Alibaba says no to Bitcoin

Alibaba has announced it will not allow Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term related listings on its marketplace websites.

Just over a month after the Central Bank of China released their warning and restrictions on Bitcoin and local exchanges, Ecommerce firm Alibaba announced restrictions on their merchants dealing with Bitcoin. An announcement was released yesterday on Alibaba’s Taobao marketplace stating from January 14th all Bitcoin activities will no longer be allowed.

“In the interest of consumer protection, Taobao Marketplace has banned the listing or sale of Bitcoins over the platform,” said an Alibaba spokeswoman.

While the primary payment option on Alibaba’s Chinese websites Taobao and TMall is their own Alipay payment service, some merchants have listed they accept Bitcoin as a payment option, and also sell BTC through Taobao’s funds marketplace. The statement from Central Bank of China mentions Bitcoin circulation is not allowed in the Chinese marketplace. China’s main concern on the digital-currency involves Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and illegal activities.

“Nor can, or should, it be circulated or used in the marketplace as a currency.“ an expert from the statement.

Taobao has over 760 million product listings and is raked on Alexa’s top 20 most visited websites in the world. Taobao with sister site TMall, together completed $5.75 billion in transactions in less than 24 hours during China’s single’s day.

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