Money

WeChat suspends accounts associated with NFTs, clarifying rules

Published

2 years ago

April 1, 2022

ticker NEWS

The company has reworked their rules surrounding the digital collectible.

China has not yet announced any clear rules around NFTs but has banned the trading of digital currencies within the country.

Normally, the tokens are bought with cryptocurrency but within China they are paid with the Chinese yuan allowing more regulation.

Some tech companies are therefore restricting secondary trading of NFTs to avoid any potential issues with the government.

WeChat clarified its rules surrounding the tokens through Weibo, a Twitter-like platform in China writing that official accounts can display NFTs but secondary sales are not allowed.

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