Search ForexCrunch
  • The popular Chinese messenger service updated its payment guidelines against cryptocurrencies.
  • Last year they already took action with restrictions in line with the government’s measures.

 

Popular Chinese social media messenger service WeChat updated their payment guideline, which rules against Bitcoin and other cryptocurrency activities.

WeChat published their payment guidelines, of which they banned merchant accounts taking part in Bitcoin trading. Accounts that flout the rules by issuing tokens or even raising funds on crypto trading transactions will be shut down.

As a recap, last year WeChat rolled out several restrictions which prevented users from leveraging a Bitcoin wallet and other cryptocurrency activities. The restrictions and the ultimate ban are inline with the overall Chinese government policy of clampdown against cryptocurrency activities.