Alipay stops Binance: no BTC trading
Crypto

Alipay stops Binance: no BTC trading

By Alfredo de Candia - 10 Oct 2019

Chevron down

 A few hours ago, Alipay denied via Twitter yesterday’s news whereby Binance, with great enthusiasm, announced that it could allow the purchase of bitcoin (BTC) through some applications such as WeChat and Alipay.

In response, Alipay has begun to monitor bitcoin transactions, especially OTC (Over The Counter) transactions, to identify suspicious or fraudulent behaviour with respect to current legislation.

Yesterday’s news was quite important for Binance precisely because it finally allowed the Chinese to buy bitcoin (BTC) almost directly, by using a Chinese application and thus to circumvent the ban imposed by the government.

Obviously, after Alipay’s denial, Binance’s CEO, Changpeng Zhao, tried to clarify the fake news, saying that there was just confusion surrounding the news: Binance is not working directly with WeChat or Alipay, but the apps are P2P (Peer-to-peer) and, as such, they allow all users to interact and buy and sell assets.

Moreover, during the previous days, the P2P trading platform was also launched, precisely to put in direct contact the sellers with the buyers of the relative assets, namely bitcoin (BTC), ethereum (ETH), Tether (USDT) and also the Chinese yuan (CNY).

There were, of course, many comments on Twitter from the various haters who wrote several posts pointing out that, in just one day, Binance altered the facts.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.