Chinese online forum to ban crypto discussions

Monday 27 August 2018 10:34 CET | News

Baidu, a large Chinese technology company specializing in Internet-related services, has decided to censor all crypto discussions on its online forum.

Thus, the tech company has banned forum topics that discuss crypto-related activities on Baidu Tieba, the company’s Reddit-alike online community business, joining Alibaba and Tencent in a move that aims to distance itself from cryptocurrency-related activities. Launched in 2003, Baidu Tieba is the largest online forum community for Chinese internet users. The company claimed its forum business now has around 300 million monthly active users.

Commenting for the online publication on such closure, a Baidu Tieba representative hinted it was because these sub-forums were suspected of distributing information about initial coin offerings (ICOs) and cryptocurrency speculation.

On August 24, five high-level regulatory agencies in China jointly issued a warning against overseas cryptocurrency projects that use online communication channels to solicit investment from Chinese investors.

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Keywords: Baidu, China, crypto ban, Tencent, Alibaba, cryptocurrency, regulators
Countries: World