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Aug. 27, 2018

The news recently coming from China show the conflict escalation between the cryptocurrency community and the state. The community is losing or almost losing. Baidu, the Chinese analog of Google joined the recent censor movement and deleted from its forum Baidu Tieba, the topics where the cryptocurrency-related businesses were discussed. Following the earlier example of WeChat, Baidu deprived the Chinese citizens of another legal platform they were using to keep in touch with the crypto world. Now, the links that were earlier leading to the forum discussions "digital currency" and "virtual currency" are not available, and the search for these keywords leads to a page with the message that "the forum is temporarily closed due to relevant laws, rules and policies."

A representative of Baidu Tieba in the interview with Coindesk hinted that these sub-forums were suspected of disseminating information about ICO and speculation with cryptocurrencies.

However, other discussions with the topics "bitcoin", "ethereum" and "bitcoin mining" still exist and remain active in Baidu Tieba.

The Baidu Tieba platform was launched in 2003 and, according to the company, at the moment its monthly audience reaches 300 million active users.

WHY IS IT IMPORTANT?

  • Last week, Tencent, which owns the largest Chinese messenger WeChat, blockedseveral cryptocurrency channels on its platform also because of information about ICO and cryptocurrency speculation.
  • The WeChat ban was followed by the warning that came from the Chinese authorities, that found 124 foreign crypto exchanges providing its services to Chinese citizens.
  • Later on Friday, five high-level Chinese regulatory authorities issued a warning on the "illegal fundraising" of cryptocurrency funds under the schemes that involve the use of cryptocurrency and blockchain.
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