80 CHINESE CRYPTO INFLUENCER ACCOUNTS SHUT DOWN IN LATEST CRACKDOWN

Last updated: June 19, 2025, 19:07 | Written by: Meltem Demirors

The ongoing saga of China's complex relationship with cryptocurrency has taken another turn, with the recent shutdown of 80 influential accounts on Sina Weibo, one of the nation's most popular social media platforms.This action, affecting accounts boasting over 8 million combined followers, highlights the Chinese government's unwavering stance against cryptocurrency promotion and trading.Sina Weibo, a microblogging giant with over 258 million daily active users, cited official legislation as the reason for the crackdown, signaling a continued effort to maintain tight control over the digital financial landscape. China s stringent stance on cryptocurrencies has again come to the forefront as Sina Weibo, one of the country s most popular social media platforms with a staggering 258 million daily active users, announced the removal of 80 influential crypto accounts. The move was executed in compliance with official legislation. In an announcement on September 5th, Sina [ ]This move isn't an isolated incident, but rather a continuation of a broader campaign to curb cryptocurrency-related activities within China's borders.The impact of this event ripples through the crypto community, raising questions about the future of digital assets in China and the lengths to which the government will go to enforce its policies.What does this mean for the future of crypto engagement in China? Sina Weibo one of the most popular Chinese social media apps, with over 258 million daily active users has removed 80 influencer accounts promoting cryptocurrency activities, citing official legislation.And how will this affect the global cryptocurrency market?

China's Stance on Cryptocurrency: A History of Crackdowns

China's approach to cryptocurrency has been characterized by a series of escalating restrictions and outright bans.While initially allowing mining and trading activities, the government gradually tightened its grip, citing concerns about financial stability, capital flight, and environmental impact.This has culminated in a comprehensive ban on all cryptocurrency transactions and mining operations.

Key Events in China's Crypto Crackdown:

Early Warnings and Restrictions: Initial warnings from regulatory bodies about the risks associated with cryptocurrencies.
ICO Ban (2017): A complete ban on Initial Coin Offerings (ICOs), effectively halting fundraising through crypto tokens.
Trading Platform Closures (2017): Domestic cryptocurrency exchanges were forced to shut down, pushing trading activities underground or offshore.
Mining Crackdown (2021): A nationwide ban on cryptocurrency mining, which previously constituted a significant portion of global Bitcoin mining.
Comprehensive Ban (2021): A complete ban on all cryptocurrency transactions, including those involving offshore exchanges.
Influencer Account Shutdowns (Ongoing): Continuous monitoring and removal of online content promoting cryptocurrency, as evidenced by the recent Weibo action.

These measures reflect the government's desire to maintain control over its financial system and prevent the perceived risks associated with decentralized digital currencies. Sina (BitStamp: SINA) Weibo (NASDAQ: WB) one of the most popular Chinese social media apps, with over 258 million daily active users has removed 80 influencer accounts promotingThe latest shutdown of influencer accounts is a stark reminder of the government's resolve.

The Weibo Crackdown: Details and Implications

The recent shutdown of 80 crypto influencer accounts on Sina Weibo marks another significant step in China's ongoing crackdown.This action, announced on September 5th, involved the proactive removal of accounts that were accused of violating various regulations related to finance, banking, and internet safety. 80 Chinese crypto influencer accounts shut down in latest crackdown. The accounts had over 8 million in combined followers before they were removed. Source: 80 Chinese crypto influencer accounts shut down in latest crackdown Would appreciate your opinion about thisThese accounts, collectively reaching over 8 million followers, played a crucial role in disseminating information and promoting cryptocurrency-related activities within China.

Specific Violations Cited by Weibo:

Breaching regulations related to telecommunications.
Violating financial and banking regulations.
Infringing upon online marketing guidelines.
Compromising securities and exchange rules.
Threatening internet safety.

The scale of the crackdown is significant, highlighting the government's commitment to eliminating any remaining avenues for cryptocurrency promotion within its digital ecosystem. 7.8M subscribers in the CryptoCurrency community. The leading community for cryptocurrency news, discussion, and analysis.It also serves as a warning to other platforms and individuals who might be tempted to engage in similar activities.

Why is China So Against Cryptocurrency?

Understanding China's firm stance against cryptocurrency requires examining the underlying motivations driving its regulatory actions. The accounts had over 8 million in combined followers before they were removed. Sina Weibo one of the most popular Chinese social media apps, with over 258 million daily active users has removed 80 influencer accounts promoting cryptocurrency activities, citing official legislation.Several key factors contribute to the government's apprehension towards decentralized digital currencies.

Key Reasons for China's Crypto Ban:

Financial Stability: The government fears that widespread cryptocurrency adoption could destabilize its financial system, undermining the authority of the central bank and potentially leading to capital flight.
Capital Controls: Cryptocurrency provides a potential avenue for circumventing China's strict capital controls, allowing citizens to move money out of the country without government oversight.
Monetary Policy Control: A decentralized cryptocurrency system challenges the government's ability to control monetary policy and manage the economy.
Cybersecurity Concerns: The anonymity and decentralized nature of cryptocurrencies raise concerns about their potential use for illicit activities, such as money laundering and funding terrorism.
Environmental Impact: Cryptocurrency mining, particularly Bitcoin mining, consumes significant amounts of energy, posing a challenge to China's environmental goals.
Social Control: The government seeks to maintain tight control over information and online activities.Cryptocurrency promotion and trading are seen as potential sources of social instability.

