Cryptocurrency exchange Binance’s official Weibo account (a Chinese microblogging website similar to Twitter) has been blocked.
The exchange’s Weibo page now reads: “The account has been blocked due to violations of laws and regulations and the relevant provisions of the Weibo Community Convention.”
All content, including the number of followers, has been removed from the page. It is not clear specifically why the account has been suspended. The Block has reached out to Binance for a comment and will update this story if they reply.
China Times reported Friday that the suspension could be subject to “more stringent penalties,” citing some insiders. It also said that Binance’s upcoming launch of fiat gateways via WeChat and Alipay could also be the reason for the account blockage.
Last month, Binance announced that it is going to allow Chinese users to buy bitcoin through WeChat and Alipay channels. People familiar with the matter told The Block at the time that the initiative is currently in a testing phase for Android users and will eventually be fully rolled out on iOS and Web.
Notably, the Tron Foundation’s Weibo account has been blocked too. The Block has reached out to the foundation for a comment and will update this story if they reply.