Chinese e-commerce giant Alibaba is the next company to terminate its crypto-related services in response to ongoing crypto-related harassment in China.
Alibaba on Monday officially announced that the platform will ban the sale of crypto miners and stop using categories for miners and accessories on its website on October 8.
In addition to stopping the sale of crypto-mining units, Alibaba will ban the use of platforms to sell major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Litecoin (LTC), as well as smaller coins such as Quark (QRK).
The new restrictions include, but are not limited to, hardware and software related to cryptocurrency, as well as tutorials, tutorials, related strategies, and advertising notes.
The company warned that any sellers who continue to list cryptocurrency or related products on Alibaba platforms after October 15 will be penalized in accordance with applicable regulations. Alibaba said some of the fines listed include closing stores and freezing and closing merchant accounts for malicious evasion of the new rules, such as intentionally listing products in other categories.
The company noted that the recent changes to the guidelines are in response to compliance issues in the listing of products and transactions.
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“Members are responsible for complying with applicable laws and regulations that apply to each country of sale. We will monitor changes in policies in each country and adjust control policies accordingly,” the company said. Alibaba did not immediately respond to Cointelegraph’s request for comment.
Alibaba’s action came shortly after the Chinese government announced a series of new measures to combat cryptocurrency adoption, declaring all crypto-related transactions in the country illegal on September 24. Some services have been suspended in mainland China, and Sparkpool, the world’s second largest mining pool in Ethereum, has announced a complete shutdown.