WeChat Still Censoring Cryptocurrency Accounts On Its Platform

The Chinese giant messaging app now targets accounts involved in sharing contents related to cryptocurrencies, bitcoin mining, and cryptocurrency analysis as it continues its clampdown on accounts related to cryptocurrency promotion on its platform.

Bitmain Account Blocked

As WeChat continues an effort to disassociate cryptocurrency activities from its platform, the official sales channel of Bitmain, a crypto mining giant firm was blocked on Monday. The Bitmain account ID “antminersale,” was noticed to have been cleared of all past information in had shared on the channel until this time. The page, therefore, notified users who visit the page for updates from the company that it had violated the app’s rules which had led to the closure of the channel. Quoting the message, it states that “Following users’ complaints, the platform [WeChat] has reviewed and discovered that this account – without having acquired authorized credentials or licenses – has been publishing and distributing information of relevant businesses it is involved in.”
The messaging firm has also been blocking accounts offering content related to cryptocurrency market prediction and analysis. A victim of this over the weekend is the Gold coins channel that has been involved in publishing crypto market analysis for the past nine months. So also is the account of delphy, an Ethereum based prediction application, blocked over the weekend.
Same notification cited for blocking Bitmain’s account was also stated for blocking the account of delphy and goldcoins.
Notably, while the official account of Bitmain was blocked, another account belonging to Bitmain, which provides product information for mining equipment was found active on Monday.
Tencent, the parent company of WeChat, has also blocked many cryptocurrency media sources in China on the ground of sharing information related to initial coin offerings on WeChat.
As noted by Coindesk, over 30 official accounts relating to blockchain and cryptocurrency has been blocked by WeChat so far.

Reason For The Blocks By WeChat

The reason for these accounts being blocked by the messaging giant is related to its decision to comply with the Chinese government injunction on cryptocurrency promotion and activities.
Last month the country banned cryptocurrency activities from holding in halls and event places. Likewise, every form of promotion of initial coin offerings in the country was banned. The new law was a further clamp down on cryptocurrency in the country after the ban placed on it last year.
The reason cited for the ban is an attempt to promote the national currency which the government considered threatened by the nascent cryptocurrency industry. This has led to firms such as WeChat complying with the governments rule on cryptocurrency by banning activities related to it from its platform.
Meanwhile, the Chinese government has adopted blockchain tech for its judiciary system, the building of a future city, taxation system among others.

Related posts
BanksBitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMarketsNewsUSAxbtusd

Bitcoin Retakes $57K As Hundreds Of US Banks Prepare To Offer Crypto Trading And Custody To Clients

Bitcoin has recouped the losses from recent sell-off after news that the world’s oldest cryptocurrency is soon coming to hundreds of United States banks. Data from CoinMarketCap shows that bitcoin is hovering at $57,091.36 at press time, with 5.47% daily…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTJamie DimonjpmorganNewsxbtusd

My Clients Care About Bitcoin, I Don’t: JPMorgan CEO Jamie Dimon

The trajectory that bitcoin has seen over the last decade has been nothing if not interesting. There was a time where it was popular among top financial executives to denounce bitcoin and declare it is a scam or fraud at…
CoinbasecryptocurrencyCryptocurrency NewsFeaturedNews

How Coinbase is Driving the Crypto Market to the Richest Fintech Hands

Not every cryptocurrency proponent is a fan of the giant exchange platform Coinbase. But if sentiments are kept aside, it is crystal clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will…