China Alibaba Suspension For Sale Of Crypto Mining Machines


Workers place the robots on the shelves of the Cainiao Smart Logistics Network, which is affiliated with the e-commerce giant Alibaba, in Wuxi, in the eastern China state of Jiangsu.

Workers place the robots on the shelves of the Cainiao Smart Logistics Network, which is affiliated with the e-commerce giant Alibaba, in Wuxi, in the eastern China state of Jiangsu.
Figure: Hector Retamal / AFP (Getty Images)

Alibaba, China’s largest online retailer, has stopped selling cryptocurrency mining machines, according to an online announcement Monday. The ban comes after the Chinese government made its major announcement Friday banning the sale of all cryptocurrencies in the country.

This new ban, was first announced in the English media by Coindesk, is reviewing its ban on the sale of crypto mining machines, and also includes other aspects of crypto, including their own funds, as well as any courses.

From Alibaba’s announcement:

Alibaba.com will ban the sale of miners in addition to the ban on trading currencies such as Bitcoin, Litecoin, BeaoCoin, QuarkCoin, and Ethereum, which include but cannot be limited to:

1) Electronic tools and software used to earn money like Bitcoin miners;

2) Education, methods, and funding program such as mining education.

The ban will take effect on October 8, according to the sales giant, although some retailers will not face any consequences for violating the rules until October 15.

As Coindesk points out, Alibaba is not only the largest online retailer in China, it also has organizations all over Asia, including Aliexpress and Lazada.

China has cracked down extremely hard on cryptocurrencies recently, as more and more evidence piles up about just how terrible they are for the environment. Bitcoin enthusiasts insist that cryptocurrencies aren’t that bad, though some eco-minded miners have started to find unconventional ways to make the technology more green, including a recent plan to approach the nuclear energy industry, as On Earth said yesterday.

China’s central government has been hating crypto currency for some time, despite abandoning mining laws in the local government. All of that changed on Friday with China’s total ban on cryptocurrencies, making it increasingly difficult for crypto enthusiasts to operate in any country.

Crypto advertisers insist that currencies like bitcoin and ethereum know no bounds and that China’s ban will not prevent people from doing business. But most people with crypto are connecting and exchanging, without having the keys in their wallet. And given the barriers to entry, there is no doubt that the average person in any country, not even a tyrant like China, has endured the challenges of crypto, which has so far proved its worth as a mere figment of the imagination.



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