Wechat bans crypto for merchants
Published On : 2019-05-08 11:05:59
Asian messaging application WeChat will prevent dealing with cryptocurrencies for merchants.
Late April, the company released a new policy for merchants that clearly forbids them from dealing in digital assets, like bitcoin and ethereum.
A few (translated) new policies:
“In the course of making payment transactions, you should strictly abide by the policies and regulations related to the online banking business and credit card transactions of the People’s Bank of China,” says the new policy.
“You may not directly or covertly engage with… token issuing financing and virtual currency trading platforms.”
This takes effect on May 31 and, on first sight, only applies to merchants.