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Bitcoin hits session lows as leading exchange said to delist CNY pairings

13 Oct, 2021

Bitcoin has just now dropped back below 55k and is hitting session lows after news has emerged that the leading crypto exchange, Binance is to delist all CNY pairings. Quite what that means is hard to determine at this immediate stage, but it could follow on from the moves by the Chinese authorities to ban all kinds of Crypto transactions to Chinese citizens. Hence, if that means that non Chinese based exchanges (even if domestically domiciled) are now to bar entry to Chinese holders in their fiat currency, then it would make sense for this news (if correct) to further endorse what the Chinese government is seeking to achieve. This news has not been confirmed and only appears here after it is receiving newswire coverage. Bitcoin is currently trading at 54,750
 

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