WeChat banned accounts linked to NFTs

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10.4.2022 | WeChat banned accounts linked to NFTs

China's popular WeChat messaging app has suspended some accounts linked to non-fungible tokens (NFTs), to prevent speculation in the digital assets.

The platform says it has "rectified" accounts which it found to be promoting NFT market speculation, that can help to drive up prices.

There are currently no specific regulations against NFTs in China. However, the mining and trading of cryptocurrencies was banned by authorities last year. On 31st of May, WeChat responded to local media reports that the accounts had been banned.

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