China Shuts Down Blockchain News Accounts on WeChat
In a fresh crackdown on cryptocurrency-related activities, China has blocked several blockchain-related news accounts on WeChat, one of its top social apps.WeChat Crypto Accounts ShutteredIn 2017, China had imposed a ban on ICOs because of their unregulated nature and the scams associated with them. The recent ban has been imposed due to the accounts’ non-compliance with “national interests” and “public orders”, as the concerned accounts were found to be publishing information on Initial Coin Offerings (ICOs) and cryptocurrency trading.The ban includes the accounts of some of the biggest cryptocurrency platforms of the country such as Jinse Caijing, Shenlian Caijing, Huobi News according to reports though their sites and apps are still functioning. These company’s leveraged WeChat’s large user base of over a billion members to reach out to their own niche audience segment. Their revenue models included sponsored content about upcoming ICO projects. The information offered on these accounts was
Like this article? Take a second to support us on Patreon!