Chinese Messaging App WeChat Set To Ban All Accounts Associated With Crypto A...
The crypto industry has experienced a lot of turmoil since 2021 till date. There have been many calls for regulations, mining bans, crypto gain taxes, etc. All these issues have made the sector very uncomfortable for investors. Of course, amid all that, the latest market crash hasn’t helped the situation either. But it seems that […]
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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....
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....
Innovative digital experiences are e a top priority for the coffee giant. Introducing social gifting is an intriguing idea that can be quite successful in China. Paying for Starbucks coffee can be done in a multitude of ways. Cash, payment cards, or even Bitcoin are all acceptable payment methods. But WeChat feels left out, and came up with a plan to rectify the situation. Through a strategic partnership between Tencent and Starbucks, a new social gifting feature has been created. This brings a new era of mobile payments to coffeeholics all over the world. WeChat its one of the most....
Tencent Holdings’ WeChat has suspended various accounts that promote digital collectibles, a term that is commonly used in China to refer to non-fungible tokens (NFTs) that cannot be purchased or traded using cryptocurrencies. WeChat — China’s biggest and most popular social media platform with a user base of over 1.2 billion — said that the primary […]
While WeChat isn't as popular outside of China as WhatsApp, it is ubiquitous on the mainland. WeChat, China's largest messaging app and one of the country's most popular payment services, will start supporting the Chinese government's digital currency.On Jan. 6, 2021, Tencent announced that it will begin accepting digital yuan payments via its proprietary mobile wallet WeChat Pay, according to a local news report. China has been developing a digital yuan since 2014, and it has yet to be implemented nationwide. If people start paying for goods and services with WeChat, which has more than 1....