WeChat Will Block Accounts Associated with Cryptos and NFTs
Main page News, Cryptocurrency, NFT
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22 June

Popular Chinese messaging service WeChat, owned by tech giant Tencent, has just announced it will block accounts associated with secondary trading of NFTs as well as cryptocurrency trading, the South China Morning Post has reported.

The bans and restrictions will reportedly affect users who are involved in cryptocurrency trading or give recommendations on such transactions.

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Notably, Tencent also intends to watch accounts promoting services or content for secondary trading of "digital collectibles." The functionality of such accounts could be limited or even completely blocked.

These measures are likely related to the negative attitude of Chinese authorities towards cryptos and NFTs.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

In April, Chinese regulators urged companies to avoid interacting with non-fungible tokens.

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