The transactions made China Binance’s biggest market by far, accounting for 20% of volume worldwide, excluding trades made by a subset of very large traders, the WSJ said. The newspaper did not specify the month during which the transactions were made. Binance’s origins lie in China, though the world’s largest crypto exchange withdrew from mainland China in 2017 during a regulatory crackdown. “The Binance.com website is blocked in China and is not accessible to China-based users,” a company spokesman told the WSJ. The exchange is also under investigation by the U.S. Justice Department over possible money-laundering and sanctions violations, Reuters has reported.

Source: Wall Street Journal August 02, 2023 08:56 UTC