{"id":20118,"date":"2019-11-19T13:03:21","date_gmt":"2019-11-19T12:03:21","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=20118"},"modified":"2019-11-19T13:03:21","modified_gmt":"2019-11-19T12:03:21","slug":"binance-and-tron-to-appeal-weibo-accounts-suspension-in-the-midst-of-chinese-government-crackdown-on-cryptocurrency-businesses","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/binance-and-tron-to-appeal-weibo-accounts-suspension-in-the-midst-of-chinese-government-crackdown-on-cryptocurrency-businesses\/","title":{"rendered":"Binance and Tron to Appeal Weibo Accounts Suspension in the Midst of Chinese Government Crackdown on Cryptocurrency Businesses"},"content":{"rendered":"
Giant cryptocurrency exchange Binance and blockchain platform Tron are seeking to have their official Weibo accounts restored after the social media company suspended them without any reason last week. Weibo<\/a> <\/strong>is an equivalent of Twitter but only popular in China. <\/p>\n The accounts suspension came only a day before the official announcement that directed any local agency firms to stop working with cryptocurrency-related businesses. The notice was co-signed by the Shanghai headquarters of China\u2019s central bank<\/strong> [PBOC] and the city\u2019s financial regulator on November 14th.<\/p>\n Binance<\/a> <\/strong>is now claiming that the suspension had nothing to do with the directive given that it came on a day after Weibo suspended its account. A Binance spokesman said the exchange is appealing the decision.<\/span> According to reports, Tron<\/a> <\/strong>has also indicated that he is working to restore his Weibo account.<\/span><\/span><\/p>\n The China crackdown which against started on Thursday following the November 14th directive followed weeks of pro-blockchain sentiments. The Chinese President Xi Jinping stated a few weeks ago that the country needs to embrace blockchain technology<\/strong> and this declaration led to a massive bull run across the cryptocurrency space. Bitcoin gained more than 40% in less than 24 hours following the Jinping speech, the largest single-day gain since 2011.<\/p>\n <\/p>\n In the Thursday November 14th notice, the Chinese financial watchdog and central bank cited an order by another Chinese internet-finance watchdog which expressed concerns over the return of the blockchain bubble caused by the Chinese government\u2019s pro-blockchain sentiments.<\/p>\n