China shuts down media that spread news about cryptocurrencies via WeChat

The Chinese government has ordered Tencent to shut down the WeChat accounts of media outlets that provided information about cryptocurrencies. According to Tencent, it was about informing the public about ICOs and the Chinese government doesn’t want that.

Some of the accounts had already received millions of dollars from investors to further develop their services, SCMP reports. In addition, the Chinese government has ordered hotels in Beijing to stop facilitating crypto-related events.

Closing the accounts is in line with the Chinese government’s policy to tackle ICOs. Earlier this year, the Chinese site People’s Daily, which according to SCMP is a mouthpiece of the communist party in power in China, already accused the accounts of influencing the price of cryptocurrencies for their own gain and manipulating the public into joining in. to icons.

Tackling cryptocurrencies started last September when the Chinese government banned further ICOs. At ICOs, organizations issue crypto tokens, usually to fund projects.