BTC Price Ticker Removed From China’s Douyin App – BCCN3

BEIJING, CN – Douyin, China’s equivalent of TikTok, has taken down the bitcoin price ticker immediately after launching it on the app. The move has surprised users searching for BTC prices on the app, who were instead greeted with a warning about digital currency investing. 

Local media reports have suggested that the removal may be a sign Beijing is not warming up to crypto as previously thought. The launch of the ticker coincided with Hong Kong welcoming crypto companies and Chinese banks soliciting investment from those companies. 

In a recent blog post, Hong Kong’s financial secretary, Paul Chan, emphasized the need for appropriate regulation and promotion of web3 development to generate innovation. “In terms of proper supervision, in addition to ensuring financial security and preventing systemic risks, we will also do a good job in investor education and protection, and anti-money laundering.”

Douyin is China's most downloaded short video app, with over 700 million users.