Following decisions by Alibaba and Tencent to distance itself from cryptocurrency related activities, Baidu, one Chinese most popular search engines and one of the largest companies in the world has decided to follow suit by also banning crypto related activities in its forums. According to reports credited to China times, Baidu is looking at censoring and banning forum topics that are related to cryptocurrencies. At the moment, the company has taken strict measures while also increasing its scrutiny over digital currency related activities. That’s not all, the company has also decided that it will not allow any sub-forums within its platform that covers discussions under this theme.
Findings have also revealed that forthwith, the company will manage its operations in line with existing Chinese laws and regulations. And to demonstrate its resolve to distance its forums from cryptocurrency related activities, Baidu has summarily taken down two of the popular sub-forums related to this theme- “digital currency” and “virtual currency.” A search for both keywords returns with a statement saying “This forum is temporarily closed due to relevant laws, regulations, and policies.”
Quizzed to comment on the decision to close those forums, a representative from Baidu Tieba stated that the sub-forums were shut down due to the fact that they were sharing information about initial coin offerings (ICOs) and other cryptocurrency related speculations.
Be that as it may, there are still other active forums that haven’t been shut down yet. As at press time, sub-forums like “bitcoin mining” “etherium,” “bitcoin” etc. are still very much active. It should be known that the move by Baidu’s to ban cryptocurrency related activities is coming just days after Alibaba and Tencent both stated that they will continue to monitor and suspend accounts and profiles which use mobile-based payment applications to conduct crypto trading on their platform.
Also, in a related development, five high-level regulatory agencies in China on Friday issued a joint statement against oversea cryptocurrency projects that make use of online communication channels to lure investors from the region. Baidu Tieba is one of the largest online community for Chinese users with an estimated 300 million active users every month.