Weibo has blocked accounts associated with cryptocurrencies
Chinese microblogging giant Weibo has begun blocking digital currency accounts. Among the banned accounts, the crypto community found at least 30 popular bloggers with an audience of thousands.
China's fight against digital currencies continued on the social networks, moving to Weibo. 530M monthly active users are now at risk of being banned for the distribution of digital currency-related content. Popular bloggers were banned using the wording that they outraged the “Weibo Principles” and “relevant rules and regulations of the social network.”
As for the content within the blocked accounts, it was mainly an analysis of the cryptocurrency market, the promotion of various tokens, and posts about the most interesting decentralized projects. As a result, of the accounts that were banned, about 17 were already created under new names. One of the popular bloggers under the nickname Blockchain William has now changed his pseudonym to William Chen. At the moment, the number of its subscribers is over 30,000.
Winston Ma, a professor at the Law School of New York University and ex-director of the Chinese finance firm, said that the country's authorities intend to demonstrate that they will not put up with the “local version of Elon Musk” by such blocking. He clarified that this is a possible manipulation of market assets, which the Chinese government wants to control while trying to neutralize the harmful effects of mining on the environment.