Recently, the central bank announced that the central bank departments concerned provided services for banks and Payment institutions to provide speculation for virtual currency transactions. They interviewed some banks and Payment institutions such as ICBC, agricultural bank, construction bank, postal savings bank, industrial bank and Alipay (China) Network Technology Co., Ltd.
At the same time, the central bank requires relevant institutions to comprehensively investigate and identify the capital accounts of virtual currency exchanges and OTC dealers, and timely cut off the payment link of trading capital.
Subsequently, Alipay issued a statement prohibiting the use of the company's services for bitcoin and other virtual currency transactions, and will further intensify the crackdown on related transactions from four aspects:
1. We will continue to closely monitor and investigate transactions involving virtual currency, establish an inspection system for key websites and accounts, and block them as soon as they are found;
2. Strengthen risk monitoring of payment transaction, prohibit virtual currency transfer transaction, deploy risk algorithm model, strengthen abnormal transaction monitoring, and limit the rights of suspected payer and payee;
3. Strengthen the management of merchants, forbid the admittance of virtual currency merchants, and continuously monitor the risk of signed merchants. Once the merchants are found to be engaged in virtual currency transactions, they will be blacklisted, and subsequent cooperation is prohibited;
4. Strengthen the virtual currency risk warning, through the risk pop-up window, message push and other ways to strengthen user publicity and warning education.
Alipay said in its announcement thatWelcome to dial 95188 Alipay service hotline to provide suspicious clues. We will strictly implement the relevant regulatory requirements of the state, abide by the industry self-discipline commitments, resolutely cooperate with the relevant business activities to crack down on the virtual currency, guard against the risks of trading speculation, protect the legitimate rights and interests of customers, and safeguard the financial market order.
Some people in the industry believe that the interview is a further measure taken by the central bank and other regulatory authorities to rectify the cryptocurrency industry, mainly to warn and deter various institutions and players. It is expected that some small and medium-sized players will withdraw. However, domestic virtual currency trading will not be completely eliminated. Banks and other institutions still need to continue to guard against and block related trading activities. At the same time, the central bank also points out the direction for banks and Payment institutions to guard against virtual currency transactions.