Alibaba suspends sale of mining hardware

China's largest online retailer Alibaba has confirmed that it will suspend the sale of any crypto-mining machines along with other crypto-related activity, such as tutorials or currencies.

The move comes in support of the People's Bank of China's decision to ban all crypto operations.

Alibaba follows in the footsteps of others, including Bitmain, one of the biggest makers of Bitcoin (BTC) mining hardware, which also discontinued operations in the country.

Alibaba's announcement reads that all sales of mining hardware will now be discontinued and the use and sale of currencies such as BTC, Litecoin, BeaoCoin, QuarkCoin and Ethereum will stop in the coming days.

Alibaba will introduce the ban as of October 8 but no serious consequences will be taken against offenders until October 15, the company explained.

China's shut down of cryptocurrencies is not new and when Beijing issues a change in regulatory guidelines, private businesses tend to follow without questioning it.

Alibaba is likely to discontinue the sale of hardware across its subsidiaries in Asia, including Aliexpress and Lazada both inside the country and abroad.

The change in regulation has already prompted many companies to discontinue operations in the country, including Ethereum mining pools Sparkpool and Beepool.

The broader ban against crypto coincides with Beijing's hopes to push for a mass adoption of the country's digital yuan.

Cryptocurrencies continue to be used for gaming and entertainment outside of China. You can use your BTC at Bitcasino.io, 1xBit or FortuneJack.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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