AliPay Payment Platform Bans Crypto Transactions, Embarrassing Binance Founder
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Answer AliPay Payment Platform Bans Crypto Transactions, Embarrassing Binance Founder
Binance revealed a new trading platform for Chinese users based on peer-to-peer “P2P” technology, which we have already talked about in the topic:
Binance launches a new service for buying and selling digital currencies between individuals (P2P)
Mr. CZ, CEO of Binance, said that two fiat coins have been added for Chinese customers to be able to buy Bitcoin.
This is through the popular peer-to-peer platforms in China, which are Alipay and WeChat.
“CZ” statement, which he posted on Twitter, in which he expressed the acceptance of “Alipay” and “WeChat” coins and the possibility of buying bitcoin through them, indicating the need to confirm the news.
yes
Read:Poll: Retail investors are more bullish on ADA than BTC
– CZ Binance (@cz_binance) October 9, 2019
To receive a public refusal of the demand on Twitter by the “Alipay” service, which stated that:
“No, you can’t.”
No you can’t.
– Alipay (Alipay) October 10, 2019
Alipay said it will immediately stop Bitcoin-related payment services.
What shows the level of competitiveness, how the new Binance platform, which was born just two years ago, was able to sit on the top of the trading platforms in terms of trading volume, as it seizes, day after day, the shares of its competitors by adding their advantages.
This was explained by the companyBe happy“The Chinese are monitoring transactions to identify illegal behavior and ensure compliance with relevant regulations.
And if any transactions linked to cryptocurrencies such as bitcoin are discovered, Alipay says it will “immediately stop” such services.
An official statement was also shared on the Weibo account, which translated to the fact that the company will “firmly crack down” on any accounts suspected of being “virtual currency transactions.”
Read:Three reasons why the cryptocurrency “Stellar” XLM increased by 166% in less than a week
On the other hand, Dovey Wan, one of the prominent Chinese activists on the crypto arena, indicated that the “Alipay” platform is under pressure from the Chinese government.
She indicated that there is a drying up of payment channels that accept Bitcoin
In addition to several strict measures taken by the Chinese police towards crypto transactions.
Alipay has officially reaffirmed the “Out-Exchange Cryptocurrency Trading Ban” on its Weibo website today (machine translation below)
Read:Top 25 Cryptocurrency Trading Platforms for 2022 (Attached with Comparative Charts).
Starting in August, China’s OTC market slowed down a bit due to various measures taken by both payment channels and local police pic.twitter.com/z3ZqzyJpvn
🗝 🦖 (DoveyWan) October 10, 2019
Read also:
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Binance intends to attract crypto whales through the “Market Maker” program
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