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A popular Chinese securities trading app seems to have removed its cryptocurrency price tracking function just two weeks after the activation of the new service, probably due to regulatory noise in the country.
Reports emerged for the first time on May 17 that the app – called Tong Huashun (or "Straight Flush" in the literal translation) – had added the crypto-asset price tracking feature in its iOS version. The service offered a real-time price index for the major cryptocurrencies based on market capitalization, such as bitcoin, bitcoin liquidity, ethereum, XRP and litecoin, although it did not provide in-app cryptography.
According to the company's 2017 financial report filed with the Shenzhen Stock Exchange, Tong Huashun has reported 11 million active users every day on its free mobile trading app.
Currently, however, the search for functionality within the application leads to a page indicating that the service does not exist.
In the meantime it is not clear what led to change. At the time of the press, company representatives have yet to respond to CoinDesk's request to comment on the reasons for the change.
However, the news comes after the municipal government spokesperson, Beijing News, described the cryptographic tracking service of the application and "walks on a thin line" "questionable".
Quoting a legal expert from the Bank of China, the May 17 report said that although the offer can not fall within the existing scope of the Chinese ban on token trading, it should be noted that the ban is not exclusive and could be extended to China-based platforms that only provide cryptocurrency price data.
Image of the Chinese stock card through Shutterstock
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