NFT EveningNFT Evening

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    NFTs on Facebook: The Time Has Finally Come!

    July 1, 2022

    What is Doxxing? Why You Should Know What It Means To Be Doxxed

    July 1, 2022

    Doodles 2: Everything About The New Doodles NFT Collection

    July 1, 2022
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • Home
    • NFT
    • Crypto Art
    • Collectibles
    • Blockchain games
    • Interviews
    • Guides
    • NFT Calendar
    • NFT Conferences
    NFT EveningNFT Evening
    NFT

    China’s WeChat Updates Policy To Ban Crypto, NFT-related Accounts

    By OlaJune 22, 20222 Mins Read
    Share
    Twitter WhatsApp Reddit Email Facebook LinkedIn

    WeChat, China’s biggest social media platform, has just announced a ban on all crypto and NFT-related accounts. The move is the latest example of China’s strict position when it comes to crypto.

    An image of a physical Bitcoin and padlock in front of the flag of China, where Crypto is highly regulated or banned
    As of now, WeChat accounts relating to crypto or NFTs will be considered illegal businesses. Credit: Marco Verch

    All about the WeChat crypto and NFT ban

    The Hong Kong-based crypto news reporter Colin Wu shared the updated policy on Twitter on Monday. In the tweet, Wu notes that public accounts on WeChat that involve “the issuance, trading and financing of crypto and NFTs” are subject to a ban. The reporter also highlights that WeChat, has an astounding 1.1 billion daily active users in China.

    To be clear, the Chinese government does not technically control WeChat or its policy on banning crypto and NFTs. However, it is subject to the stringent rules that Chinese companies must follow. Significantly, it must share data with the Chinese government under the China Internet Security Law and National Intelligence Law. As a result, many critics and observers of the Chinese government see WeChat as somewhat of a surveillance tool.

    To say that China has a strained relationship with crypto and NFTs is a huge understatement. Indeed, the country has gone out of its way to ban use of most global cryptocurrencies and NFT platforms in recent months.

    With all that said, China’s relationship to crypto isn’t exactly straightforward. As a matter of fact, the country has experimented both with NFTs and its own centralized digital currency. Evidently, the decentralized aspects of crypto are the main pain point as far as the Chinese government is concerned. Certainly, that’s what the crypto WeChat ban seems to suggest.


    Are you tired of missing important NFT drops?

    Check out our NFT Calendar!

    Receive the biggest NFT news of the day & recommendations in our Daily newsletter. 

    • All of our news is being sent daily on Telegram
    • We summarize the biggest news daily on Twitter & Instagram 
    • Learn with video tutorials and subscribe to our Youtube Channel 

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
    Ola

      Ola is a US-based writer and digital nomad. He loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.

      More great NFT Evening content:

      NFTs on Facebook: The Time Has Finally Come!

      July 1, 2022 NFT

      Coca-Cola Pride Collection: NFTs For LGBTQIA+ Organization OUT

      June 30, 2022 NFT

      NFT NYC Was The Top NFT Event Of 2022: Here’s What You Missed

      June 30, 2022 NFT

      NFT Market Prediction Says It Will Be Worth £84bn By 2028

      June 30, 2022 NFT
      Latests NFT News

      NFTs on Facebook: The Time Has Finally Come!

      July 1, 2022

      What is Doxxing? Why You Should Know What It Means To Be Doxxed

      July 1, 2022

      Doodles 2: Everything About The New Doodles NFT Collection

      July 1, 2022

      Coca-Cola Pride Collection: NFTs For LGBTQIA+ Organization OUT

      June 30, 2022



      • Follow @NFTevening


      By signing up, you agree to the our terms and our Privacy Policy agreement

      NFT evening is the biggest website for NFT news. We are dedicated to supporting mainstream NFT adoption by making content fun & accessible. Learn about NFT collectibles, NFT art and the best blockchain games that even let you earn free crypto! Whether you want to invest in NFTs, create NFTs or simply collect them, NFTevening is the first stop for all the NFT news you need!

      Facebook Twitter Instagram YouTube
      Article Categories
      • Blockchain games
      • Collectibles
      • Crypto Art
      • Guides
      • Interviews
      • Metaverse
      • NFT
      • Sponsored Content
      NFT Calendar
      • Today’s NFT Drops
      • Upcoming NFT Drops
      • Solana NFT Drops
      • NFT Calendar
      • NFT Calendar : Add Your NFT Event
      Get In Touch
      • Advertise (Media Kit)
      • Collaboration and Press Releases
      • Job Opportunities
      • About Us
      • Contact Us
      NFT Beginners Guides
      • How to Sell NFT Art
      • How to Create NFT Art
      • How to Display NFT Art
      • How To Make Passive Income With NFTs
      • Best Crypto Wallet
      • Best NFT Coins
      • Best NFT Rarity Tools
      • What is a DAO ?
      • What Are Crypto Gas Fees ?

      Type above and press Enter to search. Press Esc to cancel.