Alipay Will Block All Bitcoin Transactions
Main page News, China, Cryptocurrency
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Oct. 11, 2019
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The payment system has just announced it will block all transactions related to bitcoin and other cryptos.

Alipay has said through its official Twitter account that it monitors over-the-counter transactions and does not allow any behavior against current regulations:

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

Binance CEO has recently published a screenshot stating that Alipay and WeChat can be used on the platform to make transactions. In particular, Binance has reported that its Chinese users can make deposits through Alipay for P2P trading.

Crypto exchanges have been banned in China since late 2017. However, residents in the country make use of P2P and OTC platforms to buy bitcoin and bypass this restriction.

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