Contest Trader

Don't miss the chance to cash-in prizes totaling

$10.000
Register here for the Ultimate demo trading competition

Trump Administration vs. WeChat

Trump Administration vs. WeChat

Another Chinese app faces ban over national security concerns

After #TikTok was saved from banning its US presence by Oracle, another Chinese company is targeted by the #Trump Administration, Tencent's WeChat. Following the pattern set through TikTok, the Commerce Department has set a deadline for September 20 to draft measures for blocking the so-called "transactions" with the owners of the apps.

WeChat is a hugely popular app that provides, among other things messaging and financial transfer services. It is used by people of Chinese descent to communicate with friends and family and to conduct business in mainland China. However, the app is censored in China, and as of August, it can undergo restrictions set by the Chinese authorities.

But the matter didn't stay between the US and the Chinese companies. Multiple US-based #WeChat users are suing the president and his administration, seeking an injunction against the order. The US WeChat Users Alliance claims that the order would violate the US users' freedom of speech, religion, etc. According to the filing, they are not affiliated with WeChat nor with Tencent Holdings.

However, the Justice Department stated that the Commerce Department "does not intend to take actions that would target persons or groups whose only connection with WeChat is their use or downloading of the app to convey personal or business information between users."

The hearing of the Alliance is scheduled for today.

Tencent Holdings closed the Hong Kong trading session lower by almost 1%.

Read all about TikTok and Oracle here!

Sources: marketwatch.com, apnews.com


Maklumat yang disediakan oleh za.capex.com bukan berbentuk tawaran atau permintaan untuk tujuan pembelian atau penjualan apa-apa produk kewangan yang disebutkan di sini atau melibatkan perundngan, atau nasihat mahupun cadangan berkenaan dengan kewangan produk tersebut.

Maklumat ini disediakan untuk edaran umum. Ia tidak mengambil kira objektif pelaburan tertentu, keadaan kewangan atau keperluan tertentu dari mana-mana penerima.

Anda harus bebas menilai setiap produk kewangan dan mempertimbangkan kesesuaian produk kewangan sedemikian, dengan mengambil kira objektif pelaburan tertentu anda, keadaan kewangan atau keperluan khusus, dan berunding dengan penasihat kewangan bebas, sebelum berurusan dalam produk kewangan yang disebutkan dalam dokumen ini.

Maklumat ini tidak boleh diterbitkan, diedar semula, diterbitkan semula atau diedarkan secara keseluruhan atau sebahagian kepada mana-mana individu lain tanpa kebenaran bertulis daripada Syarikat terlebih dahulu.

Prestasi lalu tidak sentiasa menggambarkan prestasi atau kemungkinan masa depan. Sebarang pandangan atau pendapat yang dikemukakan hanyalah pandangan penulis semata-mata dan tidak mewakili za.capex.com