China’s WeChat bans crypto and NFT-related accounts
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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 noting that “accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with in accordance with this article.”
The move was highlighted by Hong Kong-based crypto news reporter Wu Blockchain (Colin Wu) on June 20, as he pointed out the significance of the action given that WeChat has more than 1.1 billion daily users in China.
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