On Monday, China’s central bank stated it had encouraged multiple payment organizations and banks to crack down on cryptocurrency theory. From Beijing, adding to calls for restrictions on different digital cryptos and bitcoin. 
The People’s Bank of China opined that it called for major lenders including the Industrial and Commercial Bank of China and Alipay, and the Agricultural Bank of China. All mobile payments services are operating by Alibaba affiliated Ant Group, to say them they should not offer crypto-oriented services.
The statements strengthen Beijing’s strictness on crypto. In 2017, the Chinese government prohibited the so-called initial coin servings, a path to issue new virtual tokens and surge money. Authorizes have also clump down on trades associated with crypto operations, like local exchanges.
In the month of May, China stated that payment organizations and financial institutions were prohibited from serving services oriented to crypto transactions. On Monday, Alipay said that it will continue to develop a significant investigation and hit against digital currency transactions and intensify its crash on crypto.
On the Weibo social media, according to an English translation of a particular post the organization stated, they will repeat that Alipay does not develop or participate in any kind of trade activity associated with digital currencies and does not serve any assistant technical capability or service.
Alipay will instantly reduce its payment service related to any types of digital currency transaction it spots. Alipay will certainly eliminate any merchant engaged in digital currency transactions.
Bitcoin’s value fell to a two-week low Monday on news that China’s crash on crypto mining has elaborated to the Siachun, southwestern province which renowned for its rich hydropower resources.
