Alipay and WeChat to Block Crypto Payments
August 27, 2018
Operators of the leading payment services Alipay and WeChat, namely, AntFinancial and Tencent, are going to block crypto transactions.
The WeChat company board, along with its competitor Alipay, told, its payment operator Tencent will be blocking transactions involving digital currencies. The company also noted that it plans monitoring its customers’ transactions regularly regarding their relation to cryptocurrencies.
The fact that large organizations like WeChat and Alipay have resorted to collaborating with state regulators as far as blocking and restricting crypto transactions are concerned bodes no good for digital currency users from China.
Earlier the Beijing authorities banned any marketing activities related to cryptocurrencies like promotion banners and crypto events in offices, universities and other public institutions.