The app is used by 11 million daily active users, according to company’s financial statement filed with the Shenzhen Stock Exchange
Possibly wary of the regulatory repercussions in the country, a popular Chinese stock trading app apparently removed the cryptocurrency price tracking feature weeks after it went live.
Reportedly, the app — Tong Huashun (or "Straight Flush" in literal translation)—started the feature on May 17 in its iOS version. The service offered real-time price index for major crypto-assets such as bitcoin, bitcoin cash, Ethereum, Ripple (XRP) and Litecoin. The app, however, did not provide in-app trading in these currencies.
The app is used by 11 million daily active users, according to company’s financial statement filed with the Shenzhen Stock Exchange.
The company removed the feature quietly and as of now, it is not clear what prompted the decision. Searching for the feature on the app leads to a page which says service does not exist, reported CoinDesk.
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The decision though comes after a news portal Beijing News, considered a mouthpiece of the municipal-level government, called the application's crypto tracking service "questionable" and "walking a thin line".
Quoting a legal expert, the news portal said that though the service provided by Tong Huashun may not fall under the ban on cryptocurrency in China it should be noted that the probation was not exclusive and may be extended to not-trading activities as found suitable by a statutory law enforcer.