Blockchain, Cryptocurrency, ICOs

Taobao bans crypto and ICO services

Taobao,  e-commerce platorm and a subsidiary of Alibaba Group, bans the listing of services for cryptocurrencies or ICOs starting May 5, 2018. The Chinese e-commerce giant has updated its policy to “increase control of derivative services of digital products generated based on blockchain technology.”  Taobao has issued new rules that “Taobao will follow the relevant laws and regulations of the State and stipulate the rules governing Taobao’s ban on the sale of goods. The relevant terms of the interpretation are changed.”

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