China Decided to Destroy the Country’s Cryptocurrency Trade Completely

The Chinese regulatory authorities have started deleting accounts in the social networks which are connected with the cryptocurrency trade, and continue to provide services for residents of China despite the ban of cryptocurrency exchanges in 2017.

According to the Caixin report, the authorities closed some exchange channels located on the popular in the country messenger WeChat.

The company which is the owner of WeChat denies any involvement of the authorities in blocking accounts, nevertheless Caixin managed to find out that the platform does delete accounts under the supervision of government bodies.

One of the examples was the deletion of the OKEX account, any links leading to this account are forwarded to the message with the following text:

“The platform may have violated relevant laws and regulations after being reviewed per users’ complaints. The account is currently blocked and content is not available.”

Trading cryptocurrency through messengers has gained popularity in the country after the People’s Bank of China banned any cryptocurrency trade, and all large cryptocurrency exchanges, including OKCoin, moved their cryptographic trading platforms beyond the state borders.

Then the Chinese authorities blocked access to the sites of cryptocurrency exchanges, nevertheless no one controlled trade through social networks, and OKEX and a number of other companies took advantage of it.

For example, Huobi.com, a cryptocurrency exchange operating in WeChat, is still functioning, but it remains unknown how long it will work for. Chinese regulators will continue blocking IP addresses associated with foreign platforms for trading cryptocurrency.

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