China’s Weibo Bans 80 Crypto Influencers in Crackdown!

Writer: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

Sep 7, 2023 23:14

Chinese language social media big Weibo has banned the accounts of 80 cryptocurrency influencers as a part of its ongoing crackdown on crypto-related actions. The transfer comes simply weeks after China’s State Council introduced a clampdown on bitcoin mining and buying and selling, resulting in a pointy decline within the worth of main cryptocurrencies. Consultants recommend that the federal government’s marketing campaign towards digital currencies is a part of a wider effort to regulate monetary dangers within the nation. As of now, cryptocurrency-related content material, together with exchanges, preliminary coin choices (ICOs), and token gross sales, is prohibited on Weibo.