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Chinese social network Weibo has blocked the accounts of Binance and Tron

Chinese social network Weibo has blocked the accounts of Binance and Tron

The Chinese social network Weibo has blocked the accounts of the cryptocurrency exchange Binance and the company Tron, considering that they violate the laws and requirements of the Weibo community.

All materials published by Tron and Binance, as well as information about the number of their subscribers, were removed from the social network. At the same time, Weibo did not specify how the companies violated the law, and did not provide links to materials that could violate the rules of the social network.

In February last year, Weibo announced that it does not allow ads for products or companies related to cryptocurrencies to protect its users from scammers.

Chinese media make various assumptions to explain this situation. Some believe that Weibo simply tightened censorship and “rules of conduct” in the community. Others are of the opinion that the blocking of the Binance account could be affected by the launch of a payment gateway for transactions with Fiat currencies via WeChat and Alipay.

This month, the Binance exchange opened a gateway through the AdvCash payment system for entering and withdrawing rubles from credit cards, and also announced its intention to add support for all 180 Fiat currencies in the world.