On Wednesday, the largest crypto currency exchange Binance announced the launch of OTC trading in cryptocurrencies in China. It was alleged that local residents can buy the coins on the platform for Fiat money through payment services Alipay and WeChat pay.
However, it is necessary to remind that the activity of cryptocurrency exchanges in China is prohibited, and Binance is no exception. About the Americans have long used VPN to access the Binance, giant crypto currency exchange once again figured out how to accept payment “by cash”. What’s the feature? As wrote in his Twitter CEO Binance Chanpen Zhao, now exchange not working directly with WeChat or Alipay. In turn, representatives of Alipay is also officially (and multiple times) stated that such transaction is prohibited on the service.
Alipay is closely monitoring off-exchange transactions to identify inappropriate behavior and compliance with the relevant regulations. If any transactions are identified as associated with the Bitcoin or other virtual currencies, Alipay will cease immediately the provision of services.
But you can probably use the system for refill in Binance Fiat money?
Zhao from Binance claims that Yes. Alipay in response to the claim that there is.
By the way, WeChat is also not budge Binance. How to write Chinese news media, “WeChat is threatening to block any activity within the payment service if there are suspicions regarding a user’s cryptocurrency”. After a little time press Secretary Binance talked to reporters from the Decrypt and recognize that they have nothing to respond to statements by Alipay and WeChat.
Since then, they tweeted some interesting tweets which were subsequently removed. For example, Larry Cermak from The Block wrote, as a few people do not last from Alipay and WeChat told him that “the company knows about the market of cryptocurrency in China. And while they don’t really oppose it”. Like, in the exchanges so a good relationship with the government that they are forcing Alipay and WeChat to close their eyes to what is happening.
In the major Asian exchanges (we will not point fingers) now there are even entire teams to perform defrosting payments. When Alipay or WeChat freezes the account due to kriptoloji, customers can simply open a ticket in support, and the exchange will attract their connections. So this issue is resolved. Alipay just declines all responsibility, formally declaring that they oppose this. Though in reality they absolutely do nothing. You can bet they know exactly which clients trade bitcoin.
Probably Cermak kovyrnul so deep that even Chanpen Zhao was forced to intervene.
Some things are better not to tell. I recommend not to publish such news for the sake of users, the industry (and your business).
Although Cermak seems to be settled down, it didn’t help to hide the truth. Anonymous under the nickname truthseeker went further and in one of the tweets said that AliPay and WeChat “in fact belong to the state. They should act accordingly, otherwise will be punished.”
Apparently, Binance just became a prisoner to my own fame. It noise launched P2P trade, and media around the world picked up the news. What to do now AliPay? They should demonstrate their position and determination. To deny everything.
In General we can say that even this skirmish in the Twitter did not disclose the truth. It is still unclear, it is thought the PR Binance to take as many headers or something really dark and covers his not quite honest scheme?
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