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Cryptocurrencies

Ant Financial to scrutinise peer-to-peer crypto trading

Friday 24 August 2018 | 11:00 AM CET

Ant Financial, the payments affiliate of Alibaba, has joined Chinese regulators to scrutinize peer-to-peer cryptocurrency trading using its Alipay mobile app.

Thus, the Chinese conglomerate is beefing up efforts to monitor both merchant and customer accounts as well as notable sites that integrate the Alipay gateway to facilitate over-the-counter (OTC) crypto trading.

However, according to CoinDesk the company did not offer details on whether or how many accounts it had already found with crypto trading involvement. The news follows Chinese financial regulators’ decision to block the internet access to over 100 overseas crypto trading platforms that are still providing services to Chinese investors.

WeChat Pay, another prominent mobile payments application launched by the internet giant Tencent, has also been monitoring and blocking accounts that are suspected of handling crypto transactions.

More: Link
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