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So does this ban transactions with all of Tencent or just those in relation to WeChat? https://www.whitehouse.gov/presidential-actions/executive-order-addressin

by gzu 6y ago

So does this ban transactions with all of Tencent or just those in relation to WeChat? https://www.whitehouse.gov/presidential-actions/executive-order-addressing-threat-posed-wechat/ https://www.whitehouse.gov/presidential-actions/executive-or... Section 1. (a) The following actions shall be prohibited beginning 45 days after the date of this order, to the extent permitted under applicable law: any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction of the United States, with Tencent Holdings Ltd. (a.k.a. Téngxùn Kònggǔ Yǒuxiàn Gōngsī), Shenzhen, China, or any subsidiary of that entity, as identified by the Secretary of Commerce (Secretary) under section 1(c) of this order.

obmelvin 6y ago
Similarly, and I honestly feel a bit silly asking this, but does this ban US investors from purchasing Tencent stock? It doesn't seem so - are these literally just bans on app transactions? Or does this also mean that, for example, WeChat couldn't host infra on Azure in Africa?
cjbprime 6y ago
And what's a "transaction"?
- bleepblorp 6y ago
  Payment.
  - bigpumpkin 6y ago
    Time for Tencent cryptos
- runawaybottle 6y ago
  Micro transactions in Tencent’s games? Who knows. Tencent owns 40% of Epic Games, which owns Fortnite and the Epic Games store. This might be a symbolic move more then anything, because unless they intend to be rigorous about Tencent’s connections with all these companies (e.g Can’t buy anything on Epic’s store, or make micro transactions in games from companies owned by Tencent), they really are not stopping anything. Your purchases through Epic or Riot (League of Legends, Valorant) are not seen as ‘direct’ transactions with Tencent. Basically it’s exactly the kind of grandstanding Trump would partake in.
neves 6y ago
You won't be able to play overwatch anymore.
- hkmurakami 6y ago
  I think you're thinking of league of legends, unless they also have a controlling stake in Activision. I believe their stake a Activision is very much a minority position.
  - aquova 6y ago
    Correct, I believe they hold 5% in Activision Blizzard.
  - hnick 6y ago
    Fortnite is probably the biggest thing impacted by this if true. Edit: Tencent related gaming companies apparently not impacted. https://twitter.com/SamAugustDean/status/1291576813685108736 https://twitter.com/SamAugustDean/status/1291576813685108736 "White House official confirmed to the LA Times that the EO only blocks transactions related to WeChat"
- ekianjo 6y ago
  Overwatch is Blizzard, not Epic.
Deimorz 6y ago
Did you edit in the quote from the EO after? It specifically says "any transaction that is related to WeChat". The TikTok/ByteDance order doesn't include a "related to" qualifier like that, the same section in it just says: any transaction by any person, or with respect to any property, [...] with ByteDance Ltd. It's still not clear what exactly that will mean, but the intention definitely seems to be to restrict it to WeChat and not hit everything from Tencent.
- deleted 6y ago
  [deleted]
hnick 6y ago
They have since clarified, only WeChat apparently https://twitter.com/SamAugustDean/status/1291576813685108736 https://twitter.com/SamAugustDean/status/1291576813685108736
- gzu 6y ago
  Perhaps this was intentionally vague requiring clarification by WH? Everyone tonight learned how much of our media is owned by Tencent.
  - perennate 6y ago
    I don't think it was vague, the executive order stated: > The following actions shall be prohibited beginning 45 days after the date of this order, to the extent permitted under applicable law: any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction of the United States, with Tencent Holdings Ltd. (a.k.a. Téngxùn Kònggǔ Yǒuxiàn Gōngsī), Shenzhen, China, or any subsidiary of that entity, as identified by the Secretary of Commerce (Secretary) under section 1(c) of this order.
Markoff 6y ago
considering the "OR" I would assume it includes any transaction with Tencent Holdings Ltd. including their games, QQ etc.

by gzu 6y ago

obmelvin 6y ago

Similarly, and I honestly feel a bit silly asking this, but does this ban US investors from purchasing Tencent stock? It doesn't seem so - are these literally just bans on app transactions? Or does this also mean that, for example, WeChat couldn't host infra on Azure in Africa?

cjbprime 6y ago

And what's a "transaction"?

bleepblorp 6y ago
Payment.
- bigpumpkin 6y ago
  Time for Tencent cryptos
runawaybottle 6y ago
Micro transactions in Tencent’s games? Who knows. Tencent owns 40% of Epic Games, which owns Fortnite and the Epic Games store. This might be a symbolic move more then anything, because unless they intend to be rigorous about Tencent’s connections with all these companies (e.g Can’t buy anything on Epic’s store, or make micro transactions in games from companies owned by Tencent), they really are not stopping anything. Your purchases through Epic or Riot (League of Legends, Valorant) are not seen as ‘direct’ transactions with Tencent. Basically it’s exactly the kind of grandstanding Trump would partake in.

neves 6y ago

You won't be able to play overwatch anymore.

hkmurakami 6y ago
I think you're thinking of league of legends, unless they also have a controlling stake in Activision. I believe their stake a Activision is very much a minority position.
- aquova 6y ago
  Correct, I believe they hold 5% in Activision Blizzard.
- hnick 6y ago
  Fortnite is probably the biggest thing impacted by this if true. Edit: Tencent related gaming companies apparently not impacted. https://twitter.com/SamAugustDean/status/1291576813685108736 https://twitter.com/SamAugustDean/status/1291576813685108736 "White House official confirmed to the LA Times that the EO only blocks transactions related to WeChat"
ekianjo 6y ago
Overwatch is Blizzard, not Epic.

Deimorz 6y ago

Did you edit in the quote from the EO after? It specifically says "any transaction that is related to WeChat". The TikTok/ByteDance order doesn't include a "related to" qualifier like that, the same section in it just says: any transaction by any person, or with respect to any property, [...] with ByteDance Ltd. It's still not clear what exactly that will mean, but the intention definitely seems to be to restrict it to WeChat and not hit everything from Tencent.

deleted 6y ago
[deleted]

hnick 6y ago

They have since clarified, only WeChat apparently https://twitter.com/SamAugustDean/status/1291576813685108736 https://twitter.com/SamAugustDean/status/1291576813685108736

gzu 6y ago
Perhaps this was intentionally vague requiring clarification by WH? Everyone tonight learned how much of our media is owned by Tencent.
- perennate 6y ago
  I don't think it was vague, the executive order stated: > The following actions shall be prohibited beginning 45 days after the date of this order, to the extent permitted under applicable law: any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction of the United States, with Tencent Holdings Ltd. (a.k.a. Téngxùn Kònggǔ Yǒuxiàn Gōngsī), Shenzhen, China, or any subsidiary of that entity, as identified by the Secretary of Commerce (Secretary) under section 1(c) of this order.

Markoff 6y ago

considering the "OR" I would assume it includes any transaction with Tencent Holdings Ltd. including their games, QQ etc.