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Crypto News: WeChat Censors Crypto Trading And Activities On Messaging Platform

According to the latest crypto news update, WeChat has begun censoring accounts related to crypto trading and exchanges including Bitmain and online price prediction accounts. Without having acquired authorized credentials or licenses one of the main reason for censoring down on crypto related activities and accounts on the messaging platform is because of the harm that might affect the financial wellbeing of its people. The WeChat app is at present targeting those that allocate content for sales of bitcoin miners and cryptocurrency marketplace investigation.

WeChat’s parent company Tencent and a famous tool in China, meanwhile, has also cracked down on crypto-related activities It has moved to block accounts that are complicated in providing info related to crypto market predictions. Recently, one user who functions an official account called ‘Goldcoins’ that had been posting crypto market analysis for the past nine months, that the feed has been shut down on WeChat.

Adding further to this latest crypto news, Goldcoins wasn’t the only target of the WeChat cracked down. Blockchain startup Delphy, for instance, had their authorized WeChat account banned. Delphy is an Ethereum-based application that works in a similar way to Augur. It comes as no surprise that WeChat is censoring people on its platform which is in tandem with the government’s orders to ban all crypto trading and ICOs. In total so far 30 official accounts relating to blockchain and cryptocurrency have been banned by the WeChat, as reported by CoinDesk.

Privacy has always been great security concerns for most people and so crypto trading activities and traders in the country have chosen new methods to avoid the constant scrutiny and restricted internet access to foreign-based crypto exchanges that has been basically banned by the government. As per the latest Etherum World News, individuals are now using a virtual private network that is helping them to encrypt data and their online privacy. These crypto traders have been continuous using VPNs (Virtual Private Networks) outside the reach of the Chinese borders and authorities, as stated in the latest crypto news.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

As a professional blogger and news writer, Akshada presents unique pieces that are logical, well-structured and appealing to the audience.

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