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June 9, 2021 2:46 PM PDT
Chinaâs crypto crackdown is going into overdrive. China arrested more than a thousand people for using crypto in money-laundering today. Meanwhile, Chinaâs most popular internet services, such as Weibo and Baidu, reportedly censored crypto exchanges commonly used by Chinese traders.Â
Typing in the names of exchanges like Huobi, Binance and OKEx failed to yield results on websites Weibo, Zhihu and Baidu. Itâs not a blanket crackdown: common crypto terms like bitcoin and ethereum did not seem to be blocked. But Chinaâs squeeze on the crypto industry is now operating on multiple fronts.
Last weekend, popular crypto accounts were suspended on Weiboâs social media platform.Â