0
📰 News
546 views

Bitcoin-Related Transactions to Be Banned by Alipay as China Continues Its Anti-Crypto War

  • Yuri Molchan
    📰 News

    Chinese Alipay payment provider promises to shut down all transactions related to Bitcoin or any other crypto on it

Bitcoin-Related Transactions to Be Banned by Alipay as China Continues Its Anti-Crypto War
Cover image via news.u.today

China declared war on crypto back in 2017 when it imposed a ban on ICOs. Local crypto exchanges became the next ‘victim’ of the Chinese authorities.

However, at the moment the Chinese Central Bank (the PBOC) is working on its own, yuan-backed digital currency.

Many experts, such as angel investor Anthony Pompliano and Ripple CEO Brad Garlinghouse, have pointed out that China may gain leadership in the industry of digital central bank currencies along with all other benefits that would follow. That may happen, they say, unless the US government creates its own digital USD or allows Facebook to launch Libra.

Following the policy of its government, the branch of the Alibaba Group giant, Alipay, now warns that should its operators spot any transactions related to Bitcoin or other crypto, payment services on them will be immediately stopped.

Last year, Alipay banned all OTC trading accounts to do with Bitcoin.

👉MUST READ

Bitcoin Price Could Be Headed Further Down, Forbes Analyst Says

Bitcoin Price Could Be Headed Further Down, Forbes Analyst Says

Do you believe that ‘China Coin’ will allow China to take the status of the world economic leader from the US? Feel free to tell us in the comments!

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles
0
📰 News
158 views

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

👉MUST READ

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings