Weibo Blocks 80 Crypto Influencer Accounts, Cites Regulation Breaches

China’s crackdown on cryptocurrency activity continues as the 80 influencer accounts on Weibo were shut down.

In an announcement released on Weibo’s page last night, the platform revealed that the accounts were “proactively removed”. Weibo stated that the accounts, which had a combined 8 million total followers, had breached regulations related to telecommunications, finance, banking, online marketing, securities, exchanges, and internet safety by promoting cryptocurrencies.

This is not the first time that Weibo has taken action against cryptocurrency-related accounts on their platform.

Since the Chinese government’s cryptocurrency ban took effect in September 2021, Weibo has periodically cleared out accounts that have promoted cryptocurrencies and stock trading. Earlier this year, the platform removed 131 such accounts. Even prominent internationally-known profiles have been targetted, with Justin Sun’s Weibo account being blocked in August of 2021.