China’s Alibaba announces ban on all crypto mining rigs and virtual currencies

China’s biggest seller of mining gears Alibaba announces ban on all crypto mining rigs

In a recent announcement on their website, Alibaba the ecommerce giant based in china has officially declared ban on anything cryptocurrency related on its platform.

This is coming on the heels of the current crackdown of the Chinese government on crypto miners in the country, Just recently the government declared ban on bitcoin and anything that has to do with mining.

Following the regulators footsteps the ecommerce giant has evaluated the volatile nature of laws regulation the used of digital assets and cryptos and has decided that to be on the safer side that it will delist all crypto related categories on its platform.

The announcement was made today, but the ban will officially take place on the 8th of October 2021, this is to give some time for the merchants on the website to take down all their products so as that they don’t get sanction on the Alibaba platform.

According to the announcement, Alibaba now prohibits the sale of cryptocurrency mining rigs and has also completely banned all virtual currencies on its platforms, including Bitcoin, Litecoin and Ethereum.

What do you think of this china’s constant fight against bitcoin and crypto in general?

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