17 September 2019

Taobao gives Bitcoin the flick, website reports

Ecommerce website is banning the sale of virtual currencies such as Bitcoin and Litecoin on its site from Jan. 14, joining the likes of Baidu and Guokr in prohibiting trade in the online currency, news website reported Tuesday. The Taobao ban also covers related educational materials and software, the report said. Last month, the central bank announced a ban on financial institutions handling Bitcoin transactions, sending the value of the virtual currency down. But Bitcoin bounced back above the US$1,000 mark with a decision by game company Zynga to accept it for some of its services, the report said.

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