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Home Crypto News Market Amid Chinese Crackdown, Alibaba Bans All Cryptocurrency Miner Sales On Its Platform

Amid Chinese Crackdown, Alibaba Bans All Cryptocurrency Miner Sales On Its Platform

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Recent weeks have seen the Chinese government intensify its anti-cryptocurrency campaign. 

Alibaba officially announced Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. 8.



From October 8, sellers won’t be able list cryptocurrency miners on Alibaba. Accessories that are attached to miners will also be prohibited, along with any materials that teach users how to mine cryptocurrency. 

 

Orders placed between September 28th and October 8 will be processed. However, they must be shipped by January 2022. Sellers cannot receive payment for orders placed after October 8.

All items listed under the crypto, blockhain categories above will be removed automatically by Alibaba starting October 15.  Alibaba will also remove all ads of the above categories. Failure to comply with Alibaba’s new rules can result in account closures, fines, restrictions and even complete shutdowns. Alibaba has also banned the sale of cryptocurrency like Bitcoin and Ethereum.

 

China made all cryptocurrency transactions illegal after cracking down on mining facilities within its borders. Alibaba, an e-commerce giant, has taken sweeping measures to further discourage minors from China.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.

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