Social Media Giant WeChat Blocks Some Blockchain and Crypto Related Accounts
WeChat, the most widely used social media platform in China with over a billion users developed by Tencent, has reportedly blocked many blockchain and crypto related accounts, local news outlet Lanjinger reports on August 21.
The financial news outlet quotes a WeChat official as saying that some crypto related accounts on the platform were suspected publishing ICO (Initial Coin Offering) and cryptocurrency trading “hype”, violating WeChat’s “Interim Provisions on the Development of Public Information Services for Instant Messaging Tools” terms and conditions. The official added that the official orders were given to block all content and also permanently block all public accounts suspected of the violation.
The interim provisions cited by the official were only recently introduced on August 7 by the Cyberspace Administration of China.
According to Lanjinger, Huobi News, Jinse, CoinDaily, and Deepchain are among the channels that have been affected by the move. CoinDaily’s official website claims its channel on the social media platform had more than 100,000 users in June 2018, and several other affected sites were also among the top 50 most influential accounts related to blockchain on WeChat, Lanjinger reports.
The number of total accounts blocked by WeChat remains unconfirmed, with a user claiming the number of blocked sites to be 8, although the report published by Lanjinger suggests the action has been more widespread.
As of press time, no comments have been made by Huobi and CoinDaily on the matter.
However, it must be noted that it’s not the first time the social media giant has blocked accounts from the crypto space. Earlier in May, WeChat suspended a third-party app that would have allowed the users to create unique social media ID and contract agreements, using blockchain technology.