February 27, 2021

Changpeng Zhao: rumors about the legalization of exchanges in China are not true

According to the head of the Binance exchange, Changpeng Zhao, a document strolling around the network allegedly legalizing exchanges in China is not at all license of the People's Bank of China, and a simple certificate of business registration.

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“Let's get this over with. This document, even if genuine, is not an exchange license. This is a simple business registration document, every Chinese company has one. “Trading services” means a lot of things. No need to worry too much and there is no negative. Just a misleading post ”

Primitive Ventures Managing Partner Dovi WangShe emphasized that in Chinese corporate law there is no concept of “legalization of cryptocurrency exchanges”. The Crypto Even post, which raised a lot of noise from nothing, is about simple company registration.

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Recall recently Xi Jinping spoke inblockchain technology support, having a positive effect on market sentiment, the stock price of some Chinese companies and the number of searches for the word “bitcoin”.

However, the Chinese People’s Daily newspaper soon called on investors to remain rational and not count on the authorities to approve cryptocurrencies.