Alibaba’s Taobao Bans Bitcoin

By  |  January 8, 2014
 | 
bitcoin

Alibaba, the Chinese eCommerce conglomerate, has banned the sale of Bitcoin on its Taobao Marketplace online platform.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Bloomberg News reported that Bitcoin sales and other cryptocurrencies will be restricted beginning on Jan. 14. Mining hardware and software will also be barred from Taobao.

    An Alibaba spokesperson told Bloomberg via email that the decision is largely in line with the company’s existing policy regarding Bitcoin. Alipay, Alibaba’s payment processing affiliate, does not accept Bitcoin.

    The ban is yet another roadblock for Bitcoin adoption. To stay up-to-date on the latest developments in the popular crypto currency, check out the latest edition of the PYMNTS Bitcoin Bubble Tracker by clicking here.

    “What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.


    Recommended

    Brazil

    Global FinTechs Race Into Brazil as Cumbuca Offers a New Back Door

    Anthropic Races OpenAI as It Preps a Mega IPO

    Embedded Payments Pull Real-Time Adoption Forward

    Gen Z Pressures Credit Unions to Deliver AI

    See More In: