Alibaba, the Chinese eCommerce conglomerate, has banned the sale of Bitcoin on its Taobao Marketplace online platform.
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.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More