Blockchain and cryptocurrency media banned from WeChat

Wednesday 22 August 2018 10:58 CET | News

WeChat, the messenger app owned by Tencent, has banned blockchain and cryptocurrency media accounts in China.

As first observed by Lanjiner, a China-based finance news outlet, among those affected are Jinse, which is backed by Node Capital, and Deepchain, a site supported by several token funds, according to CoinDesk.

It is not clear why the accounts have been affected, however, newly-enacted rules from China’s government may have played a factor, the online publication continues. On August 7, the Cyberspace Administration of China announced and enacted a set of rules called the Temporary Regulations on the Development and Management of Public Information Services for Instant Messaging Tool that lay the groundwork for accounts to be impacted on the grounds that they must “abide by relevant laws and regulations”.

Back in March 2018, Peoples Daily, the state-run media outlet in China, claimed that blockchain and cryptocurrency media outlets were helping manipulate the cryptocurrency market.

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Keywords: WeChat, blockchain, cryptocurrency, China, crypto market
Countries: World

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