Popular Chinese messaging app WeChat has suspended several accounts linked to non-fungible tokens (NFTs) as per state media CCTV.

The step has been taken for the prevention of speculation in the digital assets amid rising crackdown on domestic technology companies by China's ruling Communist Party.

WeChat said in a statement that it had "recently standardised and rectified public accounts and small programmes for speculation and secondary sales of digital collections".

The platform added that it has ''rectified'' accounts that had been promoting NFTS that many financial experts believe are unsafe investments as they can be duplicated easily.

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WeChat, developed by gaming giant Tencent, saw slowing growth during a "challenging" 2021, according to its annual report.&nbsp;

The Shenzhen-based firm saw its total revenues in 2021 increase by 16 percent to 560.1 billion yuan ($88 billion), a record low for the company operating Tencent QQ and WeChat, two of China's most ubiquitous messaging platforms.

"2021 was a challenging year, in which we embraced changes and implemented certain measures that reinforced (Tencent's) long-term sustainability, but had the effect of slowing our revenue growth," said CEO Pony Ma, also known as Ma Huateng.&nbsp;

<a href="https://www.wionews.com/world/chinese-tech-giant-tencents-wechat-blocks-account-of-australian-prime-minister-scott-morrison-447113">Also read |&nbsp;Chinese tech giant Tencent's WeChat blocks account of Australian Prime Minister Scott Morrison</a>

He added that Tencent was adapting to a "healthier" internet environment in China.

Tencent's sluggish growth comes after a year of increasing regulatory control by Beijing. In November last year, the Chinese government said all new apps and updates of its platforms must be approved by regulators, after finding that nine of the group's apps have committed "violations".&nbsp;

Meanwhile, Bloomberg News reported that China is considering requiring Tencent Holdings Ltd to include WeChat Pay in a newly created financial holding company as part of an overhaul that may require a new license for the mobile payments service.

The news comes after the Wall Street Journal reported on Monday that Tencent was facing a potential fine of at least hundreds of millions of yuan for violating some central bank regulations on its WeChat Pay mobile network.

(With inputs from agencies)

Popular Chinese messaging app WeChat has suspended several accounts linked to non-fungible tokens (NFTs) as per state media CCTV. The step has been taken for the prevention of speculation in the digital assets amid rising crackdown on domestic technology companies by China's ruling Communist Party.

Popular Chinese messaging app WeChat has suspended several accounts linked to non-fungible tokens (NFTs) as per state media CCTV. The step has been taken for the prevention of speculation in the digital assets amid rising crackdown on domestic technology companies by China's ruling Communist Party. WeChat said in a statement that it had "recently standardised and rectified public accounts and small programmes for speculation and secondary sales of digital collections". The platform added that it has ''rectified'' accounts that had been promoting NFTS that many financial experts believe are unsafe investments as they can be duplicated easily. WeChat, developed by gaming giant Tencent, saw slowing growth during a "challenging" 2021, according to its annual report. The Shenzhen-based firm saw its total revenues in 2021 increase by 16 percent to 560.1 billion yuan ($88 billion), a record low for the company operating Tencent QQ and WeChat, two of China's most ubiquitous messaging platforms. "2021 was a challenging year, in which we embraced changes and implemented certain measures that reinforced (Tencent's) long-term sustainability, but had the effect of slowing our revenue growth," said CEO Pony Ma, also known as Ma Huateng. Also read | Chinese tech giant Tencent's WeChat blocks account of Australian Prime Minister Scott Morrison He added that Tencent was adapting to a "healthier" internet environment in China. Tencent's sluggish growth comes after a year of increasing regulatory control by Beijing. In November last year, the Chinese government said all new apps and updates of its platforms must be approved by regulators, after finding that nine of the group's apps have committed "violations". Meanwhile, Bloomberg News reported that China is considering requiring Tencent Holdings Ltd to include WeChat Pay in a newly created financial holding company as part of an overhaul that may require a new license for the mobile payments service. The news comes after the Wall Street Journal reported on Monday that Tencent was facing a potential fine of at least hundreds of millions of yuan for violating some central bank regulations on its WeChat Pay mobile network. (With inputs from agencies)

Popular Chinese messaging app WeChat suspends several accounts linked to non-fungible tokens

WeChat`s worldwide accounts have crossed the one billion mark, according to the Chief Executive Officer of its parent company Tencent.

The all-in-one app is a daily necessity for most Chinese, bringing together messaging, social media, mobile payment, games, news, and other services.

&quot;WeChat`s worldwide monthly active users have surpassed the critical one billion mark,&quot; CEO Pony Ma said Monday on the sidelines of China`s parliamentary session underway in Beijing.&nbsp;

&quot;In the future, we hope to use technological innovation to push forward the next developmental step of reform and opening,&quot; Ma said.

He was referring to China`s economic liberalization policy that has fuelled four decades of breakneck economic growth.&nbsp;

Although Ma said WeChat`s monthly active users had crossed the one billion thresholds, a company spokesman told&nbsp;he was referring to its total number of accounts.&nbsp;

Still, the one billion figure indicates the huge user base which Tencent has built up both inside and outside China for its all-in-one app.

It compares with 2.1 billion monthly active users on Facebook and 1.5 billion on its messaging app WhatsApp.&nbsp;

The popularity of WeChat and profits from its addictive mobile games have pushed Tencent`s earnings and share price sharply upwards.&nbsp;

The company surpassed Facebook in market value last year and the 47-year-old Ma has rocketed to near the apex of China`s rich list.&nbsp;

He is the wealthiest delegate to the parliamentary session, according to Shanghai-based luxury magazine publisher Hurun Report, which estimated his fortune at $47 billion.

WeChat`s worldwide accounts have crossed the one billion mark, according to the chief executive officer of its parent company Tencent. The all-in-one app is a daily necessity for most Chinese, bringing together messaging, social media, mobile payment, games, news, and other services.

WeChat`s worldwide accounts have crossed the one billion mark, according to the Chief Executive Officer of its parent company Tencent. The all-in-one app is a daily necessity for most Chinese, bringing together messaging, social media, mobile payment, games, news, and other services. "WeChat`s worldwide monthly active users have surpassed the critical one billion mark," CEO Pony Ma said Monday on the sidelines of China`s parliamentary session underway in Beijing. "In the future, we hope to use technological innovation to push forward the next developmental step of reform and opening," Ma said. He was referring to China`s economic liberalization policy that has fuelled four decades of breakneck economic growth. Although Ma said WeChat`s monthly active users had crossed the one billion thresholds, a company spokesman told he was referring to its total number of accounts. Still, the one billion figure indicates the huge user base which Tencent has built up both inside and outside China for its all-in-one app. It compares with 2.1 billion monthly active users on Facebook and 1.5 billion on its messaging app WhatsApp. The popularity of WeChat and profits from its addictive mobile games have pushed Tencent`s earnings and share price sharply upwards. The company surpassed Facebook in market value last year and the 47-year-old Ma has rocketed to near the apex of China`s rich list. He is the wealthiest delegate to the parliamentary session, according to Shanghai-based luxury magazine publisher Hurun Report, which estimated his fortune at $47 billion.

WeChat accounts cross one billion mark: CEO

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Popular Chinese messaging app WeChat suspends several accounts linked to non-fungible tokens

WeChat accounts cross one billion mark: CEO