Binance and Huobi, two of the world’s largest crypto-exchange that has its origins in China. However, they are treated differently by the Chinese media. What’s the point?
Binance dragged through the mire
Binance, this was as a result of the mud brought up by the Chinese state-controlled media while arch-rival Huobi on the same day, metaphorically crowned.
China National Radio (CNR), the news, an official mouthpiece of the Chinese government, has published a story about the ICON’s illegal in China since at least 2017, and he warned the listeners and readers about the potential risks associated with the loss of their capital in an unregulated market. The story highlighted the dangers of the OIC market, with the focus on the failed projects and wasted money.
It FEATURES an article that was very negative about Binance. The article went on to security breaches (due to the slackness of the Binance and the story claimed that users of the Binance because of this, a huge amount of money would be lost.
FEATURES warned that will some of the cryptobeurzen from China to foreign countries have moved to the Chinese regulatory environment, to work around this problem, but the fact that they will be able to focus on the user in the mainland of China. They warned that if the consumer is not in a position to verify the identity of the operator is required to determine the loss of property will be difficult to repair, it would have been.
Huobi can’t go wrong
In the meantime, Huobi’s long-time rival of the Binance, is very different, presented by the state-controlled media. And that’s what you in the first place, not expect it as Huobi just as the Binance to foreign countries have moved to change the rules to avoid them.
On the Central Television-Channel 13 (VIDEO), it was Huobi this week is an important part of the technologiecluster in Hainan, the new vrijhandelshaven of China.
Binance and Huobi are in the exact same business, and that is to make sure that customers have the coins to buy it or sell it for another cryptocurrency or fiatgeld. Why is she treated differently by the Chinese media.
The first plan than a policy change
Kelly, Le, and Sam Barry from the Forkast writing, that, as the Chinese state television, radio, newspapers, or online nieuwsplatforms a note of caution about the company that are often followed up by a new policy. This is happening not just in Chinese companies, even Apple is here, on the subject in may 2013.
In response to the story on the China National Radio said Binance, now that their Chinese site is just a test bed and not intended for general public use. The exchange asserts that, according to their analysis, the majority of users are actually from the land of Egypt came from the mainland of China.
Whether or not the local office
Binance has been since the end of 2018 is no longer registered in China, as the company said that its headquarters out of the country and displaced as a result of a hostile regulatory environment. At the end of 2019 at the latest there were rumors that the police department and the office of the Binance in Shanghai, though that turned out to be nonsense.
Huobi has a representative office in China is held, but is actually from outside the country. In essence, there is little to no difference in operations between the two companies, they are competing for the same customers. However, there is one very important difference.
When the Binance from the China times, kept Huobi in an office in China, as well as all the business was now overseas-owned. Within the company, she opened a section of the Communist Party of China. This information is taken from the again of the Forkast.
Be willing to work with us
Hosting your own personal lobbyafdeling of the government, it is a place that a lot of the big companies in China. Because of this, she’s become a friend of the government, and to give them a signal that they are willing to work and to the regulations to comply with. According to the Forkast in the user guide, the Communist Party is that each and every company in China, with at least three party members in the workforce, their own partijtak need to set it up.
Huobi is just that little bit further, and it is now a part of China’s national Blockchain-Service, Network as one of the 14 founding members. Bloomberg reports that Huobi is also involved in various projects in China’s Belt and Road initiative”.
No wonder that the Binance, in the eyes of the Chinese media can’t do it.