WeChat Suspended NFT accounts in China
To stop speculation of digital assets, WeChat has suspended a few accounts which were linked to NFTs. WeChat is a popular Chinese messaging app. WeChat , which is owned by technology firm Tencent, said in a statement that it has fixed some accounts and programs due to the hazard of speculation of digital collection. There are no rules or regulations for NFTs in China. However, Mining, buying and selling of cryptocurrencies is banned in the country.
The Chinese technology industry is going through a time of strict measures and those sectors which are coming under the radar are the gaming zones, social media contributors, online financial facilitators. Although buying and selling of NFT assets is not banned in China, the technology on which digital assets are built is managed by the Chinese capital Beijing. As per rules, NFTs cannot be traded in cryptocurrencies. They can only be sold and purchased in local currency, Yuan.
Jasia Junaid is a professional and experienced content writer working with NFT News. She is also working at other International companies. Jasia has remained a former article writer at Saakin real estate, foodytechy and scholarly net. With a great command over several niches, Jasia took a dive into the world of NFTs and proudly takes part in bringing up the latest authentic news on cryptocurrency, metaverse, and blockchain alot more at NFT News. In her spare time, she tries to read and organize more information related to on-going crypto trends around the world, do light blogging and surf the internet around.
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