrency, just like the way Facebook was blocking every cryptocurrency project then, but since they started introducing their own Libra, I think they have not blocked crypto pages that much.
Everything you said here is correct, binance already moved their headquarter to china, but I thought that huobi is from china and domiciled in china just like Coinbase is owned by a US citizen and also domiciled in US? I am surprised you said that there is no exchange operating in china directly for now, but I think huobi does.
Everything you said here is correct, binance already moved their headquarter to china, but I thought that huobi is from china and domiciled in china just like Coinbase is owned by a US citizen and also domiciled in US? I am surprised you said that there is no exchange operating in china directly for now, but I think huobi does.
Its founded in China what else could you think that exchange is besides it s Chinese exchange. A lot of people hate Chinese I get it. But I wouldn't expect a Chinese company will deny being Chinese, we don't normally see that because they take pride of it.
Is this for tax that Binance will really be denying it being Chinese exchange?
Who care whether Binance is or is not a Chinese Exchange platform? The safety of an exchange platform is the most important aspect of every exchange platfom rather than finding out which country the platform belong to. So far as exchange platforms serve its purpose in the crypto ecosystem, the location of the developers of the platform will not be necessary..
I think the one that says the binance exchange place is China is very racist, it shouldn't be like that, the CEO of the Binance exchange site only looks like a Chinese person but the Binance exchange place is no ban from China.
Wait a second. What? Although Hong Kong had a few things separated from China (infrastructure, legal system), it's still part of China as far as I know. Yeah, it's not governed directly by them but indirectly it is. Have you heard "All roads lead to rome"? Well, if you backtrace the way Hong Kong works as a country, you'll get to China pretty easily even with their own money and passports and everything.
Binance was first initiated in Hong Kong, but it's been moved to Malta last year as a safe move of its headquarters due to the strict rules China imposed. Here's more information JFYI: https://www.maltatoday.com.mt/business/business_news/93170/why_world_leader_crypto_exchange_binance_moved_to_malta#.Xap6OhhRU0M
Oh wow. My bad then, I was actually really confused about binance and the Alipay issue, because I thought China approved then but then later on retracted their approval by making sure Alipay can't help them.
So, I guess they are a registered exchange and they can operate in China, even if they have no license and permission from the government? That's more lax then I thought.
I wonder what China is going to do to try and ruin Binance, they definetly don't like the company...
So, I guess they are a registered exchange and they can operate in China, even if they have no license and permission from the government? That's more lax then I thought.
I wonder what China is going to do to try and ruin Binance, they definetly don't like the company...
I think the one that says the binance exchange place is China is very racist, it shouldn't be like that, the CEO of the Binance exchange site only looks like a Chinese person but the Binance exchange place is no ban from China.
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in advance of the Chinese government ban on cryptocurrency trading in September 2017.[4]
as far as i can tell there ha never been any "ban" on cryptocurrency "trading" in China. the only thing they have ever banned was ICOs because of obvious reasons (being scams and all that) and also they closed down the Chinese exchanges which were laundering money more than anything else.
They are forced to move from China to Japan and no to Malta due to legality issues on each country
I have lately seen a lots of posts regarding how Binance has introduced trading in Chinese P2P pairs even when BTC exchanges are completely banned by China. The truth is no exchange is operable in China. Binance shifted it's headquarters from China to Malta back when China banned Cryptocurrencies here is the link to Wikipedia page which verifies the fact : https://en.wikipedia.org/wiki/Binance
It clearly states that:
So it doesn't comes under the jurisdiction of Chinese Law so there is no need of any Chinese Government permission required by them to operate in CNY p2p pair. It's the people who have to be worried regarding their legality. It's for those people who have started thinking that China has relaxed it's cryptocurrency Laws a bit.
It clearly states that:
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The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017.[4] By March 2018 the company had established offices in Taiwan.
So it doesn't comes under the jurisdiction of Chinese Law so there is no need of any Chinese Government permission required by them to operate in CNY p2p pair. It's the people who have to be worried regarding their legality. It's for those people who have started thinking that China has relaxed it's cryptocurrency Laws a bit.
Binance moved out of China a long time ago. They have offices in Hong Kong and Japan and Malta was a later move.
Crypto though banned is china, chinese people still are the one of the largest traders of cryptocurrency. Chinese are the largest P2P traders of crypto.
The deals happens with the platforms like Wechat and Alipay which are all in one social and financial apps. Binance did wanted to tap that market and provide an easy platform for both sellers and buyers with some juicy rates but it's involvement did raised concern in China.
I think the point of contention for some is that Binance was founded in China by CZ but due to the regulatory pressures, moved to Japan and then again due to FSB hard line stances against exchange (they have laid down their own regulations) Binance then suddenly moved to Malta wherein they are welcome because the country is really attractive back then and still is at this point.
So for some this is a bitch moved by Binance (moving from one country to another to get away) and this is the main reason why many are surprised by CZ decision to open up a P2P trading recently in China, just saying.
So CZ first time build exchange market in China before move to other country, Best ideas with Binance exchange move to one country for other country for promoting how fantastic investment with hundred altcoin kinds listing in Binance, move one country to other country I think best ideas how to get many investor each country have stay by Binance owner, I think Binance located in China because CZ look like Chinese. So for some this is a bitch moved by Binance (moving from one country to another to get away) and this is the main reason why many are surprised by CZ decision to open up a P2P trading recently in China, just saying.
Binance located in Malta, if Binance from China maybe have banned last three years when China banned all bitcoin and altcoin transaction in their country.
They're Chinese-sy at least. Of course they move away from China to make sure they can do their IEO pump & dump without any problem.
