Leading in China app for messaging WeChat, driven by technology giant Tencent, has updated its payment policy in order to prevent users to participate in transactions associated with cryptocurrencies.

In the updated Protocol, payment services messenger indicated that use its service WeChat Pay the sellers “may not participate in illegal activities such as sale of virtual currency or tokens issue, along with other prohibited areas for payments as pornography or online gambling games”.

WeChat payment new rules enter into force on 31 may, and the messenger declared that the accounts of offenders will be blocked. The new policy of the messenger can influence the-counter (OTC) cryptocurrency traders in China who Pay using WeChat as a channel for transactions in yuan. Previously, the payment application already demanded from the platform Huobi OTC remove it from the payment methods.

It is important to note that the new rules WeChat Pay addressed to the sellers, including account holders who have registered as a trading or corporate users, not individuals.

The head of the crypto currency exchange Binance Chanpen Zhao (Changpeng Zhao) on Twitter suggested that the change in the payment policy of the messenger “probably not a private choice” and noted that WeChat Pay “hard to beat”.

CZ Binance


This is a classic example of short term pain, long term gain.

It is inconvenient for people short term, and they take a hit. But long term, it is precisely this type of restriction of freedom that will push people to use crypto. Not a bad thing.

CZ Binance


Honestly, it would be hard to beat WeChat pay if they are relatively open. (The UX is good). But more and more restrictions are forced upon them (probably not their own choice). Go crypto!

Earlier, WeChat blocked the accounts of the media, who write about cryptocurrency and blockchain technology, as well as the official sales channel of the manufacturer of the ASIC miners Bitmain.

Message WeChat Pay strikes over-the-counter kriptoloji in China appeared first on crypto.by.