China blocks cryptocurrency Weibo accounts in ‘judgment day’ for bitcoin

Several popular accounts on Twitter-like service are closed down, displaying message saying account ‘violates laws and rules’

China has stepped up its crackdown on bitcoin trading and mining, blocking a slew of cryptocurrency-related accounts on the Twitter-like Weibo platform over the weekend.

More actions are expected, including linking illegal crypto activities in China more directly with the country’s criminal law, according to analysts and a financial regulator.

Last month, China’s state council, or cabinet, vowed to crack down on bitcoin mining and trading, escalating a campaign against cryptocurrencies days after three industry bodies banned cryptocurrency-based financial and payment services.

Over the weekend, access to several widely followed crypto-related Weibo accounts was denied, with a message saying each account “violates laws and rules”.

“It’s a Judgment Day for crypto KOL,” wrote a Weibo bitcoin commentator, or key opinion leader (KOL), who calls herself “Woman Dr. bitcoin mini”. Her main account was also blocked on Saturday.

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