RATE Group | China cracks down on cryptocurrency by shuttering WeChat accounts — Quartz
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China cracks down on cryptocurrency by shuttering WeChat accounts — Quartz

22 Aug China cracks down on cryptocurrency by shuttering WeChat accounts — Quartz

Posted at 09:52h in Cryptocurrency News by

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Tencent is giving Chinese authorities a helping hand in cracking down on cryptocurrencies.

Last night (Aug. 21), WeChat, Tencent’s messaging app with a billion users, permanently closed a number of public accounts that provided news and updates on the cryptocurrency and blockchain ecosystem. At least nine accounts have been taken down, according to financial-news outlet Caixin (paywall, link in Chinese), including crypto-focused media outlets Coindaily, Huobi Zixun, Shenlian, and Caijing—considered some of the most influential news accounts (link in Chinese) on WeChat.

WeChat said that (link in Chinese) some accounts had violated China’s regulations for instant-messaging services (link in Chinese), though it didn’t specify which rules. It later told reporters the accounts were suspected to be issuing initial coin offerings (ICO) and spreading rumors on cryptocurrency trading.

China is famously mixed about cryptocurrency. After it banned crypto trading and ICOs, the…

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