Is Eurex Exchange legal in China?

European exchange is illegal in China. According to Chinese law, digital currency trading platforms that are not approved by the People's Bank of China are illegal operations. EureX is headquartered in the Cayman Islands and does not have the qualifications to legally conduct business in the country. Although Oyi claims to have withdrawn from the Chinese market, it still provides services to domestic users through overseas servers and other methods. There are legal risks involved in participating in such transactions.

Is Eureka Exchange legal in China?

Short answer: No.

Detailed explanation:

European Exchange (formerly known as Binance) is an overseas digital currency trading platform headquartered in the Cayman Islands. According to my country's relevant laws and regulations, any digital currency trading platform that is not approved by the People's Bank of China is illegal. Therefore, EuroExchange does not have the qualifications to legally conduct business in the country.

Specifically:

• The "Notice on Preventing Bitcoin Risks" clearly states that no institution or individual in my country is allowed to engage in Bitcoin transactions and other related activities.
• The "Notice on Censoring Virtual Currency "Mining" Activities" requires that illegal activities involving virtual currencies in the name of "mining" be severely cracked down and all virtual currency trading venues in the country be closed.

Therefore, it is illegal for domestic users to conduct digital currency transactions on the Eureka Exchange and may bear corresponding legal consequences.

Note:

Although Eureka has announced that it has withdrawn from the Chinese market, it can still provide services to domestic users through overseas servers and mirror websites. Therefore, domestic users need to carefully assess the risks when participating in such platform transactions to avoid being subject to legal sanctions for participating in illegal activities.

The above is the detailed content of Is Eurex Exchange legal in China?. For more information, please follow other related articles on the PHP Chinese website!