China’s Thundering Strike to the Crypto-Tron and Binance Banned on Weibo

China's Thundering Strike to the Crypto-Tron and Binance Banned on Weibo

  • The biggest social media network in China- Weibo witnesses the ban of the official account of the Tron Foundation, in accordance with Dovey Wan of Primitive Ventures.
  • Huobi and OKEx, Chinese based popular exchanges are still accelerating and rising up with a remarkable escalation.
  • The statement attracted a huge mass as despite China had banned cryptocurrency in 2017, it is looking up to apply it for the overall development.

The biggest social media network in China- Weibo witnesses the ban of the official account of the Tron Foundation, in accordance with Dovey Wan of Primitive Ventures. The network has more than 400 million active users on a monthly basis. This was just after Binance, the top exchange in the world, was banned officially.

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Huobi and OKEx, Chinese based popular exchanges are still accelerating and rising up with a remarkable escalation.

Weibo keeps his stand by stating that violation of rules was the basic factor for the ban. However, the account suspension was not supported by any concrete reason to rely upon.

Wan also said that this highlights the strategy of China in embracing blockchain wholeheartedly but at the same time keeping bitcoins aside. The mindset seems to be clear that it is focusing on eliminations of other platforms and cryptocurrencies and diligently working on coming up with its own features so that it’s economy- the 2nd largest economy of the globe does not benefit any country across the border and bring tremendous fortune inside the border.

Banning such giants has become a good way to eliminate competition. China had been the focus of the digital currency world since the Chinese president Xi Jinping gave the statement about embracing blockchain officially. Since then there had been many rumors and it had become the center of the debate. The statement attracted a huge mass as despite China had banned cryptocurrency in 2017, it is looking up to apply it for the overall development.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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