Chinese state media accuses Binance of violating regulations; Binance responds: misunderstanding, it was just a test network

China Central Broadcasting and Television Network (referred to as CCTV) is a key official media outlet of the Chinese government. This afternoon, at around 4 o'clock, CCTV released a news report titled "Can Binance Cryptocurrency Exchange still conduct transactions? Response claims it is a test website", stating that according to their investigation, Binance seems to still be providing services to users in mainland China, and CCTV reporters were able to conduct P2P transactions on the platform. In response, Binance stated that binance.com cannot be accessed in China, and another website (binancezh.com) is a test site with the majority of users coming from Egypt. According to a report by ChainNews, the website is still operating normally.

Intentionally Blocking Binance's Return to the Chinese Market?

Just on May 19th, Binance was reported to be returning to its roots with some good news. "Binance China" is set to establish a blockchain fund to assist in the development of the Chinese blockchain industry. "Shanghai Binance Information Technology Co., Ltd." (phonetically similar to Binance) has even been filed with the Ministry of Industry and Information Technology. The Binance China website has been grandly launched, with the establishment of two domains, "biannews.cn" and "binance.cn". The content on these two websites is non-trading related, only serving as company introductions.

According to investigations, the "biannews.cn" webpage has already been suspended, while the other webpage "binance.cn" is still operating normally.

Rumors suggest that Huobi and OKEx are part of the national team, hence their operations in China have not been obstructed. Binance has been specifically mentioned in official media this time, and the true intentions behind it remain known only to the parties involved.