Buy Bitcoin on Alipay? No way says Alipay to Binance on Twitter
Buy Bitcoin on Alipay? No way says Alipay to Binance on Twitter!
The CEO of Binance, Changpeng Zhao “CZ”, announced with great fanfare the arrival of the sale and purchase of Bitcoin BTC in P2P with Binance.
One person, Haiyi (Celine) Lu, CEO of Bitdeer, asked on Twitter if it was actually possible to sell or buy Bitcoins on Alipay and Wechat.
Mobile Applications very well known and widely used in China especially for payment in stores.
This person had tagged the name and Twitter account of the CEO of Binance to have confirmation on Twitter if Binance allowed Bitcoin trading with Alipay and Wechat, something that the CEO of Binance confirmed by responding to the tweet of this person.
But information circulates quickly and Alipay came to answer curtly to the CEO of Binance by a “NO, you cannot”!
NO, you cannot. https://t.co/J0YMTz3FZW
— Alipay (@Alipay) October 10, 2019
It should be remembered that Bitcoin and cryptocurrency are not prohibited in China only trading of Bitcoin and cryptocurrency is prohibited.
By the end of 2017, China had closed the crypto exchanges in the country prohibiting Chinese citizens from trading Bitcoin BTC or other cryptocurrencies.
However, the possession of Bitcoin BTC or other cryptocurrency is not prohibited in itself.
Therefore, these trading bans are imposed on mobile applications like Wechat or Alipay, Binance thought it was ok to say that Bitcoin trading was then available on these mobile apps..
Following this event, Alipay said it will closely monitor transactions in Bitcoins, particularly P2P transactions, to identify suspicious or fraudulent behavior under current legislation.
This Binance news implied that the Chinese citizens would be able to circumvent restrictions imposed by the Chinese government on the trading of Bitcoin BTC.
It was to forget the vigilance of the Chinese authorities especially on Twitter or social medias where the information moves around very quickly.
Changpeng Zhao tried to answer back following Alipay’s denial directly on his Twitter account, unable to erase his message that led Alipay to correct his statement about the purchase or sale of Bitcoin BTC on Alipay which is therefore not possible.
The CEO of Binance replied that Binance does not work “directly” with Alipay and Wechat actually.