WeChat bans Crypto Accounts: While efforts are being made to legalize cryptocurrency and digital assets around the world, a crackdown on Crypto is taking place in some countries.
China is also one of the countries in the world where the surveillance on Crypto has been tightened.
Tencent, the developer of the messaging app WeChat, has blocked all links to NFT’s public accounts on its application, in line with government policies. Tencent’s move is aimed at curbing the sale and purchase of old and risky NFTs via WeChat.
The NFT has not yet been officially listed as a digital asset in China. The company has banned access to WeChat accounts on NFT trading platforms, including ArtMeta, iBox, OneMeta, and other big names.
It should be noted that under Chinese law, the trade and mining of cryptocurrencies are strictly prohibited, however, there is ambiguity about the legal status of the NFT.