Chinese government wipes out SNS accounts explaining crypto assets

Weibo , China's largest social network, has deleted 12 popular accounts that posted content about crypto assets. These accounts were reportedly notified when they were deleted with the message 'violating relevant laws and regulations'.

Weibo purges cryptocurrency accounts amid bitcoin volatility as Beijing continues its crypto crackdown | South China Morning Post
https://www.scmp.com/tech/tech-trends/article/3136242/weibo-purges-cryptocurrency-accounts-amid-bitcoin-volatility

On May 21, 2021, the State Council of the People's Republic of China's Financial Stability and Development Committee cracked down on Bitcoin mining and trading activities in the section 'Thorough prevention and management of financial risks' as a policy of monetary policy. We have set the goal of 'resolutely preventing the spread of individual risks to society.' China announced tightening regulations on crypto assets in 2013 and 2017, and from the view that the need for a large amount of electricity to mine crypto assets will hinder the Chinese government's environmental policy, 'This regulation Strengthening could lead to a total ban. '

Chinese government may ban Bitcoin mining & trading altogether-GIGAZINE

Then, on June 6, 2021, it was discovered that 12 popular cryptocurrency accounts were suddenly deleted from Weibo. The total number of followers of these accounts is said to reach about 5 million, and experts said, 'It is an account with the same influence as Elon Musk (known that his remarks have a great influence on the market). It is expressed as 'ta'.

Bitcoin has fallen 30% from its temporary peak, pointing out that the market is being swayed by Elon Musk's remarks --GIGAZINE

According to the South China Morning Post, a daily English newspaper in Hong Kong, the 12 accounts have in common that they 'mainly encouraged individual investors to invest in and trade crypto assets.' In March 2021, official accounts of major Chinese cryptocurrency exchanges such as Binance, Huobi, and OKEx were suspended one after another, so this case shows that the Chinese government has expanded the scope of deletion. That is the view.

One of the accounts that was deleted in this case commented from the newly created account, 'I'm happy with this. Sooner or later, it should have happened.'