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Alibaba to shut off sales of cryptocurrency mining equipment from next month

Alibaba
Alibaba

Alibaba, Chinese e-commerce giant, has disclosed that, beginning on October 8, it will stop the sales of cryptocurrency mining equipment on its platform.

This raised from the renewed cryptocurrency crackdown as the platform cited recent pronouncements from China’s central bank and other surveillance bodies in the country.

Alibaba revealed:

After thorough evaluation, taking into account the instability of laws and regulations on virtual currencies and relevant products in various international markets, Alibaba.com will prohibit the sale of virtual currency miners in addition to the prohibition against selling virtual currencies such as Bitcoin, Litecoin, BeaoCoin, QuarkCoin, and Ethereum, which include but are not limited to: 1) Hardware and software used to obtain virtual currencies such as Bitcoin miners ; 2) Tutorials, strategies, and software for obtaining virtual currencies such as tutorials on mining.

The platform also said that it would shut off two sales sectors associated to mining.

China’s crackdown on mining had occurred severally especially earlier this year that resulted in the exit of some mining corporations from the country. The lockout appears to be accelerating quickly, as shown by developments like the service shutdown of Hangzhou-based Sparkpool, an Ethereum mining pool company.

 

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