WeChat Has Blocked Access To NFT Vendors

WeChat has blocked access to NFT vendors. Chinese social media platform WeChat has blocked accounts of NFT marketplaces. Saying that it aims to prevent crypto speculation, the platform has blocked access to more than a dozen accounts. Accounts logging into WeChat encounter the following message: "There is no legal permission or license to post, disseminate or engage in such work." Of course, a statement came from the company on the subject. The statement states that only compliant companies are allowed to run NFT-related applications and create official company accounts. To be compliant, companies must be registered with the China Cyberspace Administration and not allow resales. In China, where activities related to cryptocurrencies are prohibited, there is no such situation yet for NFTs. At the same time, we can say that there is a great interest in NFTs in the country. Investors continue to use the resale markets to speculate on assets, despite strong warnings from the government.