Chinese technology giant Alibaba announced (opens in new tab) today that it would prohibit the sale of all goods and services related to cryptocurrency mining. This decision comes after the People's Bank of China announcement that all crypto-related transactions are illegal.
Alibaba is China's biggest e-commerce platform and generally a huge technology influencer. The official company announcement came after the People's Bank of China, the official financial institution of China, decided to make all crypto-related transactions illegal.
Alibaba announced that all crypto-related sales would be treated as sales of illegal items starting on October 8, 2021. The mandate covers all virtual currency miners and services related to virtual currencies such as Bitcoin, Litecoin, BeaoCoin, QuarkCoin, Ethereum, and others.
The ban also covers any hardware or software used to obtain these virtual currencies, in addition to any tutorials about cryptocurrency. Further, the company also closed the 'Blockchain Miner Accessories' and 'Blockchain Miners' categories.
The ban becomes effective on October 8, and it's clear that the Chinese government wants to remove any traces of cryptocurrency from the country, even blocking tutorials and other written instructions on how to mine the currency, which is a clear strike to censor any and all information pertaining to cryptocurrencies.