It was announced today that Alipay, the digital payment provider for Chinese eCommerce giant Ali Baba, will ban any transaction related to Bitcoin or any other cryptocurrency.
Alipay who’s been quite apparent with their anti-crypto stance, tweeted that they will be closely monitoring the over the counter transactions to help identify irregular behavior and ensure regulations and compliance.
This move comes shortly after reports that Alipay is being used for Bitcoin transactions.
Binance Using Alipay
Binance recently confirmed that their exchange would be accepting fiat currencies through Alipay , however the CEO of Binance Changpeng Zhao also clarified that they’re not working directly with Alipay and WeChat as users will still be able to utilize them for person-to-person transactions.
Last week the Chinese government decided to shutdown many blockchain and cryptocurrency related news outlets on the WeChat platform due to regulatory agencies issuing warnings against any sort of cryptocurrency related activities.