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China Shuts Down Blockchain News Accounts on WeChat App, Bans Hotels in Beijing From Hosting Cryptocurrency Events (scmp.com)

Posted by ryuzaki0 on from the further-crackdown dept.

China has shut down numerous blockchain-related news accounts on the WeChat social app, and banned hotels in downtown Beijing from hosting events promoting cryptocurrencies, in a renewed crackdown on activities related to the digital money. From a report: At least eight blockchain and cryptocurrency-focused online media outlets -- some of which raised several million dollars in venture capital -- found their official public accounts on WeChat blocked on Tuesday evening, due to violations against new regulations from China's top internet watchdog. Tencent, operator of WeChat, said in a statement that it has shut down these accounts permanently as they are "suspected of publishing information related to ICOs [initial coin offerings] and speculations on cryptocurrency trading." It cited regulations enacted earlier this month by the Cyberspace Administration of China, which, among other things, demand content providers within chat apps comply with "national interests" and "public orders."

7 of 33 comments (clear)

  1. Here we go by TheRealMindChild · · Score: 1

    Blah blah blah tulips anyone? No intrinsic value. Ponzi scheme. Down to 0. So much electricity waste!

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    "When life gives you lemons, don't make lemonade. Make life take the lemons back!" -- Cave Johnson
    1. Re:Here we go by Kaenneth · · Score: 2

      Slashdot is ironically full of Luddites.

      Metal Coins, Paper Money, Electronic bank balances all went through the same phases.

    2. Re:Here we go by TheRealMindChild · · Score: 1

      It adds to the discussion by heading off the dozens of comments that would have shown up saying the same crap. Now it is all wrapped up at the very top. Less BS to clutter up actual discussion. You're welcome.

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      "When life gives you lemons, don't make lemonade. Make life take the lemons back!" -- Cave Johnson
    3. Re:Here we go by Applehu+Akbar · · Score: 1

      A more effective way for China to get rid of cryptocurrency is to leave it alone and let it bubble and then crash. Not only will the crypto "threat" be eliminated, but there would be a lot of small new dams in rural areas that would now be useful to local communities.

  2. Beanie Babies by LtUoNXizqxawTj4ofx7t · · Score: 1

    Yes Bitcoin is worthless that's why they are banning it.

  3. mickey d's and kfc by nnet · · Score: 1

    Is that a weight prediction?

  4. Blah blah blah money laundering by rsilvergun · · Score: 1

    sounds like China's finally getting tired of it.

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