Seeking Alpha

Alibaba unit to ban bitcoins

  • Not wanting to ruffle any of Beijing's feathers as it moves towards an IPO, Alibaba's (ABABA) Taobao will ban the sale of bitcoins (BITCN), effective January 14.
  • The Chinese government, of course, cracked down on the virtual currency about one month ago, with the PBOC barring financial institutions from handling bitcoin transactions.
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