Alibaba is selling cryptocurrencies from mining hardware on its platform -

Alibaba, the Chinese e-commerce giant, has announced that it no longer allow the sale of cryptocurrency mining devices on its platform. The sales giant announced this yesterday on its official website. The step is a direct episode of the latest ban, which has imposed the Chinese government for trade and mining cryptocurrencies. Other institutions and stock exchanges are also affected.

Alibaba forbids ASIC Miner the turnover

alibaba, one of the largest sales companies in China, has announced, the sale of cryptocurrency miners and cryptocurrency To ban platform. The company said this was a consequence of several circulars and decisions of the People’s Bank of China and explained:

The company will end two of its product categories to apply this ban - Blockchain Miners and Blockchain Miner Accessories. The prohibition that is due to come into force on October 8 can have an impact on retail throughout Asia due to the existence of Aliexpress and Lazada, subsidiaries that expand Alibaba's domain on the entire continent.

Penalties announced

To ensure that users comply with the new guideline, Alibaba announced a number of measures to punish the sale of these articles on its platforms. The company emphasized that to punish everyone who deals with these rules, classifies cryptocurrency products in other categories, remove or delete products listed, deduct points, restrict and close the use of website functions.

The step of Alibaba results from the country's attitude, including the People’s Bank of China, which have been developing against cryptocurrencies for many years. Nevertheless, it was the latest raid that had more serious effects on important companies and stock exchanges of the industry.

huobi, one of the leading stock exchanges in Asia, it is not leave Chinese users register new accounts on their platform and announced that the accounts of existing users close the accounts in China. Since Alibaba is one of the largest e-commerce sites in the world, the impending effects of the newly implemented measures are difficult to predict.

What do you think that Alibaba prohibits the sale of cryptocurrency miners on its platform? Tell us in the comment area below.

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