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Central Bank of China urges banks to crack down on cryptography, Alipay

China’s central bank said Monday it urged several payment firms and banks to crack down on crypto speculation and added it to a request for restrictions from Beijing. Bitcoin And other digital currencies.

People’s Bank of China Industrial and Commercial Bank of China And that Agricultural Bank of China, And mobile payment services performed by Alipay, Alibaba The affiliate AntGroup tells us that we must not provide crypto-related services.

Comments reinforce Beijing’s hard line on cryptography. In 2017, the Chinese government Prohibition of so-called initial coin offering, How to raise funds by issuing new digital tokens.Authorities are also cracking down on businesses involved in cryptocurrency, including: Local exchange..

May, China Said Financial institutions and payment companies have been banned from providing services related to cryptocurrency transactions.

Alipay said on Monday that it would “continue a comprehensive investigation and strike against cryptocurrency transactions” and “strengthen” its crackdown on cryptocurrencies.

According to an English translation of a post on social media site Weibo, “Alipay repeatedly does not engage in or participate in cryptocurrency-related business activities, nor does it provide technical services or features of its assistants.”

“Alipay will immediately suspend payment services related to cryptocurrency transactions it discovers. Alipay will ensure that all merchants involved in cryptocurrency transactions are removed.”

Bitcoin price It fell to a two-week low On Monday, there was news that China’s crackdown on cryptocurrency mining extended to the southwestern part of Sichuan Province, which is known for its abundant hydropower resources.

–CNBC’s Arjun Kharpal contributed to this report.

Central Bank of China urges banks to crack down on cryptography, Alipay

Source link Central Bank of China urges banks to crack down on cryptography, Alipay

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