Search Giant Baidu Joins the Ongoing Chinese Crypto Crackdown

Z Jason / Flickr

Baidu (BIDU), a Chinese multinational technology company specializing in Internet-related services, has reportedly joined the ongoing Chinese cryptocurrency crackdown with a block on crypto related content on its online portals.

According to a report by the China Times, the crackdown will initially target Baidu Tieba, which are essentially open forums similar to social platforms like Reddit and Steem. The report indicates that the forums dedicated to multiple cryptocurrency categories have already been shut down, including the forum titled digital currency.

This news comes just days after reports came out showing that the Chinese government is set to ban more than 120 offshore cryptocurrency exchanges. Shortly thereafter, China’s two largest technology companies, Tencent (TCEHY) and Alibaba (BABA), reportedly banned cryptocurrency transactions on WeChat Pay and Ant Financial’s Alipay, respectively. This came just days after Tencent banned cryptocurrency and blockchain-related media outlets from the WeChat platform.

The market has largely ignored the news, as the AltDex 100 Index (ALT100), a benchmark index for the industry’s leading cryptocurrencies and tokens, is currently up over 2% today.

More: China Times Report
Photo: Z Jason / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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