Alibaba has banned the sale of crypto miners

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China-based e-commerce company Alibaba has banned the sale of cryptocurrency miners on its website.

Alibaba will close two categories

Alibaba’s announcement says two categories will be closed: blockchain miners and blockchain miner accessories.

The ban means that vendors will be prohibited from selling technology and software, as well as tutorials and strategies.

Alibaba will also ban the sale of cryptocurrencies, including Bitcoin, Litecoin, BeaoCoin, QuarkCoin, and Ethereum, although it does not appear that the cryptocurrency is currently being sold on the site.

The company cited various regulations as the reason for its bans, including the 2015 Bitcoin Risk Prevention Notice and the 2017 Announcement on Preventing Financial Risks from Initial Coin Offerings.

The event is the latest in a series of crackdowns in China, including the country’s decision to ban most cryptocurrency transactions and deny access to crypto market sites.

The application will start in October

Alibaba says the new policy will take effect on October 8. At present, several mining products are still listed on the site.

The policy will be enforced through write-offs, point deductions, website restrictions and account closings.

Despite Alibaba’s decision to halt the sale of crypto miners, it could be invested in cryptocurrency. It was rumored that he would invest $ 20 million in Bitcoin in May, although the rumor was never confirmed.

Its subsidiary, Alipay, also began coordinating the sale of non-fungible tokens (NFTs) from June.

Disclaimer: At the time of writing, this author held less than $ 75 worth of Bitcoin, Ethereum, and altcoins.

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