Crypto News 

Alipay Denounces Bitcoin OTC Trading: Regulatory ‘Gray Area’ in China

“Indeed, following the 2017 trading and ICO ban, reports began to emerge of growing P2P Bitcoin trading in China” writes Osato Avan-nomayo for These exchanges reportedly mask such activities by using the guise of running a P2P trading desk for the BTC/USDT trading pair.While the Alipay/Binance situation was unfolding, a Twitter account named Blocfilo posted some startling revelations about the Chinese crypto trading scene.There are even reports that major crypto exchanges use these backchannel avenues to conduct P2P Bitcoin trading in China.Earlier in October 2019, Binance announced a fiat on-ramp for crypto trading via Chinese payment services Alipay and WeChat.

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