Alibaba announced officially that they will block any kind of crypto mining equipment from their platform.
Alibaba is a Biggest e-commerce website of china and its network is spread in other countries. Almost all kinds of products can be seen on the e-commerce website. As we know China was a big hub in the past for crypto miners and crypto mining companies, so most of the people were buying crypto mining equipment from Chinese websites, and Alibaba was also one of them, which was giving facility for mining equipment sales.
But in a recent announcement, Alibab confirmed that they will no longer allow such kinds of products, which are related to crypto services. And the block of such kinds of items sales will take into effect from 8 October 2021.
Company also explained that they will block sales in the two categories, added
“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 decision of Alibaba is because of the renewed crackdown of China ban on crypto mining & crypto services. And here Alibaba is going to follow all the rules of Local government in order to not to face any scrutinities issues in future.
When China announced ban on crypto mining and trading in May, most of the mining firms shifted to other countries, but here Alibaba is online and the mainland of the website is China, so they are bound with the rules.
Read also: Humanoid robot AI will use Cardano Blockchain