China’s Largest Search Website Tightens Stance on Crypto Content

Aug 28, 2018 at 23:32

Baidu, China’s largest online search website, has reportedly enforced stricter regulations on all crypto related content in its portal.

According to local news outlet China Times, the company even plans to restrict or place an outright ban on all crypto related topics on Baidu Tieba, the website’s online forum service that works like Reddit.

Baidu headquarters – nipic.com

“Currently, the company has toughened its scrutiny over digital currency and will not allow sub-forums under this theme, based on relevant rules and regulations,” the news report explained.

A company representative who requested anonymity told the news organization that the closure of some subforums may be due to the fact that such topics are related to initial coin offerings and crypto trading—acts that are currently banned in China.

Launched in 2003, Baidu Tieba is considered to be the largest online forum community for Chinese internet users with an estimated 300 million monthly active users.

Earlier, another major Chinese conglomerate, Alibaba, has moved to suspend accounts using Alipay, their mobile payment applications that conduct over-the-counter trading of cryptocurrencies.

Likewise, Chinese payment gateway, WeChat Pay also released a statement last week prohibiting users from sending or receiving funds related to cryptocurrencies on its social media platform.