It’s good that Binance develops its network locally, as well as creates different stable coins. I think that this is the best development strategy for exchanges, which is at the moment.
What good comes from creating a hundred of stable coins? It only fractures the market, especially if you don't offer anything new. Even if Binance create a new stable coin, it will be the same lack of transparency and trust issues.
Binannce is an exchange come from Malta I think and not a Chinese exchange, although the owner like like Chinese I think Binance located in Malta, if Binance from China maybe have banned last three years when China banned all bitcoin and altcoin transaction in their country.
Binance exchange publish in Malta country but we can use Binance for every country in the world, but for China depend on how their government with exchange market like binance, legal or not. United Stated have legal for using binance exchange where have launching Binance US exchange, China have many investor like for investing their money in bitcoin and altcoin.
It’s good that Binance develops its network locally, as well as creates different stable coins. I think that this is the best development strategy for exchanges, which is at the moment.
Binance exchange publish in Malta country but we can use Binance for every country in the world, but for China depend on how their government with exchange market like binance, legal or not. United Stated have legal for using binance exchange where have launching Binance US exchange, China have many investor like for investing their money in bitcoin and altcoin.
And most of Binance's employees are chinese and for sure most of them are migrated to their headquarter at MALTA.
I think they had moved in Malta because for me, laws in Malta that about cryptcurrency are not so strict compare it to some very strict when it comes to cryptocurrency.
I have a question, it is legal to have some job about cryprtocurrency if you are from China? But you are working remotely, let's say the main office of your company is located from other country.
Yes I think it's legal because china hasn't expressly said that Cryptocurrencies and dealing in them is banned. It has only banned exchanges present in their country and does not has any sort of punishment for those who violate the law. Moreover when the exchange is located in an altogether different country charges of any law intervention are even low. I think they had moved in Malta because for me, laws in Malta that about cryptcurrency are not so strict compare it to some very strict when it comes to cryptocurrency.
I have a question, it is legal to have some job about cryprtocurrency if you are from China? But you are working remotely, let's say the main office of your company is located from other country.
Changpeng Zhao is a Chinese and he owns binance. Therefore, in a sense it can be said to be a Chinese Exchange. That is my own opinion!
What kind of opinion is that, if someone is starting a company outside the country of his birth and registered elsewhere how can you call that company originated from the country of his birth 
. Changpeng Zhao is settled in Vancouver, Canada and studied in Canadian universities and you still think that binance is a Chinese exchange 
. If you know his history you will not tell this as his father exiled from China and probably will not be going back. And most of Binance's employees are chinese and for sure most of them are migrated to their headquarter at MALTA.
I think they had moved in Malta because for me, laws in Malta that about cryptcurrency are not so strict compare it to some very strict when it comes to cryptocurrency.
I have a question, it is legal to have some job about cryprtocurrency if you are from China? But you are working remotely, let's say the main office of your company is located from other country.
I think they had moved in Malta because for me, laws in Malta that about cryptcurrency are not so strict compare it to some very strict when it comes to cryptocurrency.
I have a question, it is legal to have some job about cryprtocurrency if you are from China? But you are working remotely, let's say the main office of your company is located from other country.
I think this depends on the jurisdiction and law of China. If Chinese government have no jurisdiction over a country, they cannot implement their law. So these people who are stationed on other country where Chinese government have no jurisdiction have all the freedom to do what they wanted to do about cryptocurrency.
I think it is neither Chinese exchange nor Malta exchange, it is a private exchange owned by a Chinese Citizen whose headquarter is in Malta.
China was once a big market and a supportive nation for Cryptocurrency and related activities. Without China bitcoin might have not grown high during the early days of its usage. At some point it opposed the usage of cryptocurrencies and bitcoin stating it was causing devalue of their traditional currency. Based on such issues Binance moved to Japan and nowtit has more regional support as it has established in different countries.
I have lately seen a lots of posts regarding how Binance has introduced trading in Chinese P2P pairs even when BTC exchanges are completely banned by China. The truth is no exchange is operable in China. Binance shifted it's headquarters from China to Malta back when China banned Cryptocurrencies here is the link to Wikipedia page which verifies the fact : https://en.wikipedia.org/wiki/Binance
It clearly states that:
So it doesn't comes under the jurisdiction of Chinese Law so there is no need of any Chinese Government permission required by them to operate in CNY p2p pair. It's the people who have to be worried regarding their legality. It's for those people who have started thinking that China has relaxed it's cryptocurrency Laws a bit.
It clearly states that:
Quote
The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017.[4] By March 2018 the company had established offices in Taiwan.
So it doesn't comes under the jurisdiction of Chinese Law so there is no need of any Chinese Government permission required by them to operate in CNY p2p pair. It's the people who have to be worried regarding their legality. It's for those people who have started thinking that China has relaxed it's cryptocurrency Laws a bit.
I would disagree with this submission. For the fact that it is not based in China does not remove the fact that its a Chinese business because we have seen nationals of some countries establish businesses in other countries. Now if the majority of the shareholders are Chinese nationals, irrespective of where the business is located, it will and still remain a Chinese business because should in case the individual decides to sell his stake in the business and return home, its still going to be a form of capital inflow to China.
Another thing to note is that, for the fact that you are operating in another territory does not mean you are not covered by the laws of another country. For instance, if a company operating outside the United States should offer services to the citizens of United States, you are by default covered by the applicable laws of that country regarding the kind of services you are offering which is why you see several gambling sites or exchanges and even ICOs specifically ban US citizens and the same thing applies to China. Now why would anyone want to do a China Pair option if not having the mind that Chinese citizens would patronize it.
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