Cryptocurrency Q&A
Why are Chinese exchanges still considered Tier 2?
Why are Chinese exchanges still considered Tier 2?
Elena
Fri Jul 19 2024
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7 answers
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I'm curious to understand why Chinese cryptocurrency exchanges continue to be classified as Tier 2 despite their significant market share and user base. Are there specific regulatory, technological, or security factors that prevent them from achieving a higher tier? It seems they've made strides in recent years, yet the classification remains unchanged. Could you elaborate on the criteria used to determine these tiers and why Chinese exchanges specifically have yet to move up?
7 answers
KimchiQueenCharm
Sun Jul 21 2024
Despite various developments in the cryptocurrency exchange landscape, we continue to categorize certain exchanges as Tier 2.
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CharmedVoyager
Sat Jul 20 2024
BTCC's services encompass spot trading, futures contracts, and wallet solutions, among others, catering to the diverse needs of its clientele.
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Daniele
Sat Jul 20 2024
This designation is primarily due to their ability to maintain a strong customer base, comprising loyal users who have remained with them over time.
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BonsaiGrace
Sat Jul 20 2024
Rumors suggest that the Chinese government, while not explicitly endorsing these exchanges, allows them to operate within certain parameters.
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BlockchainWizardGuard
Sat Jul 20 2024
However, it is believed that the government closely monitors their transactions, ensuring that they adhere to regulatory requirements and maintain transparency.
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