Blockchain News Accounts Blocked By Chinese Messaging App WeChat

News | August 22, 2018 By:

Chinese messaging app WeChat has blocked a number of blockchain-related news accounts on its platform.

WeChat, developed by Tencent, is one of the world’s largest standalone mobile apps by monthly active users, with over 1 billion monthly active users. It has been called China’s “app for everything” and a “super app” because of its wide range of functions and platforms. It provides text messaging, hold-to-talk voice messaging, broadcast (one-to-many) messaging, video calls and conferencing, video games, sharing of photographs and videos, and location sharing.

Sg.news reported that at least eight blockchain and crypto-focused online media outlets – some of which had already raised millions of dollars in venture capital for their blockchain projects – found their official public accounts on WeChat blocked on Tuesday.

In a statement, Tencent confirmed that WeChat has shut down numerous accounts as they are “suspected of publishing information related to initial coin offerings (ICO) and speculations on cryptocurrency trading.” Tencent cited regulations enacted earlier this month by the Cyberspace Administration of China, which demand content providers within chat apps comply with “national interests” and “public orders.”

Deepchain, Huobi News, Node Capital-backed Jinse, and CoinDaily are among those who have been affected. Huobi, one of the world largest crypto exchanges, acknowledged the shutdown of its news account, stating that it was “broad action targeting industrial media.”

In March of this year, the People’s Daily, the mouthpiece of the Communist Party of China, criticized blockchain and crypto-related media outlets in the country and claimed that these media outlets were helping manipulate the crypto market.

“These media outlets have made huge fortune in the speculative waves of cryptocurrencies, but due to their nature, it’s doubtful how long their barbaric growth can keep on going,” the People’s Daily said at the time.