Chinese internet giants shut cryptocurrency forums and transactions amid government clampdown

China began its cryptocurrency clampdown last September with bans on domestic exchanges and initial coin offerings (ICOs), a controversial crowd fundraising method involving cryptocurrencies.

China’s three biggest tech companies – Baidu, Alibaba and Tencent – are moving quickly to keep pace with regulators amid Beijing’s latest crackdown on cryptocurrencies.

Baidu, operator of China’s dominant internet search engine, has shut down some of its popular cryptocurrency-related chat rooms, known as Post Bar services, including “Digital Currency Bar” and “Virtual Currency Bar.” A search of the two online forums showed they are temporarily closed “in accordance with relevant laws, regulations and policies.” A spokeswoman for Baidu declined to comment on the matter.