Benzinga | Jul 27, 2021 02:59PM EDT

Tencent Halts WeChat Registrations Till Early August Amid China's Regulatory Crackdown: Bloomberg

* Tencent Holdings Ltd (OTC:TCEHY) suspended new user registrations for its WeChat services as it undergoes a technical security upgrade under relevant laws and regulations, Bloomberg reports.

* Lately, China has issued strict regulations online education industry and food delivery.

* Tencent aims to resume new WeChat registrations around early Aug.

* WeChat is China's one-stop shop for everything from hailing a cab to ordering meals and paying utility bills. It has over one billion users.

* Price action: TCEHY shares traded lower by 5.15% at $57.08.

* Photo by guangpeng from Pixabay