{"id":6301,"date":"2022-08-10T22:48:06","date_gmt":"2022-08-10T22:48:06","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=6301"},"modified":"2022-08-10T22:48:07","modified_gmt":"2022-08-10T22:48:07","slug":"report-nearly-13000-chinese-social-media-accounts-promoting-virtual-currency-closed","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=6301","title":{"rendered":"Report: Nearly 13,000 Chinese Social Media Accounts Promoting Virtual Currency Closed"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>Nearly 13,000 Chinese social media accounts that allegedly promoted virtual currency investments were closed, the Cyberspace Administration of China recently revealed. In addition, some 51,000 social media posts with content relating to the marketing or promotion of investments in virtual currencies were removed.<\/strong><\/p>\n<h2>105 Websites Shut Down<\/h2>\n<p>A Chinese regulator, the Cyberspace Administration of China (CAC) reportedly said 12,000 \u201cillegal user accounts\u201d on Weibo and Baidu that promoted virtual currency investment have been closed. A further 989 Weibo, Tieba, and Wechat public accounts that encouraged internet users to invest in virtual currencies including bitcoin, were also closed as per the law.<\/p>\n<p>At the same time, 51,000 social media posts whose content promoted investments in virtual currencies were removed. In addition, the CAC is also reported to have \u201cshut down 105 website platforms such as \u2018Bi Toutiao\u2019 which specifically advocates for virtual currency marketing and publishes tutorials explaining cross-border currency speculation and virtual currency mining.\u201d<\/p>\n<p>According to a report on a Chinese-language website, the CAC and other agencies\u2019 crackdown on virtual currency investing activities is in line with the decisions of the Communist Party.<\/p>\n<h2>More Businesses Targeted<\/h2>\n<p>The report also revealed that a local network information department has since been tasked with probing 500 business entities that are \u201cinvolved in the promotion and speculation of virtual currency.\u201d The department has similarly been asked to remove content relating to virtual currency speculation.<\/p>\n<p>In a warning to Chinese internet users, the CAC said they first need to establish the right investment concept as well as avoid participating in speculative trading. Internet users also need to \u201cguard against personal property damage.\u201d<\/p>\n<p><em><strong>What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n<p>Terence Zimwara <\/p>\n<p class=\"article__body__author__info__about\">\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.<\/p>\n<p><i class=\"td-icon-font td-icon-linkedin\"\/><\/p>\n<p><i class=\"td-icon-font td-icon-twitter\"\/><\/p>\n<p><i class=\"td-icon-font td-icon-telegram\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons, M-SUR \/ Shutterstock.com<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/report-nearly-13000-chinese-social-media-accounts-promoting-virtual-currency-closed\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly 13,000 Chinese social media accounts that allegedly promoted virtual currency investments were closed, the Cyberspace Administration of China recently revealed. In addition, some 51,000 social media posts with content relating to the marketing or promotion of investments in virtual currencies were removed. 105 Websites Shut Down A Chinese regulator, the Cyberspace Administration of China [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-6301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6301"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6301\/revisions"}],"predecessor-version":[{"id":6303,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6301\/revisions\/6303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/6302"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}