These concerns are not unique to China, but they are amplified by the country's unique political and economic system.The government prioritizes stability and control, and cryptocurrency is perceived as a threat to both.

The Impact on Crypto Influencers and the Chinese Crypto Community

The shutdown of these 80 influencer accounts has a chilling effect on the Chinese crypto community. [ad_1]Sina Weibo, one of the most popular Chinese social media apps with over 258 million daily active users, has removed 80 influencer accounts promoting cryptocurrency activities citing official legislation.According to the Sept. 5 announcement, 8These influencers played a vital role in educating the public, sharing market insights, and fostering a sense of community. The accounts had over 8 million in combined followers before they were removed. Sina Weibo, one of the most popular Chinese social media aTheir absence leaves a void in the information ecosystem and makes it more difficult for Chinese citizens to access accurate and unbiased information about cryptocurrency.

Consequences for Crypto Influencers:

Loss of Platform: Influencers lose their primary channel for reaching their audience and sharing their content.
Reputational Damage: Being associated with banned activities can damage their reputation and future career prospects.
Potential Legal Consequences: Depending on the severity of their violations, influencers could face legal penalties, including fines or even imprisonment.

Impact on the Chinese Crypto Community:

Reduced Access to Information: The community loses access to valuable insights and analysis from trusted sources.
Increased Difficulty in Trading: The crackdown makes it more challenging to engage in cryptocurrency trading, forcing activities further underground.
Erosion of Trust: The government's actions erode trust in the cryptocurrency market and discourage participation.

The crackdown reinforces the message that cryptocurrency-related activities are unwelcome in China, further isolating the Chinese crypto community from the global market.

The Larger Crypto Crackdown in China: A Historical Perspective

The recent Weibo account shutdowns are not an isolated incident.They are part of a larger, more comprehensive effort by the Chinese government to eliminate cryptocurrency activity within its borders. [ Febru ] SEC Advances Bitwise s Dual Crypto ETF Proposal Ethereum [ Janu ] Network Activity Surges as Price Breaks Through $3,200 Resistance Ethereum [ Janu ] Ethereum (ETH) Price to $13k?To understand the full scope of this crackdown, it's important to examine its historical context and key milestones.

Timeline of Major Crypto Crackdown Events:

March 2023: Weibo removed 131 accounts linked to crypto and stock trading activities, signaling an intensification of content control.
August 2025: A massive nationwide crackdown led by the Cyberspace Administration of China (CAC) resulted in the removal of 12,000 influencer accounts on Weibo and Baidu.These accounts were directly linked to cryptocurrency promotion.In addition to the account closures, the CAC also deleted 51,000 related promotional posts, effectively scrubbing a significant amount of crypto-related content from the Chinese internet.

These events demonstrate a consistent pattern of government intervention aimed at suppressing cryptocurrency adoption and promotion. 80 Chinese crypto influencer accounts shut down in latest crackdown Sina Weibo, one of the most popular Chinese social media apps with over 258 million daily active users, has removed 80 influencer accounts promoting cryptocurrency activities citing official legislation.The increasing scale of these crackdowns highlights the government's determination to maintain its control over the financial system and prevent the perceived risks associated with digital assets.

How Chinese Citizens Navigate the Crypto Ban

Despite the stringent ban, some Chinese citizens continue to engage with cryptocurrency, albeit with increased difficulty and risk.They employ various methods to circumvent the restrictions, including using VPNs to access offshore exchanges, engaging in over-the-counter (OTC) trading, and relying on trusted intermediaries.

Common Methods for Circumventing the Crypto Ban:

VPNs: Using Virtual Private Networks (VPNs) to mask their IP addresses and access websites and exchanges that are blocked in China.
OTC Trading: Engaging in over-the-counter (OTC) trading, where individuals buy and sell cryptocurrency directly with each other, bypassing centralized exchanges.
Offshore Exchanges: Using cryptocurrency exchanges located outside of China, often requiring the use of VPNs and alternative payment methods.
P2P Platforms: Utilizing peer-to-peer (P2P) platforms that facilitate direct transactions between buyers and sellers.

However, these methods come with inherent risks, including the potential for scams, fraud, and legal repercussions. The accounts had over 8 million in combined followers before they were removed. Sina Weibo, one of the most popular 80 Chinese crypto influencer accounts shut down in latest crackdown - XBT.MarketThe government actively monitors online activity and takes measures to identify and punish those who violate the ban.

Global Implications of China's Crypto Stance

China's stance on cryptocurrency has significant implications for the global crypto market.As one of the world's largest economies and a major player in the cryptocurrency industry, China's actions can have a ripple effect on prices, trading volumes, and regulatory trends.

