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Weibo Accounts of Major Chinese Crypto Exchanges Blocked, Raising Fears of Potential Ban

Chinese social media giant, Weibo blocked the official accounts of three major Crypto Exchanges, namely Huobi, Ouyi, and Binance on the 11th of March (today), raising fears of a potential clampdown on cryptocurrency, including a possible ban in some provinces. A while back, cryptomining was banned in the Inner Mongolia region after the region exceeded its allocated energy consumption.

All three companies have confirmed that their Weibo accounts have been blocked without any prior notice. The social media platform has cited the violation of the “Weibo Community Convention” as the reason for the ban, though as you can guess, it’s an automated response. The Weibo Community Convention defines the following types of behavior and information as violations:

Harmful information on current affairs, illegal information, inaccurate information, infringement of others’ personal rights and intellectual property rights, fraudulent information, illegal marketing information, cheating behavior, and spamming.

Source (Via)



Areej

Entrepreneur, tech-analyst, PC gamer, and hardware enthusiast. Former co-founder of Techquila (2017-2019), a fairly successful tech outlet. Been working on Hardware Times since then, an outlet dedicated to computer hardware and its applications.
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