Taobao.com, one of China's leading e-commerce platforms, will ban sales of virtual currencies including Bitcoin and related software on its platform starting from January 14, the company said on late Tuesday.
Taobao vendors should abide by regulations released by the People's Bank of China in December, which said that the country's financial and payment institutions should not accept Bitcoin as legal tender.
The price of a Bitcoin stood at 5,660 yuan ($935.03) on Bitcoin trading platform btcchina.com on Tuesday, and dropped to as low as 4,718.51 yuan on Wednesday.
Bitcoin not a currency: PBOC official
2014-01-03Bitcoin: a perfect bubble or IT ponzi scheme?
2013-11-20Bitcoin mania heads into the end game as value dives
2013-12-23China Bitcoin exchange suspends RMB recharges
2013-12-19Bitcoin falls on 3rd-party pullback
2013-12-18China moves to ban Bitcoin banking
2013-12-06Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.