A slew of cryptorelated accounts in China's Twitterlike Weibo platform were blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining.
A slew of crypto-related accounts in China’s Twitter-like Weibo platform were blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining. More actions are expected, including linking illegal crypto activities in China more directly with the country’s criminal law, according to analysts and a financial regulator.
Last month, China’s State Council, or cabinet, vowed to crack down on bitcoin mining and trading, escalating a campaign against cryptocurrencies days after three industry bodies banned crypto-related financial and payment services.
Over the weekend, access to several of widely followed crypto-related Weibo accounts was denied, with a message saying each account ”violates laws and rules.” ”It’s a Judgment Day for crypto KOL”, wrote a Weibo bitcoin commentator, or key opinion leader (KOL), who calls herself ”Woman Dr. bitcoin mini.” Her main account was also blocked on Saturday.