Beijing News, a media outlet administrated by the Communist Party, reported Friday that Ant Financial is beefing up efforts to monitor both merchant and customer accounts, as well as notable sites that integrate the Alipay gateway to facilitate over-the-counter (OTC) crypto trading.
“We have been and will continue to closely monitor over-the-counter trading activities. If we find any transactions that we suspect are related to virtual currencies, we take appropriate measures including, but not limited to suspension of related fund transfers and permanently restricting payment collection functions of accounts involved.”
The news follows yesterday’s report that Chinese financial regulators are now seeking to block the internet access to over 100 overseas crypto trading platforms that are still providing services to Chinese investors.
Following the notable ban on crypto trading and initial coin offerings from People’s Bank of China in September 2017, major Chinese exchanges all shifted their businesses overseas but continued to offer crypto-to-fiat OTC trading.