This is actually a huge issue.

Essentially, now, Wechat has the power to ban any accounts which is suspected of crypto dealings. This is probably worse than even the ICO and exchange bans that we saw previously. It's a direct shot at the p2p exchange activity that is going on on platforms such as LBC.

It will be interesting to see what Chinese bitcoin users and traders will use in the future, after this official statement comes out. Perhaps, there will be a reversion to offline p2p trading, with either cash or bank transfers as the medium. But with China becoming increasingly cashless, having Wechat actively trying to flag transactions is definitely detrimental to users there.