China is blocking cryptocurrency exchange accounts in social networks

China is blocking cryptocurrency exchange accounts in social networks

According to local newspaper, the Chinese regulators to block the account cryptocurrency exchangers and exchanges in social networks.

According to Caixin, the authorities shut down some channels of exchange and exchanges on the most popular Chinese platform WeChat.

As an example, a locked account is an account in WeChat OKEx, and links to all previous published in this channel information can now only show the notification, which reads as follows:

This channel may have violated certain laws and have been locked in the check result of several complaints we received from users. Currently, this account is locked and content unavailable.

WeChat denied the intervention of regulators, but according to Caixin’s WeChat actions are the result of increasing pressure on cryptocurrency platform by the Chinese government.

After in September the national Bank of China announced a ban on the cryptocurrency exchanges in the country, OKCoin, once one of the largest cryptocurrency exchanges, was forced to move their activities abroad.

Since Chinese citizens still had access to the platform, WeChat has become one of the main channels of communication with Chinese users. another major former Chinese exchange, which was also forced to move abroad, still present in WeChat.

Caixin added that regulators also urge the law enforcement authorities for the purpose of blocking IP addresses from foreign cryptocurrency exchanges.

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