Search Giant Baidu Seeks to Ban Crypto Discussions on its Forum
Chinese search giant Baidu seeks to ban and censor cryptocurrency-related activities on its forum.
The search giant is reportedly seeking to ban and censor topics that discuss cryptocurrency-related activities on Baidu Tieba, Baidu’s Reddit-alike forum platform, local news outlet China Times reports Sunday, August 26.
The report said, citing an anonymous source close to Baidu:
“Currently, the company has toughened its scrutiny over digital currency and will not allow sub-forums under this theme, based on relevant rules and regulations,”
At the moment, searching for keywords “digital currency” and “virtual currency” on Baidu Tieba are resulting in a statement stating “This forum is temporarily closed due to relevant laws, regulations, and policies.”
Commenting on the closure of these sub-forums, a representative for the platform hinted that it was because of the sub-forums distributing information about cryptos and ICOs (Initial Coin Offerings).
The representative added “The same with why WeChat did it”, referring to the Tencent’s recent move to block several crypto media channels on its WeChat messaging platform because of suspected distribution of information related to crypto trading and ICOs.
Launched in 2003, the platform claims to be the largest online forum platform in China. Search giant Baidu claims that its forum business has more than 300 million monthly active users.
However, as of press time, other crypto-related sub-forums still remain active on Baidu Tieba, such as “ethereum”, “bitcoin”, and “bitcoin mining”.
The platform’s decision to censor crypto-related activities on its forum platform comes just after the news related to suspension of accounts using mobile payments applications for conducting over-the-counter crypto trading, by Alibaba and Tencent both.
On August 24, 5 regulatory agencies in China issued a warning against overseas crypto projects using online communication channel to attract investment from Chinese investors.