Crypto exchanges and related service providers are rushing to sever ties with Chinese clients after The People’s Bank of China dubbed all crypto-related activities illegal as the country’s latest crackdown on cryptos unfolds – the broadest yet by any major economy. The Chinese central bank announced on Friday that all digital currency-related services within mainland China are banned and also warned overseas exchanges providing services to Chinese users to end operations in the country.
So you’re looking to get in on the crypto craze and you’ve been wondering how and where you can get your hands on digital currencies? The very short answer is a cryptocurrency exchange, of which there are three main types. Let’s dig a little deeper and find out which one will work for you!
The world’s biggest cryptocurrency exchange, Binance, has been issued a warning by the UK’s FCA (Financial Conduct Authority), indicating yet another sign of a growing global crackdown on cryptos. Binance Markets Limited, which is the UK division of Binance, “is not permitted to undertake any regulated activity in the UK” according to an announcement made by the FCA on Saturday the 26th of June.
Leading cryptocurrency trading platform Binance is opening up to the trade of tokenized stock from some of the biggest companies in the world. Tesla’s stock became available for trade in the form of a token on this popular platform. They have also added fractional shares of their rivaling exchange Coinbase after it went public on April 14. Now, Binance has announced that it will be listing tokenized shares of Microsoft, Apple, and MicroStrategy by the end of April this year.