China Shuts Down Cryptocurrency and Blockchain News Accounts on WeChat

China Shuts Down Cryptocurrency and Blockchain News Accounts on WeChat

Blockchain Cryptocurrency News
August 22, 2018 by Jane
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China has shut down several blockchain-related news accounts on the WeChat social app, one of China’s top social apps and banned hotels in downtown Beijing from hosting events promoting cryptocurrencies. WeChat is currently one of the world’s largest platform with more than 1 Billion active users worldwide. WeChat has support for ‘Mini-Programs’ where developers can
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China has shut down several blockchain-related news accounts on the WeChat social app, one of China’s top social apps and banned hotels in downtown Beijing from hosting events promoting cryptocurrencies.

WeChat is currently one of the world’s largest platform with more than 1 Billion active users worldwide. WeChat has support for ‘Mini-Programs’ where developers can create applications to run within the messaging platform.

The shutdowns are the latest instance of China’s continuing crackdown on cryptocurrencies, which began last September with bans on local cryptocurrency exchanges and ICOs, an unregulated crowd fundraising method involved with cryptocurrencies and often associated with scams.

Links to all previous content are now merely showing a notification that reads:

“The platform may have violated relevant laws and regulations after being reviewed per users’ complaints. The account is currently blocked and content is not available.”

The ban includes the accounts of some of the biggest cryptocurrency platforms of the country such as Jinse Caijing, Shenlian Caijing, and Huobi News, though their sites and apps are still functioning.

Although the news was a blow to China’s crypto community, it didn’t catch everyone by surprise.

Wang Peng, founder of Shenlian, wrote in an internal letter to employees that was obtained by Quartz;

“This is the beginning of Shenlian and our chance. “We’ve sensed [the tightening up] coming half a month ago, and have prepared for it, but we weren’t able to escape it,”  We will be 100 times better than what we are now.”

 

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