WeChat has proscribed all cryptocurrency and non-fungible tokens (NFT) activities.
Violating accounts will need to rectify within a time frame until the ultimate ban.
The cryptocurrency market is currently on a relief rally, recovering by almost 15% in the last 24 hours.
WeChat, a Chinese instant messaging app, in recent terms of use update, proscribed all activities related to cryptocurrency and non-fungible tokens (NFT). Its rules of conduct highlighted four critical components of virtual currency activities that WeChat public accounts must shun.
Article 3.24.1 outlawed transactions and exchanges between virtual and real currency, virtual currency, and virtual currency. Meanwhile, Article 3.24.2 outlawed providing information intermediary and pricing services for virtual currency transactions. Finally, Article 3.24.3 outlawed token issuance financing and virtual currency derivatives trading.
To capture NFTs, they said accounts that provide services or content related to the...
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