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Beijing said this week it will fundamentally revise its rules on raising capital for companies at home and abroad.
While the target of the restrictions is a separate legal entity from Binance, the move expands regulatory crackdown on the cryptocurrency sector amid concerns about its potential involvement in money laundering and fraud.
China's proposed move to cut stamp tax has been misinterpreted by some investors that it could lead to a reduction in trading costs, although no such mention is made, analysts said.
The explanation comes in the face of recent price volatility and since Beijing is trying to make a distinction with its own sovereign digital currency.