The planned stake purchase in French firm Ubisoft would be Tencent's latest major foreign deal since a regulatory crackdown in late 2020

The platform known as Huanhe, or Magic Core, is the latest victim of Beijing's crackdown on NFT trading, Jiemian.com said, citing Tencent insiders

The China State Administration for Market Regulation, which is responsible for stopping monopolistic behavior, has fined Alibaba, Tencent and numerous other companies.