Chinese Social Media Giant WeChat Bans Crypto Transactions in Its Payment Policy

in #crypto • 5 years ago

News

Chinese social media giant and payment service provider WeChat banned cryptocurrency transactions in its payments policy. Dovey Wan, founding partner of crypto investment firm Primitive, tweeted the news on May 7.

The tweet contained a screenshot of the policy changes, which intimates that users who engage in cryptocurrency trading will have their accounts terminated.

Wan expressed concern that since most over-the-counter transactions are happening in WeChat, “this may impact local liquidity to quite some extent.” WeChat is a popular messaging and payments service provider in China, also featuring game integrations.

5 years ago in #crypto by
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