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China blocks social media content related to cryptocurrency

by News Desk
June 7, 2021
in New, Social Media, Technology, World
Reading Time: 1 min read
Cryptocurrency
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A slew of crypto-related accounts in China’s Twitter-like Weibo platform was blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining.

More actions are expected, including linking illegal crypto activities in China more directly with the country’s criminal law, according to analysts and a financial regulator.

Last month, China’s State Council, or cabinet, vowed to crack down on bitcoin mining and trading, escalating a campaign against cryptocurrencies days after three industry bodies banned crypto-related financial and payment services.

Over the weekend, access to several of widely followed crypto-related Weibo accounts was denied, with a message saying each account “violates laws and rules.”

Tags: BeijingBitCoinChinaCriminal lawCryptocurrencyRules and RegulationsTwitterWeibo
News Desk

News Desk

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