Alipay Payment Network Promises to Block Bitcoin-Related Transactions

One of the largest payment systems in China, Alipay, has announced its intention to block any payments related to Bitcoin and other cryptocurrencies.

The fact that Alipay will become one of the gateways through which users from China will be able to buy bitcoin the day before was announced by the head of the Binance exchange, Changpeng Zhao. However, the company itself refutes this possibility.

If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.

– Alipay (@Alipay) October 10, 2019

“There have been reports that Alipay is used for bitcoin transactions. We want to emphasize that we closely monitor all OTC transactions in order to identify suspicious behavior and ensure legal compliance with applicable rules. If any transaction is determined to be related to Bitcoin or other virtual currency, Alipay will immediately stop providing the relevant payment services, ”the company wrote on Twitter.

In China, the activity of cryptocurrency exchanges has been officially banned since the end of 2017. However, residents of the country are actively using P2P and OTC platforms to buy bitcoin.

Another WeChat Pay payment system mentioned by the main Binance earlier this year promised to remove the profiles of merchants involved in bitcoin trading using the WeChat Pay system. This was preceded by the blocking of cryptocurrency and blockchain related accounts, including Bitmain.

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