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Regulatory Dynamics
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Leading Global Crypto Exchange: Claims of Approval for China's Top Three Platforms Are Misinformation
According to public statistics around 2024, Binance is often considered the world's leading centralized cryptocurrency exchange by trading volume, with Bybit, OKX, and Coinbase also among the top tier. The claim that the so-called "Big Three" Chinese virtual trading platforms have received state approval and regulation is inconsistent with the facts: in 2021, a notice from ten departments characterized virtual currency-related business activities as illegal financial activities, and HTX, Binance, and OKEx have since withdrawn from the Chinese mainland market.
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Leading Global Crypto Exchange: Claims of Approval for China's Top Three Platforms Are Misinformation
According to public statistics around 2024, Binance is often considered the world's leading centralized cryptocurrency exchange by trading volume, with Bybit, OKX, and Coinbase also among the top tier. The claim that the so-called "Big Three" Chinese virtual trading platforms have received state approval and regulation is inconsistent with the facts: in 2021, a notice from ten departments characterized virtual currency-related business activities as illegal financial activities, and HTX, Binance, and OKEx have since withdrawn from the Chinese mainland market.
Regulatory Dynamics
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