The popular messaging app said the move was in line with 'relevant national regulations'.
China's popular WeChat messaging app has suspended some accounts linked to non-fungible tokens , to prevent speculation in the digital assets.
The platform says it has "rectified" accounts which it found to be promoting NFT market speculation, that can help to drive up prices. There are no regulations against NFTs in China, although the trading of cryptocurrencies was banned last year.For this reason they have been touted as the digital answer to collectibles. However, they have no tangible form of their own, and experts have warned about risks in the market.The platform said it had
"recently standardised and rectified public accounts and small programmes for speculation and secondary sales of digital collections". It added that this was done "according to relevant national regulations, in order to prevent the risk of speculation in virtual currency transactions".
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