Chinese companies are starting to take action against cryptocurrency entities.
WeChat censors Huobi and Binance searches
Leading Chinese messaging platform WeChat has reportedly censored searches for crypto exchanges Binance and Huobi. According to CoinDesk, searches in Chinese and English for “Binance” and “Huobi” are returned with a message saying “No more results.”
This latest development means that Chinese citizens can no longer get information about Binance and Huobi from WeChat. The move doesn’t come as a surprise as social media platform Weibo and search engine Baidu began blocking searches for Binance, Huobi and OKEx in June.
WeChat is currently China’s largest messaging platform and a key tool for broadcasting news and information.
PBoC’s ban is making it tougher for crypto companies
WeChat’s censorship comes following the ban on cryptocurrencies by the People’s Bank of China (PBoC). Last month, the PBoC announced that all services that allow fiat currencies to be exchanged with crypto assets or between crypto-assets themselves will now be treated as illegal activities.
Huobi has already suspended all its services to its mainland China users following the recent ban. Yesterday, Binance said it would delist the Chinese yuan (CNY) from its peer-to-peer trading platform on December 31.