Alipay will ban crypto commerce on its platform
The Chinese mobile payment application will restrict cryptocurrency transactions and will review websites and key accounts
Like other countries in America and Europe, China is taking measures to control trade in cryptocurrencies. In this regard, the well-known mobile payment application Alipay will review the exchanges in Bitcoin OTC as reported on the Beijing News website on August 24.
The platform led by Alibaba Ant Financial reported that it plans to restrict and even block user accounts that use it for transactions with Bitcoin OTC, in addition to reviewing websites and key accounts.
The measure is just one of the many against the cryptocurrencies that China is taking. It was learned that even an event related to cryptoactives was banned this week in the Chaoyang district of Beijing.
The Beijing News site also reported that a risk prevention program will be implemented to keep the users aware about the risks of accepting false advertising related to the subject.
Regulations in China will be sharpened in the coming weeks to prevent users from becoming victims of fraud and theft, as well as restricting digital channels of transactions.
M.Pino
Source: Cointelegraph
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