WeChat bans crypto-related accounts
The Chinese social network analyzed its policies, thereby announcing a ban on services related to cryptocurrencies and non-fungible tokens (NFT)
Chinese social network WeChat recently announced a ban on services related to cryptocurrencies and non-fungible tokens (NFT).
Through the updating of its policies, the Chinese platform restricted the publication of this type of content, indicating that those who incur in this type of act will fall into the category of “illegal business”.
“Accounts that provide services or content related to the secondary transaction of digital collections will also be treated in accordance with this article,” highlights part of the new regulation.
In case of incurring in these acts, WeChat will give an estimated term for them to rectify as well as restrict some functions of the accounts. In case of persisting, the account will be closed permanently.
Popular platforms like WeChat and WhaleTalk, owned by the Ant group, have distanced themselves from the technology since March, after both began removing or restricting NFT platforms from their networks over a lack of regulatory clarity and fears of crackdowns from Peking.
K. Tovar
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Source: Cointelegraph
