Chinese e-commerce giant Alibaba is the side by side company to wrap upwardly its cryptocurrency-related services in response to the ongoing crypto crackdown in China.

Alibaba officially appear Monday that its platform will prohibit sales of cryptocurrency miners and suspend categories for blockchain miners and accessories from its website on Oct. eight.

In addition to stopping sales of crypto mining devices, Alibaba will impose a ban on using its platforms to sell major cryptocurrencies, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), as well as smaller coins like Quark (QRK).

The new restrictions involve but are non limited to crypto mining-related hardware and software, as well every bit relevant tutorials, guides and strategies, the announcement noted.

Whatsoever sellers that keep list crypto miners or relevant products on Alibaba's platforms after October. xv will face penalties under applicable rules, the firm warned in a detailed clarification of new restrictions. Some of the listed penalties include blocking stores, freezing and closing merchant accounts for maliciously evading the new rules like intentionally placing relevant products into other categories, Alibaba said.

The business firm noted that the latest policy changes come in response to compliance issues in listing products and treatment transactions.

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"Members have responsibility for complying with relevant laws and regulations applicable to any country of sale. We will keep track of policy changes in each country and adjust our command policies accordingly," the visitor stated. Alibaba did not immediately answer to Cointelegraph's request for annotate.

Alibaba's move came soon after the Chinese regime had announced a ready of new measures to gainsay the crypto adoption, declaring all crypto-related transactions illegal in the country on Friday. In response to a renewed crypto crackdown, major crypto exchanges such every bit Binance and Huobi afterward halted some services in mainland Prc, while Sparkpool, the second-largest Ethereum mining pool in the globe, announced a total shutdown of operations.