In response, some insiders said that Qianan intended to use wechat and Alipay to promote its OTC transactions in China.
Alipay and WeChat pay again
In October 10th, Alipay Security Center announced in micro-blog that Alipay was prohibited from trading in virtual currency. If it was discovered that transactions involved bitcoin or other virtual currency transactions, Alipay would immediately stop payment related services. For merchants involved in virtual currency transactions, they will be resolutely withdrawn; for individual accounts suspected of virtual currency transactions, according to the circumstances to take restrictive account collection function, or even permanent restrictions on receipts and other treatment measures.
Subsequently, Wechat Payment also showed a direct unwelcome attitude. Wechat Payment claims that Wechat Payment does not support virtual currency transactions, nor has it ever opened virtual currency category merchants access. If any action of using Wechat payment for virtual currency transaction is found, it will be refunded. At the same time, users are welcome to report, we will resolutely cooperate with the fight in accordance with the relevant regulatory provisions. We will resolutely protect the legitimate rights and interests of customers, prevent and control financial crimes, and maintain the order of the financial market.
The reporter noted that the previous relevant information about Alipays virtual currency transactions should also be traced back to the first half of the year.
In January this year, Alipay said it had checked and closed about 3000 accounts in virtual currency transactions. At that time, Alipay also stressed that for users who illegally use Alipay to carry out virtual currency transactions, Alipay would impose penalties on accounts such as restricted receipts once verified.
As far as Wechat payment is concerned, as early as May this year, a new article has been added in the revised Wechat Payment Service Agreement: No direct or disguised engagement in Internet gambling, pornographic platform, Internet lottery platform, illegal foreign exchange, precious metal investment and trading platform, illegal securities and futures trading platform, token issuance and financing and virtual currency trading platform, nor without supervision. The Department approves to carry out the asset management business through the Internet and the bulk commodity trading places without the approval of the provincial government. Otherwise, TenPay has the right to terminate the payment and settlement services for them. The revised agreement will come into force on May 31, 2019.
u25cf seven departments including the central bank and the CSRC jointly issued documents to stop the issuance of ICO.
u25cf since then, bitcoin China, fire coin network and okcoin bank have announced to stop all digital asset to RMB transactions.
In terms of payment channels, WeChat and Alipay have stepped up the transaction of restricted virtual currencies. Baidu has also closed down a number of related post bars, including currency bar, digital currency, virtual currency, etc.
Suspected to be directed against the Yuanan Incident
The sudden announcement made the currency circle panic. Why did Alipay and WeChat suddenly mention the transaction of virtual currency again? Whats wrong with this?
In this regard, Alipay and Wechat did not clearly point out the reasons, but there is a mainstream interpretation of the industry - this is not unrelated to the recent high-profile announcement of return to the Chinese market by Yuan An.
On September 23, the coin circle self media shouted that coin safety should attack the domestic market in an all-round way. According to the news, the community of other cities in Shenzhen will also be quickly built after the establishment of the Yuan LOGO Club. At the meeting of fans in Shanghai on September 22, he said that the current policy is getting better. He said that at the end of October, he will issue RMB legal OTC, and he will start to be a domestic community.
A person familiar with the matter told the International Finance Daily that recently, Yuan invited OTC merchants to Qingchengshan to hold a meeting with the intention of launching OTC transactions.
On October 9, coin Safety announced the opening of OTC trading function. A money security user asked twitter to ask whether the money is being accepted by Alipay and WeChat, and attached to its Android App screenshot, including bank card, WeChat and Alipay option, and currency CEO CEO (CZ) was confirmed on Twitter.
Soon, an interesting scene took place. In order to emphasize the position, Alipays expedition Twitter, in the founder of Zhao Changpeng, confirmed to Alipay that he could use Alipay to conduct bitcoin transactions, replied: No, you can not.
In the evening of October 10th, reporters also received a screenshot of a user who claimed to have been frozen by Alipay account due to the experience of currency OTC.
On October 9, he Yi, co-founder of Yuanan, published a micro-blog saying that there was no cooperation between Yuanan OTC and Weixin Payment and Alipay Officials; at present, Yuans OTC is the C2C model like Youshang Huoqian and OKEX.
A virtual currency investor told the international finance daily that at present, virtual currency transactions were carried out on the numeral currency trading platform represented by the currency. The main trading methods still had bank cards, WeChat payments and Alipay, and whether Alipay accounts were frozen after successful trading, depending on whether the transaction was monitored by the relevant payment platform side.
(International Finance Journal reporter Huang Xi)
Source: responsible editor of International Finance Daily: Yang Bin_NF4368