STEPN Bans Users From China, Tokens Price Drops
- Only 3% of the STEPN user population belongs to China.
- GMT & GST price drops as the effect of the functionality stops.
STEPN dapp is planning to prohibit the users from mainland China as the aftereffect of the ban on crypto activities in the nation. The app recently updated its user base record in which they found out only 50K were from China, in the total count of 3 million users, and is planning to bring that to practice from July 15, 2022.
STEPN tweets:
1/ 關於清查中國大陸帳戶的公告
尊敬的STEPN用戶：
為積極主動響應相關監管政策，STEPN將對軟體用戶進行清查，若發現中國大陸地區用戶，則STEPN將依據使用條款對其賬戶於2022年7月15日（UTC+8）24:00 停止提供GPS及IP位置服務。— STEPN | Public Beta Phase IV (@Stepnofficial) May 26, 2022
STEPN is a move-to-earn (M2E) NFT game project running on the Solana blockchain created by FindSatoshi Lab, an Australian fintech studio. The Beta version of this M2E project was launched in late December 2021 available for iOS and Android users.
After Effect of STEPN
In the tweeted threat, STEPN has mentioned that users accessing or operating the app using a VPN, is at their own risk, and the official support will not be provided. The firms portray themselves to be obedient to the rules and regulations of the jurisdiction.
Due to this, the tokens GMT and GST have made a price drop, the current price of GMT is $1.11 which is a 4.77% fall in 24 hrs, and GST is $1.86 which is an 11.24% fall in 24 hrs, data according to CMC.
