WeChat: China’s popular WeChat messaging app has temporarily suspended some accounts connected to non-compliant tokens (NFTs). In order to prevent speculation on digital assets.
The court said it had “adjusted” the accounts. That it found to promote NFT market speculation, which could help raise prices.
There are no laws against NFTs in China, although trading of cryptocurrencies was banned last year.
NFTs can be bought and sold in China just like any other part of a building.
However, they do not have their own portable type, and experts have warned of market risks.
The forum said it had “recently rallied and adjusted public accounts and smaller estimates and second-hand sales of digital collections”.
To prevent the risk of speculation about trading in real money”.
Chinese tech giant Tencent, owner of WeChat, declined to comment further when contacted by the BBC.
The industry has seen a large number of legal action against it since last year. Including harassment of ecommerce firms, online financial services, social media platforms. Gaming companies, cloud computing providers, boarding services and cryptocurrency miners and trading.
Even after all the steps, the trading of NFTs is still illegal in China.
NFTs in local currency
“One property” sold for thousands – even millions – of dollars.
WeChat offers many features such as Snapchat such as text messaging. Voice chat messaging, streaming (from one to many) messages. Video and conference calls, video games, photo and video sharing, and location sharing. WeChat also allows users to exchange contacts with nearby people via Bluetooth. As well as provide a variety of communication features wherever they wish (when people are open). It can also integrate with other communication services such as Facebook and Tencent QQ.
Instant messaging methods
WeChat supports a variety of instant messaging methods, including text messaging, voice messaging, walkie talkie, and stickers. Users can send previously saved or live photos and videos. Profiles of other users, coupons, fortune-telling packages, or current GPS locations with friends either individually or in group chat. WeChat character stickers, like Tuzki, are similar to those of LINE, a Japanese-South Korean messaging app.
WeChat also provides a message recall feature. To allow users to recall and extract information (e.g. photos, documents) sent within 2 minutes of a conversation. In the menu that appears ‘remember’ and ‘OK’ to complete the withdrawal process.