Tencent and Alibaba-affiliate Ant Financial, the operators of China’s two largest mobile payment platforms, said they will investigate individual and corporate accounts on their payment service WeChat Pay and Alipay for involvement in cryptocurrency trading.
Alipay will limit payment transfer functions for the concerned accounts, and WeChat Pay operator TenPay will monitor daily transactions and directly intercept any illegal trading.
Earlier this week, Tencent shut down a batch of public accounts on its messaging app WeChat for allegedly distributing information helping fund-raising through ICOs and virtual currency trading.
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