Following Alibaba and Tencent, Baidu Tieba, a popular Chinese search platform, is introducing censorship on cryptocurrency topics.
The past week was again full of cryptocurrency bans and blockings in the country. Regulatory agencies in China have issued another warning about the ban on attracting Chinese investments through online communication channels for foreign cryptocurrency projects and trading on foreign crypto platforms. Two Chinese IT giants, Alibaba and Tencent, have introduced restrictions on cryptocurrency transactions on their services to prevent violations of the law and connections with over-the-counter trading of crypto assets.
Now it’s the turn of the Internet giant Baidu to demonstrate its law-abiding nature. The popular communication platform Baidu Tieba, an analogue of the popular Reddit, is introducing a complete ban on discussing topics related to cryptocurrency. Any searches or creation of sub-forums on the topic of digital currency is prohibited by law, regulations and company policies. The Chinese search engine Baidu is depriving more than 300 million of its active business forum users from discussing news about the cryptocurrency market and ICOs. It is noteworthy that search queries for “cryptocurrency” or “digital currency” are blocked, but search results for the topics “bitcoin”, “etherium” and “bitcoin mining” are still available. It is not yet known how long it will last.
The company has not officially commented on the introduction of censorship on cryptocurrency topics; it only noted that it intends to conduct business in accordance with the laws of China. The ban on subforums is due to the same reasons as the blocking of accounts on the WeChat media platform.
The Chinese government continues its witch hunt as part of the announced war on cryptocurrency.
Regulators are issuing prohibiting directives, trying to stop the use of decentralized and unregulated cryptocurrency in the country by all available means. It seems that the Chinese government intends not only to close all cryptocurrency operations in the country, but also to prohibit its citizens from speaking publicly about it.
You May Also Like
The IMF again criticized the legalization of Bitcoin in El Salvador
In the report, El Salvador: 2021 Article IV Mission Staff Final Statement, the IMF praised El Salvador's efforts to promote "financial inclusion and growth" but criticized the tool the country's government is using to achieve this goal.
Redistribution of zones of influence on South Korean crypto exchanges
In September, the South Korean government introduced harsh measures against crypto exchanges. The “bloody massacre” led to the fact that out of several dozen sites, less than ten remained afloat. Between the survivors, something began that can be compared to the times of the 90s, through which the business of post-Soviet countries went through.
