The Chinese equivalent of WhatsApp, WeChat, has updated its terms of service to ban merchants from fundraising by using tokens or cryptocurrencies. The Tencent-operated chat messaging app quietly revised its policy last month; the new policy will take effect on May 31. Merchants violating the update will have their accounts terminated. Urgh, Wechat just updated its payment policy .. merchant can’t serve any token issuance/fund raising or crypto trading activities, otherwise account will be terminated Given most OTC transactions are happening in wechat, this may impact local liquidity to quite some extent pic.twitter.com/TdNIO6cggS — Dovey Wan 🗝 🦖 (@DoveyWan) May…

This story continues at The Next Web