The digital payment branch of the Chinese e-commerce behemoth Alibaba, Alipay, has officially banned all bitcoin and crypto transactions.
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Wednesday October 09, 2019
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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
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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.
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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.