Ex Pi

Amid increasing control and crackdown on the cryptocurrency industry in China, e-commerce giant Alibaba is the next company to stop providing services related to electronic assets.
Alibaba has officially announced that it will ban the sale of mining devices and suspend the use of categories for blockchain miners and accessories on its website on October 8.
In addition to halting the sale of cryptocurrency mining devices, Alibaba will ban the use of its platforms to sell major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and smaller coins like Quark (QRK).
The new restrictions include, but are not limited to, hardware and software related to crypto mining, as well as related tutorials, guides and strategies, announcement notes.
The company has warned that any merchants who continue to list crypto miners or related products on Alibaba platforms after October 15 will be subject to fines, including blocking stores, freezing and closing trading accounts for maliciously evading new rules, such as deliberately posting relevant products in other categories.
The company noted that the latest policy changes are in response to compliance issues in product listing and transactions.
“Members are responsible for complying with the applicable laws and regulations applicable to any country of sale. We will track policy changes in each country and adjust our control policies accordingly. "
Similar measures were undoubtedly taken shortly after the Chinese government announced a number of new measures to combat cryptocurrency adoption, declaring all cryptocurrency-related transactions in the country illegal on September 24. In response to renewed cryptocurrency crackdowns, major cryptocurrency exchanges such as Binance and Huobi subsequently shut down some services in mainland China, and Sparkpool, the world's second largest Ethereum mining pool, announced a complete shutdown.