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China is said set to impose new regulations on the country’s $30 billion live-streaming industry.
Chinese regulators are working on new regulations that are expected to cap internet consumers’ daily spending on digital tipping, according to a WSJ report. Officials are also looking at setting a daily limit on how much live-streamers can receive from fans and are evaluating imposing tighter censorship over content.
Some of the major live-streaming services in China include those operated by ByteDance (BDNCE), Kuaishou Technology (OTCPK:KUASF) and Huya Inc. (NYSE:HUYA), which is majority owned by Tencent (OTCPK:TCEHY).
Authorities are said to have discussed a daily limit of 10,000 yuan, or about $1,570, on the amount of gifts that live-streaming hosts can accept, according to the WSJ.
The new regulations come as China has been cracking down on different industries over the last year, though it has specifically targeted Internet companies and has set limits on how long minors can play video games.
The Cyberspace Administration of China issued fines to platforms including Tencent’s QQ and live-streamer Kuaishou (KUASF) in July for allegedly spreading sexually suggestive content involving children.
