Bitcoin Banned by Alibaba’s Taobao After China Tightens Rules
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Alibaba Group Holding Ltd., China’s largest e-commerce website, will ban the sale of Bitcoin and other virtual currencies after the country’s central bank tightened regulations in December.
Taobao Marketplace, one of the main platforms that link buyers and sellers on Alibaba, will bar from Jan. 14 the sale of Bitcoin and related products, including mining software and hardware for the virtual currency, the company said on its website yesterday.