China’s anti-crypto regulation force STEPN to block mainland users

China’s anti-crypto regulation force STEPN to block mainland users

The country’s progressing crackdown against crypto-related businesses has led the NFT gaming app to block users from mainland

China’s anti-crypto regulations have reportedly blocked the mainland users of NFT (non-fungible token) gaming app Stepn to access the app starting on 15 July. The restriction is set to come into effect when Stepn stops providing GPS and IP location services.   

Despite announcing the plans to restrict serving users from the mainland, the development team insisted in a tweet that Stepn had not been involved in any business with the players from the region. In the tweet, the team said that Stepn apologize for the inconvenience and thank the community for understanding.

The tweet further stated that Stepn has neither been involved in any business in mainland China nor has provided download options since the gaming app was established. The NFT gaming app has always complied with the obligations and always strictly abided by the mandatory and relevant requirements of local regulatory agencies.

In addition to the recent announcement, Stepn said that they will still inform the community of any new updates related to the blockade via email, social media, and in-app alerts.

Besides this, according to a credible source, the in-game cryptocurrency of Stepn has briefly dropped by 38% after the announcement. Shortly after the news, Stepn became the top trending search term on China’s leading social media platform, Weibo.

Known as “move-to-earn” game, Stepn allows users to trade the supposed NFT trainers as well as the GMT (in-game cryptocurrency) by either running or walking the real world. The in-game cryptocurrency earnings can be converted to cash or other crypto assets.

Nevertheless, China’s anti-crypto regulations have forced the development team of Stepn to take steps that will make sure that the NFT gaming platform strictly abides by the country’s stringent regulations.

Source Credit: https://news.bitcoin.com/chinese-crypto-regulations-force-nft-gaming-app-stepn-to-block-mainland-users/