When will the ban be banned? – The Chinese authorities and Bitcoin (BTC), it’s a long story of disenchantment. Despite all the bans and threats, local crypto enthusiasts therefore continue to make China one of the largest contributors to BTC mining. The new crypto ban Chinese concerns this time the instant messaging service of WeChat.
Cryptos are no longer allowed to exist on WeChat
Already last April, the social network WeChat banned non-fungible tokens (NFTs) of its platform. But this time, it is indeed all the cryptos that have passed through it, without distinction!
“WeChat, which has more than 1.1 billion daily active users in China, has updated its rules. WeChat public accounts that participate in issuing, trading and funding cryptocurrencies and NFTs will have their function limited or be banned. »
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Crypto-related companies? All “illegal”
In addition to qualifying “illegal businesses” all those related to the 3 types of activities referred to above (issuance / exchange / financing of cryptos), WeChat does not want to hear, even failed, of non-fungible tokens.
Accounts dealing with NFT transactions, including secondary (excluding platforms such as OpenSea), will therefore undergo exactly the same sorting:
“(…) accounts that provide services, or content, related to the secondary transaction of digital collections will also be treated in accordance with this article [d’interdiction]. »
Accounts in breach of this new regulation could be restricted Firstly. Then banished permanently, in the absence of rectifications made within a given period.
Without going so far as to speak of wet firecrackers, the countless threats and banishments presented by the authorities have so far only still not successful to eradicate Bitcoin and cryptocurrencies from China. Rest that this artificial slowing down of the adoption of cryptocurrencies an advantage for the Chinese One Party. The latter thus wishes to give a chance to his central bank digital currency (MNBC): the digital yuan (e-CNY).
Are you convinced of the merits of cryptocurrencies? Luckily, Bitcoin is allowed in China. Choose tranquility. Immerse yourself in the world of cryptocurrency smoothly. Sign up for FTX via this JDC affiliate linkyou will also get a lifetime discount on trading fees.