Alipay, the digital payment arm of Chinese e-commerce giant Alibaba, has declared that it prohibits all transactions related to Bitcoin (BTC) and other cryptographic currencies.
October 10, Alipay reiterated its anti-crypto position in the Twitter thread, which warned that the company closely monitors over-the-counter transactions in order to identify irregular behavior and ensure compliance with applicable laws.
This move stems from various reports that Alipay is used in BTC transactions.
On October 9, the main cryptographic exchange Binance confirmed on Twitter that it had started accepting fiat currencies through Alipay's online payment service and WeChat's mobile messaging and payment application.
Binance CEO Changpeng Zhao, also known as CZ, explained that the exchange does not work directly with WeChat or Alipay, and users can still use it in peer-to-peer transactions.
Originally founded in China in 2017, Binance made its first strategic investment in crypto and blockbuster publication of Mars Finance in mid-September. At that time, the cryptographic community expected China's People's Bank to launch its own digital central bank currency (CBDC).
However, at the end of September, the bank shattered these expectations, claiming that there was no specific date for the launch of CBDC and denying that the country was ready to launch a new financial asset.
