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CryptoCann™ Report: WeChat reportedly blocks crypto and blockchain accounts; Canopy Growth increases production capacity

The Chinese social media giant allegedly blocked accounts talking up ICOs and other crypto offerings

WeChat app logo on a phone
The social platform has more than 1 billion users in China

The Crypto Report

Chinese social media giant WeChat has reportedly blocked several accounts associated with cryptocurrency and blockchain, according to a CoinTelegraph report.

The blocked accounts were suspected of violating WeChat’s terms of service, known as the “Interim Provisions on the Development of Public Information Services for Instant Messaging Tools” by talking up initial coin offerings and other forms of crypto trading.

The Cyberspace Administration of China, the country’s internet regulator, introduced the interim provisions earlier this month.

Developed by Tencent Holdings Ltd (OTCMKTS:TCEHY), the social chatting platform has more than a billion users.

READ: Here are five things everyone needs to understand about Bitcoin

Cryptocurrency enthusiasts are getting into the world of trading card games.

Fuel Games, a Sydney-based start-up, has introduced an Ethereum-based trading card game called Gods Unchained, as per a CoinDesk report.

While the game has yet to launch, potential players are showing interest. A digital playing card was sold at auction for 146 ether, which was worth more than US$60,000 at the time of purchase.

For scale, the report notes that an early version of a rare Magic: the Gathering card sold for more than US$87,000 in July.

The Cann' Report

Canopy Growth Corp (CSE:WEED, NYSE:CGC) will increase its growing capacity after receiving amended licenses from Health Canada

Its Smith Falls Campus in Ontario, built on the site of a former Hershey’s factory, will nearly double its growing capacity.

In Quebec, the company will add 223,200 square feet of cultivation space at its majority-owned Les Serres Vert Cannabis Inc greenhouse.

The Canadian cannabis company will welcome visitors into the Tweed Visitor Centre in Ontario starting Saturday. Guests over the age of 19 will be able to walk along the catwalk left by the Hershey’s factory and tour specific licensed rooms.

In other Canadian cannabis news, Invictus MD Strategies Corp (CVE:GENE) has plans to spin off its vape subsidiary.

READ: Cronos shares jump after reaching supply deals in Canada

The Vancouver-based company will turn Poda Technologies into a stand-alone company valued at around US$1.9mln, according to a Marijuana Business Daily report.

Publicly-traded Canadian cannabis companies risk being delisted if they have holdings in the US, where marijuana is illegal on the federal level.

The vaporizer system manufacturer will list its common shares on the Canadian Securities Exchange separately, but its management will remain the same.

In US-related cannabis news, CROP Infrastructure (CNSX:CROP) is expanding its reach in Nevada.

The Vancouver-based company leased an additional 750 acres of contiguous agricultural farmland, bring its total Nevada acreage to around 1,065 acres.

“We are confident with over 1,000 acres that our tenant will remain the largest hemp farm in Nevada. The next phase of development will be a state-of-the-art extraction facility to make high-value CBD isolate,” said CEO Michael Yorke in the company’s press release.

Crop Infrastructure’s project portfolio includes cultivation properties in California and Washington State, Nevada, Italy and Jamaica.

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