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WeChat Bans Bitcoin, Binance CEO Explains Why It’s Bullish for Crypto

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By CCN: Always the optimist, Binance CEO Changpeng “CZ” Zhao sees a silver lining in the wake of WeChat’s recent ban on crypto trading activities. According to a tweet today by Dovey Wan, founding partner of Primitive Ventures, the Chinese social media company released an updated payment policy which states that it will terminate merchant accounts that participate in cryptocurrency transactions. In her tweet, Wan argues that most of China’s over-the-counter (OTC) cryptocurrency trades occur on WeChat. So, the ban could have a significant effect on the local market This is a classic example of short term pain, long term

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* First published on ccn.com

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