OKLink Unites With China Institute to Fight Crypto Crimes

July 14, 2021 at 02:07 AM GST updated: July 14, 2021 at 02:12 AM 2 mins read News

OKLink partnered with Nanjing Public Security Research in China
TikTok bans crypto influencers

The OKLink, a blockchain money transfer network has partnered with Nanjing Public Security Research in China. Specifically, this partnership aims to deepen the security of the country against fraudulent transactions in China. These heinous activities include money laundering and other illicit transactions.

These made Wu Blockchain, a Chinese journalist and blockchain enthusiast, react:

OKLINK has reached a cooperation with Nanjing Public Security Research Institute to establish a laboratory, and China's cryptocurrency leaders have more frequent cooperation with local police. https://t.co/NwrvIxrYCx
— Wu Blockchain (@WuBlockchain) July 12, 2021

Furthermore, the Nanjing Public Security institute also announced that this partnership seeks to accelerate the effectiveness and improvement of blockchain in the government. The agreement between OKLink and Nanjing Public Security includes setting up a research laboratory. This research laboratory will strategize and implement on-chain data analysis to fight financial crimes.

On the other hand, TikTok, one of the biggest social media in the world, bans influencers from promoting cryptocurrencies. This movement is made to stop the influencers from selling or promoting high-risk investments that might cause harm to its audience. For this reason, all companies including legitimate crypto firms cannot hire influencers anymore to promote their products in TikTok.

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Another reason that TikTok considered in banning crypto influencers is to prevent misleading financial advice. This mainly pertains to the young investors in the crypto world who might get involved in get-rich-quick schemes, which sometimes result in serious financial problems.

In other news, Pundi X joined hands with OVO Dijital Servisler A.S. to spread the crypto adoption in Turkey. To be specific, this partnership enables Pundi X to help interested business owners to set up crypto exchange spots in the country.

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