WeChat Banning Crypto Trading is Not a Bad Thing: Binance CEO – News BTC

What happened: WeChat pay’s ban on crypto trading activities may not be a bad thing in the long run, according to Zhao Changpeng or CZ, CEO of crypto exchange Binance.

“It is inconvenient for people short term, and they take a hit. But long term, it is precisely this type of restriction of freedom that will push people to use crypto,” Zhang wrote in a Twitter post, adding that the new restriction may create new opportunities for other crypto companies. On Tuesday, WeChat updated its payment policy restricting merchants from participating in illegal transactions including crypto trading and token fundraising. The policy will come into effect on May 31.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.