Bitcoin mining hardware for sale alibaba

According to a press release published by the publicly-listed company, the prohibition covers crypto-related software, tutorials and strategies. Alibaba noted that the measure will take effect on October 8, Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a system of checks and balances that prevents fraud and inefficiencies. Additionally, this also ensures cooperation with federal financial regulations with the ultimate goal of protecting the public and provide needed information to governmental agencies to stop fraud, money laundering, and terrorist funding.

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WATCH RELATED VIDEO: First ever to buy a AntMiner From Alibaba! Is it worth it?!

Alibaba crypto miner

The e-commerce company released a statement announcing its decision to delist all Bitcoin mining equipment from its platforms, including subsidiary websites like Taobao, Tmall, AliEXpress, and The delisting would remove items like tutorials, strategies, and softwares for digital trading and mining from the websites.

The statement released by the company stated,. Orders placed till October 8 will be shipped before January 8, Failure to comply would incur heavy penalties including but not limited to blocking stores, restriction to access website products and features, and freezing seller accounts. Alibaba has already been down the crypto-ban road previously. The statement has snuffed out all glimmers of hope for many crypto traders and exchanges operating in the country.

Both Huobi and Binance, two of the largest crypto exchanges in the world, have responded by deciding to end all crypto activities in the country by the end of the year.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Amara is a graduate in Business Management, and has been following the world of crypto since Having a keen eye for detail, Amara enjoys finding breaking stories via Twitter, official press releases and website blog posts. Outside of crypto, Amara enjoys rock climbing, dancing and spending time with her siblings.

Home business. Share on Facebook. Share on Twitter. The statement released by the company stated, "After a thorough evaluation, taking into account the instability of laws and regulations on virtual currencies and relevant products in various international markets, Alibaba.

Tags: Business. Amara Khatri Amara is a graduate in Business Management, and has been following the world of crypto since Recent News. Connect with us. Thank you for subscribing!

Confusion reigns after China slams door on crypto

Chinese e-commerce giant Alibaba has announced to wrap its cryptocurrency-related services in response to the ongoing crypto crackdown in China. Alibaba officially announced Monday that its platform would prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. The new restrictions involve but are not limited to crypto mining-related hardware and software, as well as relevant tutorials, guides, and strategies, the announcement notes. Some of the listed penalties include blocking stores, freezing, and closing merchant accounts for maliciously evading the new rules like intentionally placing relevant products into other categories, Alibaba said.

Alibaba, the Chinese e-commerce giant, has announced it will no longer allow the sale of cryptocurrency mining gear on its platform. The sales .

Alibaba Has Banned Selling Of Crypto Mining Hardware Amid China’s Crackdown

Chinese e-commerce giant Alibaba said Monday that, beginning on October 8, it will halt the sales of cryptocurrency mining equipment on its platform. Per a rule announcement, Alibaba cited recent pronouncements from China's central bank and other oversight bodies in the country that amounted to a renewed crackdown on cryptocurrency activities. Alibaba also said that it would close two sales categories related to mining. China's crackdown on mining began in earnest earlier this year, resulting in the exit of some mining firms from the country. The lockout appears to be accelerating quickly, as shown by developments like the service shutdown of Hangzhou-based Sparkpool, an Ethereum mining pool company. Exchanges like Huobi and Binance have also moved to restrict service access in the wake of the Chinese regulatory moves. Coin News.

Alibaba to ban crypto miner sales | CoinJournal

bitcoin mining hardware for sale alibaba

Security researchers at Trend Micro discovered cyber criminals disabling security features in cloud instances so that they could mine for cryptocurrency. The company announced this latest development via a blog post yesterday. Detail:Alibaba announced Monday that its platform will prohibit sales of cryptocurrency miners and remove categories for blockchain miners and accessories from its website on Oct. Earlier, U. Alibaba Launches Crypto Mining Platform Chinese e-commerce giant Alibaba has launched a surprise cryptocurrency mining platform, unconfirmed sources surfacing today claim.

Earlier this year, the mining of cryptocurrencies was banned in China, last week the local National Bank imposed a ban on any cryptocurrency transactions, and now the largest trading platform Alibaba.

Alibaba says it will block sales of cryptocurrency mining equipment starting next month

The company will completely prohibit the selling of hardware or software that is being used to mine or obtain cryptocurrency in any way. In addition to products themselves, Alibaba will stop selling manuals or tutorials related to the digital assets industry. While posting the announcement on Sept. All the members on the platform must comply with the law and stop listing the mentioned products. The company stated that it will keep track of policy and law changes in the country and may change its decision accordingly.

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cryptocurrency transactions, and now the largest trading platform announces the termination of sales of equipment for miners.

Chinese giant e-retailer Alibaba has announced it will halt selling cryptocurrency mining equipment come October 8, The company also disclosed that its customers will be prohibited from selling virtual currencies particularly pointing out Bitcoin, Litecoin, Beaocoin, Quarkcoin, and Ethereum. Tutorials or user guides, software, and other strategies used in the operation of virtual currency miners will also be forbidden.

Chris Y. Camp September 27, Uncategorized Comments Off on Alibaba says it will block sales of cryptocurrency mining equipment from next month 4 Views. Chinese e-commerce giant Alibaba announced on Monday that starting October 8, it will halt sales of cryptocurrency mining equipment on its platform. Through a rule announcement Alibaba cited recent statements by the central bank of China and other oversight bodies in the country that amounted to a further crackdown on cryptocurrency activity. The lockdown appears to be accelerating rapidly, as evidenced by developments such as the shutdown of the service of Sparkpool, a Hangzhou-based Ethereum mining pool company. Exchanges like Huobi and Binance have also decided to restrict access to services following Chinese regulatory measures.

The company also noted that the laws and regulations around the world on cryptocurrencies is instable. Alibaba will stop selling devices in two categories, Blockchain Miner Accessories and Blockchain Miners.

Alibaba Group Holding Ltd. Effective April 17, the Chinese e-commerce platform will forbid stores from selling derivative products and services based on blockchain technology, such as digital pets and initial coin offerings, according to a notice posted on the Taobao website. Taobao previously banned stores from selling products related to cryptocurrencies such as bitcoin, as well as blocking offerings of bitcoin mining tutorials and other related hardware and software. By implementing the new rules, Taobao said it aims to "standardize the market management order" of its platform, "create a safe and secure online shopping environment for customers," and "lift customers' confidence in purchase and satisfaction. It also noted the decision by the People's Bank of China and other authorities to ban initial coin offerings in September , reminding users that no institution is allowed to provide trading, exchange, pricing, brokerage, payment or other services of digital currencies or similar digital products. Taobao said stores that violate the new rules could face deductions of points associated with the platform's seller reputation scoring system. The move comes shortly after Taobao's parent Alibaba filed a trademark infringement lawsuit in New York against Dubai-based cryptocurrency firm Alibabacoin Foundation.

For Alibaba BABA , the Chinese e-commerce behemoth with its sights set on global domination, the cryptocurrency world was never too far away. Alibaba recently launched a cryptocurrency mining platform called "P2P Nodes," according to a report by Coin Telegraph. See also: 10 Companies Owned by Alibaba. As cryptocurrency fever has swept the world, more businesses have looked to get on board with the digital currency craze.

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