Binance was banned in mainland China a few years ago due to restrictive Chinese government policies regarding cryptocurrency trading. Since then, Binance has moved its main headquarter to the Cayman Islands and Seychelles.
However, the Chinese government ban on Binance reportedly doesn’t stop binancezh.com from accepting OTC trades from mainland Chinese users.
The report came from a CNR reporter who claimed that he was able to register a new account on binancezh.com and even complete a standard OTC trade from CNY to BTC. After this report came out to the public, Binance made an official statement that the domain binancezh.com is just a “test site” and not marketed toward Chinese mainlanders.
As for the allegedly successful OTC trade, Binance claimed that it’s hard to identify Chinese mainland individuals if they are currently overseas or if they are using an ID issued from another country.
Binance also has registered another Chinese domain - binance.cn, to create a website that is focused on blockchain technology education. Binance has no plan to use binance.cn domain to sell or trade cryptocurrencies like its main binance.com platform.
Source: CoinTelegraph
