Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Sunday, July 6
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Cryptocurrency»China Clamps Down on Cryptocurrency-Related Social Media Accounts
    CHINA CLAMPS DOWN ON CRYPTOCURRENCY-RELATED SOCIAL MEDIA ACCOUNTS

    China Clamps Down on Cryptocurrency-Related Social Media Accounts

    0
    By Oluwasegun Olukotun on June 7, 2021 Cryptocurrency, Regulation

    China is cracking down on cryptocurrency-related social media accounts. Social media platforms like Weibo were blocked over the weekend as the country’s government steps up its clampdown on bitcoin trading and mining.

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

    In May, China’s State Council vowed to crack down on bitcoin mining and trading.

    China Crackdown Forces Crypto Mining Operators to Seize Operations

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

    “It’s a Judgment Day for crypto KOL”, wrote a Weibo bitcoin commentator, or key opinion leader (KOL), who calls herself “Woman Dr. bitcoin mini.” Her main account was also blocked on Saturday.

    NYU Law School adjunct professor Winston Ma, referring to the Tesla founder and cryptocurrency enthusiast said, “The government makes it clear that no Chinese version of Elon Musk can exist in the Chinese crypto market.”

    Ma, the author of the book “The Digital War”, also expects China’s Supreme Court to publish a judicial interpretation soon that may link crypto mining and trading businesses with China’s body of criminal law.

    The Weibo freeze comes as Chinese media have stepped up reporting against crypto trading.

    The stepped-up crackdown also comes as China’s central bank is accelerating the testing of its digital currency.

    Related

    China cryptocurrency social media
    Share. Facebook Twitter Pinterest LinkedIn Email
    Oluwasegun Olukotun

    Related Posts

    X is piloting a program that lets AI chatbots generate Community Notes

    Instagram x Spotify: Music Previews Now Live in Stories

    Eskom eyes bitcoin mining and data centres to offset declining electricity demand

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.