Binance Denies Claims of $90 billion Crypto Trading in China

Binance, a popular cryptocurrency platform, is said to still be operating in China, despite the country's ban on cryptocurrencies. The Wall Street Journal (WSJ) reported that Binance users in China traded $90 billion worth of crypto in just one month. However, Binance denied these claims, stating that their website is not available in China.

This isn't the first time Binance has faced accusations of doing business in China after the ban. In March, it was alleged that Binance helped Chinese customers to bypass certain controls. Binance did not deny this but promised to investigate the matter internally.

After Binance supposedly left China in 2017 following a crypto ban, it was claimed that the company still kept staff and an office in the country. There was also a report about a Chinese bank account used to pay employees. 

Binance has recently been facing issues from global regulators. Belgium asked Binance to stop all digital currency services in June. On July 26, Binance withdrew its license application in Germany following rejections. Most recently, it was rumored that Binance was considering closing its US arm, but Binance chose not to comment.

Despite these challenges, Binance started trading operations in Japan on August 1, and was well-received by Japanese financial authorities.