WeChat bans cryptocurrency transactions in its payment channels

WeChat has banned crypto trading and token issuance on its platform with violators facing account termination by months end. Commenters, like Binance CEO Changpeng 'CZ' Zhao, says WeChat most likely gave into pressure from China's communist government, which has banned crypto trading or services in the country. WeChat is one of the largest channels for OTC trading, opening up elbow room for competitors.

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