Changpeng Zhao called disinformation reports on the legalization of cryptocurrency exchanges in China

Changpeng Zhao, director general of the Binance cryptocurrency exchange, described the news that the Chinese authorities allegedly started legalizing the cryptocurrency exchanges as disinformation.

One of Twitter Crypto Even users declaredthat he had at his disposal a photo of a real “license of the People’s Republic of China for cryptocurrency trading.” According to him, this supposedly means that the process of “legalization of cryptocurrency exchanges” has begun in China.

“Even if this document is genuine, it is only a confirmation of the registration of a business. This is not a stock exchange license. Any company in China has one. “Trading services” can mean many things, ”- declared
Zhao.

As Primitive fund partner Dovey Wan explained, “There is no such thing as a cryptocurrency exchange license in China.” “The Chinese registry of legal entities registered many companies that have passed the” licensing “and provide services in the field of digital assets.”

Recall that after the statement
President of China Xi Jinping, who called for accelerating the implementation of blockchain in the country, received a lot of news from China related to the development of initiatives in the field of blockchain. It also provoked
the growth of the value of “Chinese” cryptocurrencies. However, media controlled by local authorities called on
residents of the country do not perceive blockchain support as support for cryptocurrencies, operations with which are still banned in China.

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Also this week, Vice Chairman of the China Center for International Economic Exchange (CCIEE) Huang Qifan said the People’s Bank of China will be the first to issue state-owned cryptocurrency in the world.