China has been going hard on the crypto industry. While the country began laying all its focus on the development of its central bank digital currency [CBDC], the digital yuan, it slowly started sidelining the crypto-verse. The Chinese government took down an array of crypto platforms operating in the country. Now, prominent social media platform Weibo went on to block over 10 accounts that were related to crypto.
Social media has a massive impact on the lives of people. China seemed to be well aware of this and therefore it made sure to eliminate crypto from influencing its citizens.
Prominent crypto journalist, Colin Wu revealed the same through Twitter. Initially, Wu noted that the founder of the Tron Foundation, Justin Sun’s Weibo account was blocked. This was then followed by another tweet which read,
“China Weibo has launched a new round of banned accounts. In addition to Justin Sun, more than 10 accounts involving cryptocurrencies with a total of millions of followers have been blocked.”
China continues to block crypto-related accounts
While this is the country’s latest move, it had banned the popular crypto exchange, Binance back in July this year. The Asian country went on to abruptly ban the platform. The mobile app, as well as the website, became inaccessible to Chinese citizens.
Back in July, Wu shared a tweet noting that several users in Beijing were unable to access the exchange’s website as the Binance APP was blocked in the country. This further required users to use a VPN to log into their accounts. However, this was later shunned off as Binance noted that it was due to technical issues and the exchange had solved the block situation.
The crypto mining situation in the country took several hits. An array of mining platforms had to exit the region in order to survive. The latest news from the country proved that China was going full hostile on crypto.