WeChat Bans Multiple Accounts Associated With NFTs Trading

Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. Popular Chinese App to Impose Restrictions on NFT Trading Wechat, the instant messaging, social media, and mobile payment app developed by the Chinese tech giant Tencent, is introducing a policy update that will prohibit the provision of certain services related to non-fungible tokens (NFTs) and cryptocurrencies on its platform. Quoted by....

Wechat, the Chinese messaging app, has reportedly suspended accounts that are linked to non-fungible tokens (NFTs). The objective of the crackdown is to stop the use of the affected accounts in promoting NFTs. The Widening Crackdown on Digital Assets The Chinese messaging app Wechat recently acknowledged it had suspended some accounts which are said to be linked to non-fungible tokens (NFTs). The suspension of the accounts, according to a BBC report, is aimed at stopping such blacklisted accounts from engaging in NFT market promotional activities that help to drive up....

The policy also covers secondary NFT trading as the firm notes that “accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with.” The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services. Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the “illegal business” category. The policy also covers secondary NFT trading, with the firm....

Cryptocurrencies may see a boost between China and the U.S., as the American president Donald Trump has signed an executive order banning financial transactions with eight China-based payment applications. Following the signing of Trump’s new executive order, popular payment apps including Alipay, Wechat Pay, and Tencent’s QQ will be banned in America in 45 days. According to the latest executive order signed by U.S. President Donald Trump, Americans will be prohibited from transacting with eight different Chinese payment applications. Transactions processed with these apps....

BitcoinTalk staff quietly banned multiple accounts that were connected to Sir William's protest against BitcoinTalk for allowing people to buy and sell their BitcoinTalk accounts. MajidBC, the account who messaged SirWilliam in an attempt to purchase his account, is now banned along with the "CozyLife" account as they found the write-up on their practices not to their liking. CCN's policy is only to report what authors can prove and to update the articles with new information as it arrives. Also read: Bitcointalk Accounts Are Being Bought and Sold. BitcoinTalk Staff Quietly Bans Those Who....