China WeChat suspends accounts that were linked with NFTs
To prevent speculation in digital assets, WeChat China has suspended some accounts associated with non-fungible tokens (NFTs). According to a search by the South China Morning Post, at least a dozen WeChat public accounts, among others, have been suspended during the last two weeks
WeChat [Photo credit: BBC]
Chinese social network WeChat, owned by Tencent Holdings, has more than 1.2 billion users. It has frozen multiple accounts that market digital collectibles, or non-fungible tokens (NFTs) as they are called in China. These tokens cannot be purchased or sold with cryptocurrency.
According to the platform, it has remediated accounts that were promoting NFT speculation, which can cause prices to rise. In China, there are no specific regulations against NFTs. Nevertheless, authori...