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16/09/2024
Monday
THIS DAY IN HISTORY:
16 September 
1970 "Black Wednesday" of the British pound sterling.
1970 The Montreal Treaty for the Protection of the Earth's Ozone Layer was signed.
1970 Mexico declared independence from Spain.
16 September
1970 "Black Wednesday" of the British pound sterling.
1970 The Montreal Treaty for the Protection of the Earth's Ozone Layer was signed.
1970 Mexico declared independence from Spain.
Alibaba stops sales of crypto mining equipment
The Chinese corporation Alibaba has announced that it will ban the sale of cryptocurrency mining equipment on its platform from October 8. The distribution of training materials and software will also be limited.
Restrictions will affect all materials and equipment provided for mining bitcoins, ether, lightcoins and other cryptocurrencies. The company's decision is related to the government's policy aimed at banning digital currencies in China.
The company has warned platform sellers that if they try to hide mining products in other categories or distort product information, they will face fines and removal. What is more, Alibaba will begin to restrict the functions of the website, write off points and close accounts for violations.
As one of the reasons for the strict measures, it was noted that crypto farms consume a lot of energy, and this is at odds with China's goals to reduce emissions.
Restrictions will affect all materials and equipment provided for mining bitcoins, ether, lightcoins and other cryptocurrencies. The company's decision is related to the government's policy aimed at banning digital currencies in China.
The Chinese authorities believe that cryptocurrencies lead to financial risks in the economy.
A week earlier, the Central Bank of China stated that trading in the market of cryptocurrency, issuing tokens and derivatives would be strictly prohibited. At the same time, Alibaba noted that it would adjust the policies of its platforms in other countries to comply with the control regulations.The company has warned platform sellers that if they try to hide mining products in other categories or distort product information, they will face fines and removal. What is more, Alibaba will begin to restrict the functions of the website, write off points and close accounts for violations.
At the end of May 2021, the Chinese authorities announced that control over mining and crypto trading should be tightened.
After that, the provinces began to impose numerous bans, and crypto entrepreneurs began to actively leave the country. Now, crypto business in China is completely banned, up to the services of crypto exchanges.As one of the reasons for the strict measures, it was noted that crypto farms consume a lot of energy, and this is at odds with China's goals to reduce emissions.
30.09.2021
