“Chinese Twitter” Blocks Binance’s Official Account

China’s microblogging website Weibo, often referred to as “Chinese Twitter” has blocked Binance’s official account.

On Nov. 15 The China Times reported that Binance’s account was blocked purportedly due to violations of the site’s policies.

All content, including Binance’s posts and the number of followers, is currently unavailable as Binance’s Weibo page is blocked. It features a notice that the account has violated provisions of the Weibo Community Convention.

Stringent Penalties For Blockchain Industry in China Could Be The Reason

The stringent penalties for the Blockchain industry in China could be the reason for the account closure. Moreover, Binance recently launched new fiat gateways in China.

Zhu Hongbing, chairman of Singapore Blockchain Technology Foundation adds that Binance’s suspension on Weibo is primarily connected with its initiative to accept fiat currencies through China’s payment giants Alipay and WeChat.

The CEO of Binance, Changpeng Zhao (CZ) confirmed that Binance has started accepting fiat via Alipay and WeChat on Oct. 9.

Tron’s Weibo Account Also Blocked, While Huobi and OKEx Operational

The Tron Foundation has also had its Weibo account blocked. Meanwhile, the accounts of popular crypto exchanges Huobi and OKEx are still available at press time.

Earlier, China’s President, Xi Jinping, called for the country to accelerate its adoption of blockchain technologies as a core for innovation. Xi made the comments at a Politburo Committee Session on blockchain technology trends on October 24.

Source: CHINA TIMES | Cointelegraph

#regulations #weibo #china #Binance #cryptoexchange

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