Alibaba will stop selling specialized mining equipment on its platforms

Syed AhadWeb Editor

28th Sep, 2021. 07:40 pm


From Oct. 8, E-commerce hulk Alibaba will stop selling specialized mining equipment on its platforms.

Alibaba stated its decision was in reply to the most recent People’s Bank of China (PBoC) policy circular on cryptocurrency trading as well as a 2017 circular.

The notice, signed by some of China’s top financial regulators and issued, banned all cryptocurrency trading-related activities in the state.

But the company stated it is too taking into account the “instability of laws and regulations” on cryptocurrency globally.

Alibaba will close two categories: “Blockchain Miner Accessories” and “Blockchain Miners.”

The e-commerce giant stated that in addition to a prohibition on mining rigs and related accessories, it is too pursuing a ban on the sale of cryptocurrencies including bitcoin, litecoin, beaocoin, quarkcoin, and ether.

Any sellers that list such products on their podiums after Oct. 15 will face consequences.

Alibaba operates numerous platforms in China, including Taobao and the used goods market Xianyu. But it is too the group behind international online shopping platforms including Aliexpress and Southeast Asia’s Lazada.

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