Bitcoin and Crypto Transactions Banned by Alipay

The digital payment branch of the Chinese e-commerce behemoth Alibaba, Alipay, has officially banned all bitcoin and crypto transactions.

51% Attack Solutions Lead to More Centralization According to Core Dev
Wednesday October 09, 2019

Greg Maxwell, a Bitcoin Core developer has recently criticized the overwhelming fearmongering in case of a 51% attack.  The expert states that all of the panic for such an attack on the bitcoin blockchain, is raised by people with a fundamental lack of understanding about bitcoin itself. Maxwell’s Reddit post was published last week and

There're several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. [cont'd…]
— Alipay (@Alipay) October 10, 2019

FinCEN Boss: American Regulators to Strictly Enforce AML in Crypto Industry
Monday November 18, 2019

The post FinCEN Boss: American Regulators to Strictly Enforce AML in Crypto Industry written by Richard Kastelein appeared first on Blockchain News – Blockchain News and Opinion – Tokenomics, Cryptoeconomics The American government plans to crack and enforce new rules that will require cryptocurrency exchanges and wallet providers to share information about their customers, Kenneth

Yesterday, Alipay’s anti-crypto views were shared in a Twitter thread. The thread, which was met with huge disapproval, warned that the company is currently monitoring all over-the-counter (OTC) transactions closely. Monitoring is this strict in order to quickly identify “irregular” behaviour and ensure compliance with relevant regulations.
The official statement regarding cryptocurrencies is:
“If any transaction is identified as being related to bitcoin or other forms of digital currencies our company immediately stops the relevant payment services.”
A lot of experts have speculated that Alipay’s recent harsh anti-crypto stance is due the rumors that Alipay’s services have been used for BTC transactions for quite a while now.
Earlier this week, Coinstaker reported that Binance had officially confirmed that Alipay and WeChat were to be used by the crypto exchange in order to accept fiat currencies.
The move to ban bitcoin and crypto transactions comes at a peculiar time
The statement from Binance was quickly followed by a clarification by the CEO, Changpeng Zhao, which made widely known that Binance is currently not working directly with either WeChat or Alipay. He also stated that users are still able to use them for peer-to-peer (P2P) transactions.
Binance also revealed a lot of new features over the last few months with the most exciting probably being the Binance Market Maker program.
This new program has the aim to invite top-tier liquidity providers to the exchange. According to Binance, a “top-tier liquidity provider” is a trader whose 30-day trading volumes exceed 1000 BTC or can achieve the same volumes. Members of the new program will enjoy trading fee reductions combined with higher API limits.
You can also check out:

Bitcoin Blenders Are Enforcers of Decentralization
Offline Transactions Will be Pivotal for Mass Adoption
GK8: Israeli Startup Develops a System for Offline Crypto Transactions
Kraken Bug Allowed the Purchase of Bitcoin Below Market Price

Wanxiang Blockchain and PlatON Launch Consortium Blockchain Infrastructure in China
Monday October 07, 2019

The post Wanxiang Blockchain and PlatON Launch Consortium Blockchain Infrastructure in China written by Richard Kastelein appeared first on Blockchain News – Blockchain News and Opinion – Tokenomics, Cryptoeconomics Non-profit research institution focusing on blockchain technology Wanxiang Blockchain, and PlatON, the pioneering global privacy-preserving computing network announced the launch of an open-source consortium blockchain infrastructure,

The post Bitcoin and Crypto Transactions Banned by Alipay appeared first on CoinStaker | Bitcoin News.