WeChat to Ban Crypto Media

There are a lot of popular crypto related accounts that are unavailable now
22 August 2018   740

WeChat messenger, developed by the Chinese technological giant Tencent, baned media accounts connected to blockchain and cryptocurrencies. This is reported by CoinDesk with reference to a local source.

Among the affected WeChat accounts there are: Jinse, supported by Node Capital, and Deepchain, which developed several crypto-currency funds at once. When you switch to these accounts, you receive a message stating that they are blocked "due to user complaints."  A similar message appears when switching to Huobi News and CoinDaily accounts.

Due to users' complaints and after the platform's examinations, the account is found to violate 'Temporary Regulations on the Development and Management of Public Information Services for Instant Messaging Tools' and all contents have been banned. The account has been prohibited for use.
 

WeChat Message

The reason for blocking WeChat accounts is still unknown. However, newly-enacted rules from China's government may have played a factor.

The users of instant messaging tools serving in public information service activities shall abide by relevant laws and regulations. For instant messaging service users who violate the agreement, the instant messaging service provider shall take measures such as warning, restriction, suspension, and closure until the account is closed, meanwhile saving the relevant records and fulfilling the obligation to report to the relevant authority.
 

The Temporary Regulations on the Development and Management of Public Information Services for Instant Messaging Tool

In March, the national publication People's Daily severely criticized Chinese news sources about the blockchain and crypto-currencies, arguing that they help to manipulate the market. 

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   122

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.