Binance and Tron’s Weibo Accounts Shut Down Due to “Violation of Law & Regulation”

However, several Chinese companies including Huobi, OKEx, NEO, and Ontology are still live.

China’s Twitter, Weibo has officially banned the accounts of leading cryptocurrency exchange Binance and 11th largest cryptocurrency Tron.

Weibo is one of the biggest social media platforms in China with over 445 million monthly active users as of Q3 2018.

“The account has been blocked due to violations of laws and regulations and the relevant provisions of the Weibo Community Convention,” reads both the entities’ Weibo page.

Both the official Weibo accounts have been blocked and the followers have been cleared as well. As per the China Times, this restriction could be subject to “more stringent penalties.”

It further said Binance launching the fiat payment gateways through WeChat and Alipay could also be the reason behind this ban.

In early October, Changpeng Zhao, co-founder, and CEO of Binance confirmed that users can use both the payment networks in P2P transactions for payment. However, Alipay responded with “NO, you cannot.”

Alipay further announced that any transactions that are related to Bitcoin or any virtual currencies would be immediately stopped while WeChat said it will “never” support crypto trading and has never integrated with any cryptocurrency merchant.

There is no clarity on the reason behind this ban. However, Weibo accounts of other crypto companies and digital assets viz. Huobi, OKEx, NEO, and Ontology are intact. Also, the personal Weibo accounts of CZ and Tron founder Justin Sun are working.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Insufficient Clarity for Regulations And Taxes May Force US Investors Move On: Coinbase Tax VP

The Chief Tax Officer of Coinbase, Lawrence Zlatkin, believes that lack of clarity in the US' crypto taxes could alienate prospective investors. He shared...

Chinese Ride-Hailing Unicorn, Didi Chuxing, to Pilot Digital Yuan; First Mass Scale Use of DCEP

China's 'Uber,' Didi Chuxing, will test run the digital yuan according to an announcement on July 8. The Chinese ride-hailing unicorn has over 500...

Kyber Network Makes DeFi Debut Following a Protocol Upgrade and KyberDAO Mainnet Launch

Kyber Network has launched a protocol upgrade dubbed 'Katalyst' alongside Kyber DAO on the Ethereum mainnet as per a blog post yesterday by the...

Stablecoins Yet Again Under Regulatory Scrutiny In Revised FATF Report: They’re “Better Placed To Achieve Mass-Adoption”

In a Tuesday report, the Financial Action Task Force, with members from about 200 countries, said stablecoins need to comply with standards to guard...

Chinese Shipping Giant, COSCO, to Use Alibaba Subsidiary Ant Financial's Blockchain for Maritime Logistics

Following a successful partnership between the shipping giant, Maersk, and IBM to set up an enterprise blockchain. Ant Group and COSCO become the...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today