In early April, WeChat, China’s largest messaging application, has begun suspending an undetermined number of user accounts distributing second-hand blockchain services, reports revealed last week. The platform prohibits the secondary sales of non-fungible tokens (NFTs) and blockchain services due to their ‘speculative’ nature but confirmed it will not halt NFT integration on the application entirely. WeChat supports NFT sales through its Mini Programme, allowing certain accounts to showcase and sell blockchain goods first-hand. To provide blockchain services on WeChat, accounts must partner with a blockchain company already certificated by the CAC, reports found. As blockchain and NFT technology evolve, WeChat says it will continue to refine its rulings to best match the emerging marketplace.

Source: Libya Today April 06, 2022 19:49 UTC