Key Global Impacts:

Price Volatility: China's crackdown can trigger significant price volatility in the cryptocurrency market, as investors react to the news and adjust their positions.
Shift in Mining Activity: The ban on cryptocurrency mining has led to a significant shift in mining activity to other countries, such as the United States, Kazakhstan, and Canada.
Regulatory Influence: China's actions can influence regulatory approaches in other countries, as governments grapple with the challenges and opportunities presented by cryptocurrency.
Innovation and Development: The crackdown could stifle innovation and development in the cryptocurrency space, as Chinese companies and developers are forced to operate outside of the country.

The long-term impact of China's policies on the global crypto market remains to be seen, but it is clear that the country's actions will continue to shape the future of digital assets.

What Does the Future Hold for Crypto in China?

Predicting the future of cryptocurrency in China is a complex task, given the government's ever-evolving policies and the dynamic nature of the digital asset landscape.While the current environment is highly restrictive, there are potential scenarios that could unfold in the years to come.

Possible Future Scenarios:

Continued Ban: The government could maintain its current ban on all cryptocurrency transactions and mining activities, continuing to suppress the industry within its borders.
Limited Relaxation: The government could selectively relax certain restrictions, perhaps allowing limited trading of specific cryptocurrencies or supporting blockchain technology for specific applications.
Central Bank Digital Currency (CBDC): China could focus on developing and promoting its own Central Bank Digital Currency (CBDC), the digital Yuan (e-CNY), as an alternative to decentralized cryptocurrencies.
Regulatory Framework: The government could establish a comprehensive regulatory framework for cryptocurrency, allowing certain activities to operate under strict supervision and licensing.

The most likely scenario is a continuation of the current ban, with the government focusing on promoting its CBDC and controlling the flow of capital.However, the rapidly evolving nature of the cryptocurrency industry means that unexpected developments could always occur.

Advice for Navigating the Crypto Landscape Amidst Chinese Regulations

For individuals and businesses operating in the cryptocurrency space, navigating the complex and ever-changing regulatory landscape in China requires careful planning and due diligence. According to the Sept. 5 announcement, 80 crypto influencer accounts, with over 8 million total followers, were proactively removed by Weibo. The accounts were accused of breaching eight regulations related to telecommunications, finance, banking, online marketing, securities, exchanges and internet safety for their role in promotingHere are some key recommendations:

Actionable Advice:

Stay Informed: Closely monitor regulatory developments and stay up-to-date on the latest government policies.
Seek Legal Counsel: Consult with legal professionals who specialize in cryptocurrency and Chinese law to ensure compliance.
Diversify Operations: Consider diversifying your operations and establishing a presence in countries with more favorable regulatory environments.
Prioritize Security: Implement robust security measures to protect your assets and data from cyber threats and regulatory scrutiny.
Respect Local Laws: Always comply with local laws and regulations, even if they differ from those in your home country.

By taking these steps, you can mitigate the risks associated with operating in a complex regulatory environment and position yourself for success in the evolving cryptocurrency landscape.

Conclusion: The Future of Crypto Engagement in China

The shutdown of 80 Chinese crypto influencer accounts on Sina Weibo underscores the Chinese government's unwavering commitment to controlling the cryptocurrency landscape within its borders. In March, Weibo removed 131 accounts linked to crypto and stock trading activities. The largest nationwide crackdown occurred in August 2025 when the Cyberspace Administration of China (CAC) removed 12,000 influencer accounts on Weibo and Baidu linked to cryptocurrencies and deleted 51,000 related promotional posts.This action, part of a broader crackdown, highlights the challenges and uncertainties facing the crypto community in China. Sina Weibo one of the most popular Chinese social media apps, with over 258 million daily active users has removed 80 influencer accounts promoting cryptocurrency activities, citingWhile some individuals and businesses continue to navigate the restrictions, the government's stance remains firmly opposed to decentralized digital currencies. Sina Weibo, one of the most popular Chinese social media apps with over 258 million daily active users, has removed 80 influencer accounts promoting cryptocurrency activities citing official legislation.The future of crypto engagement in China hinges on the government's evolving policies and the potential for innovation and adaptation within the industry. The largest nationwide crackdown occurred in August 2025, when the Cyberspace Administration of China (CAC) removed 12,000 influencer accounts on Weibo and Baidu linked to cryptocurrencies and deleted 51,000 related promotional posts.For now, caution and compliance are paramount for anyone operating in or engaging with the Chinese crypto market. Sina Weibo, one of the most popular Chinese social media apps with over 258 million daily active users, has removed 80 influencer accounts promoting cryptocurre 80 Chinese crypto influencer accounts shut down in latest crackdown - InCryptoPressThe key takeaways are clear: China's **strict regulations** are unlikely to ease significantly in the near future, impacting both domestic and global crypto dynamics.The future likely involves a greater push for the government's own digital currency, potentially sidelining decentralized cryptocurrencies further.It's crucial to **stay informed** and adapt to these evolving circumstances to navigate the complex landscape effectively.