Chinese internet giant WeChat blocks NFT-related accounts to clean up crypto speculation


Source: elevenews.com elevenews.com

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- Several accounts connected to the non-fungible token ( ) marketplaces have been blocked by WeChat, China’s most popular social media platform. - The Chinese company has stepped up their efforts to control NFT-related material due to the government’s concerns about speculation. - Only compliant firms can advertise NFTs. Meanwhile, Tencent-owned NFT platform and Ant Group have updated their user agreements. Despite the fact that China’s government has taken a hands-off approach to NFTs, the social media giant WeChat has begun to ban the accounts of NFT platform operators in response to potential legislation. WeChat seizes accounts related to NFTs...