Alibaba to stop selling cryptocurrency, crypto mining gear

Alibaba would stop selling cryptocurrencies and cryptocurrency mining gear on its platform due to China's ban on cryptocurrency trading and mining.

To apply China's ban, Alibaba will terminate two of its product categories, Blockchain Miners and Blockchain Miner Accessories.

The ban, which is slated on October 8, may affect retail sales all across Asia due the presence of its subsidiaries, Aliexpress and Lazada, throughout the continent.

To ensure the implementation of the new policy, Alibaba would penalize the sale of these articles on its platforms.

The penalties would include the removal or deletion of the listed products, deduction of points, website function restrictions, and account closures.