Topic: Alipay bans bitcoin completely :recharging code Taobao shore may be banned (Read 4738 times)

Thanks for the translated news.
So now, people in China need to do p2p trades, right?

not good news but not to surprising if they are like the Paypal of China.  Not very reassuring of what is to come but it is good that we know now and not later I suppose.  Thanks for the translation and information best-miner.com

Not a big surprise. Chinese government will go much further than this. There will be one day that Huobi, OKcoin, BTC China, can't do business anymore in China due to this sanctions.

Perhaps in 2014 or early 2015 they will open their doors to worldwide customers. Imagine 0% trading fees  

looks like they scared with bitcoin popularity

Alipay has released the announcer on 25th April ,stating clearly it will not provide bitcoin and other virtual currency with recharging and withdrawing deposit service .Meanwhile ,it doesn’t allow to deal in bitcoin recharging code in Taobao .(Alipay is like chinese paypal in China)
Alipay stated that any organizations and individual don’t have to use our payment service to bitcoin ,litecoin and other trade recharge ,withdraw deposit and purchase recharging code from now on .If being found ,we will stop all service .

Alipay also emphasized it hasn’t provided any bitcoin registration ,trade ,reckoning and outturn service for the third-party ,warning clients to pay attention to bitcoin risk .
At present ,because the third-party payment recharging way has been banned ,Chinese main bitcoin trading platforms –BTC China ,okcoin and huobi.com main provide two CNY recharging ways :transferring accounts by bank and saling recharging code .Alipay may have an effect on the latter .
The vice ceo Ling kang of BTC China said on the interview that Alipay statement will not make a big effect to BTC China .He said ,whether saling BTC recharging code in any way ,it depends on merchants not BTC China .
BTC China also shows thaty 10 online shops sale BTCC recharging code , six is from Taobao .Before releasing the report ,the online shops haven’t responed anything to Taobao statement .
In advance ,Taobao has set bitcoin as search unshielded word .After the new rule has been ensured ,saling bitcoin recharging code in Taobao may be more difficult .
Compared with that ,huobi.com may face up to a more difficult problem .

At the beginning of the month ,huobi.com claimed to give up bank transferring accounts way for many banks stopped their service to bitcoin platforms .So if clients want to recharge on the platform ,they must buy recharging card from the third-party online shops .This is the main recharging way in huobi.com .
However ,huobi.com reveals today their online recharging shop still can transfer accounts by Alipay .If Alipay latest policy is confirmed ,the online shops will face up to difficulties ,threating capital inflow on huobi.com .
In addition,central bank of China discussed with some commercial banks and the third-party payment organizations how to prevent bitcoin risk ,hoping to cut off bitcoin trade funds chain completely .
According to the report ,central bank of China demands commercial banks and the third-party payment organizations to express their attitude to the public not to provide any financial service for bitcoin trade ,leading people to be far away from bitcoin trade .Maybe Alipay knows the supervision thought of central bank of China ,so it decided to ban bitcoin completely yesterday night .
Alipay also said it’s checking all bitcoin recharging code online shops ,and it will close all of them later .

Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.