Trump Bans Chinese Payment App Giants Alipay and Wechat- Order Could Steer Billions of Dollars Toward Bitcoin

Trump Bans Chinese Payment App Giants Alipay and Wechat- Order Could Steer Billions of Dollars Toward Bitcoin


Cryptocurrencies may see a boost between China and the U.S., as the American president Donald Trump has signed an executive order banning financial transactions with eight China-based payment applications. Following the signing of Trump’s new executive order, popular payment apps including Alipay, Wechat Pay, and Tencent’s QQ will be banned in America in 45 days.

According to the latest executive order signed by U.S. President Donald Trump, Americans will be prohibited from transacting with eight different Chinese payment applications. Transactions processed with these apps will be prohibited in 45 days according to Trump’s latest edict. The applications that fall under Trump’s ban include WPS Office, QQ Wallet, Alipay, Camscanner, Shareit, Tencent QQ, Wechat Pay, and Vmate.

Trump’s administration claims the prohibition has been enacted for national security reasons and it follows the executive order Trump signed to ban the China-based app Tiktok. In August, Trump signed that specific order against any transactions between Tiktok’s parent company, Bytedance. The latest

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