In a follow up to events from earlier today, when Binance saw it’s own account banned from the Weibo platform, it seems now TRON has also been taken offline for “violation of law and regulation,” which is the same wording from the Binance judgment.
The story was originally broken on Twitter by Dovey Wan (@DoveyWan), who is known for relaying breaking news from China. Details at this time are sparse at best, but this does seem to be part of a larger crackdown on cryptocurrency platforms.
🍿️🍿️🍿️
👀👀👀 TRON WEIBO ACCOUNT IS OFFICIALLY BANNED
Another case in point don’t over read the Chinese “Blockchain NOT crypto” narrative
TRON’s Weibo account (Chinese Twitter) is now shut down due to “violation of law and regulation” .. pic.twitter.com/IJpN4yJyRA
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) November 15, 2019
Weibo is a popular social media platform akin to Twitter but used almost exclusively by Chinese language speakers. For now, it seems that these two companies are the only ones to be banned, and Wan has noted it is odd how many similar accounts remain active. It is possible that more bans are on the way.
In addition to this @binance Weibo is also shut down around the same time. @cz_binance @heyibinance @justinsuntron personal Weibo accounts are all good
However, Huobi, Okex, NEO and Ontology’s company Weibo accounts are intact
🤔🤔 there is a clear wall here it seems like https://t.co/PkkfcY61yW
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) November 15, 2019
Being banned from the platform could come not only as a blow to TRON’s image but also foreshadow more actions to come from the government. Lately, China has been keen on being proactive about blockchain technology, as BeInCrypto has previously reported. This could be part of a larger move to thwart opposition in anticipation of their own planned digital currency.
This news also comes on the heels of a hot streak for TRON, seeing as the company has been announcing some pretty big news as of late. Not the least of which is a partnership with Poloniex that has been largely hyped, and the inevitable announcements of announcements that Sun is so known for:
Hopefully, this isn’t the beginning of a larger crackdown on cryptocurrency platforms in China, but if it is, we can likely expect to see some more bans coming soon. Presumably, any decentralized platform that offers cryptocurrency trading services could end up in the crosshairs. For now, there isn’t enough information to be sure what prompted this move, so we will just have to watch the situation carefully.
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