Social Media App WeChat Bans All Crypto Chats Due to New Chinese Regulations
Messaging App, WeChat Suspends Accounts of Chinese Crypto News Outlets
It has been recently revealed that WeChat suspended accounts pertaining to Chinese crypto news outlets. Some of the suspended belong to Lanjiner, Jinse and Deepchain to name a few.
While the specific reasons as to why WeChat decided to halt the accounts remain unclear, it is evident that they must have done something against the ‘Temporary Regulations on the Development and Management of Public Information Services for Instant Messaging Tools’, which was established by China’s Cyberspace Administration.
The aforementioned accounts fall into their category of “violating” the terms and has thus far included that of Huobi News and CoinDaily as well.
In Coin Desk’s latest report regarding this matter, one of the rules from the terms and conditions was provided, which cautioned account holders of potential consequences given that one does not follow the guidelines. In particular, some punishments are said to include “warning, restriction, suspension, and closure until the account is closed, meanwhile saving the relevant records.”
Many speculate that this action reflects the Chinese government’s directions on cryptocurrencies and blockchain technology, but nothing has been confirmed as of yet. The country also seems to look down upon blockchain and crypto news outlet. More specifically, it is evident in their comment about the CEO of Huobi, as WeChat called the former as being “a classic example,” of violations.
Do you think it’s right for WeChat to shutdown accounts without giving proper notice? Let us know below.