Chinese instant messaging application WeChat blocked a Bitmain account in which the company promoted the sale of Bitcoin (BTC) mining equipment. The information emerged online yesterday, September 10th, after some users noticed that the Bitmain channel in WeChat appeared as banned due to the WeChat terms and conditions.
“As a result of user complaints, the platform has reviewed and discovered that this account (Bitmain), without credentials or authorized licenses, has been publishing and distributing information from the relevant companies in which it participates,” said Tencent, the owner of WeChat.
They did not specify what kind of information Bitmain disclosed would have violated the WeChat’s rules, but everything indicates that it was something related to the promotion of Bitmain’s Antminer equipment.
The Bitmain account on WeChat suspended due to an allegedly Bitcoin (BTC) mining equipment promotion
Tencent, on the other hand, took that decision in line with its new terms and conditions and the guidelines released in August by the Chinese officials, which aim to block the posts related to cryptocurrency on Chinese instant messaging platforms. Since the measure came into force on August 21st, Tencent blocked more than 30 accounts owned by companies linked to cryptocurrencies.
According to the statement issued by the Chinese consortium for that date, these accounts were disseminating information on Initial Coin Offerings (ICOs) and cryptocurrencies market, in general, violating the recently-adopted rules, that additionally to the China’s regulations adopted in 2017 that forbid the promotion for crypto-related activities, including Bitcoin (BTC) mining.
This is a series of actions that are being taken in this Asian country, increasing the prohibitions against crypto companies and the cryptocurrencies market, to which other Chinese telecommunications companies are joining. Such is the case of AntFinancial, the subsidiary of Alibaba, which is now free to restrict or suspend transactions with cryptocurrencies if it considers that they involve suspicious operations.
At the time of writing, Bitmain Bitcoin (BTC) mining equipment manufacturer, which is currently preparing its Initial Public Offering (IPO), had not pronounced itself on the suspension of its WeChat account.