Crypto News

The company clarified on Xiaomi Mi Store taking cryptocurrencies like Bitcoin, Ethereum

China had banned its financial institutions and payment companies from providing cryptocurrency-related transactions or other sorts of services to curb cryptocurrency trading within the country.

A few days after the news of Xiaomi’s Mi Store app in Portugal accepting payments in cryptocurrencies like Bitcoin, Ethereum, Tether, etc., Xiaomi has now clarified that this Portugal Mi Store isn’t the official Mi Store of Xiaomi, but it’s a politician third-party partner, which has no direct relation with the operation of Xiaomi.

The news of Chinese company Xiaomi adopting cryptocurrency was already under suspicion because the transaction of cryptocurrency is banned in China.

Xiaomi told through the official Weibo account of its Xiaomi company spokesperson (translated). The platform in Portugal isn’t the official platform of the corporate and therefore the company doesn’t accept payments in cryptocurrencies. the corporate says that it’s a politician third-party partner of Xiaomi, which has no direct reference to the company’s operations.

According to Gizmochina, it’s been observed that Mi Store Portugal had partnered with Swiss cryptocurrency payment service Utrust to simply accept payments in cryptocurrencies. allow us to tell you that China had banned its financial institutions and payment companies from doing any quite crypto-related transactions or the other quiet service to curb cryptocurrency trading within the country.

China has also taken many big steps regarding mining within the country and has also closed many social media accounts associated with crypto.

From time to time, China makes big decisions regarding cryptocurrencies. Of course, in such a situation, Xiaomi wouldn’t want any news of cryptocurrency to be linked to the corporate.

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