Alibaba Subsidiary Taobao Bans listing of Cryptocurrency and ICO Services
***Alibaba Subsidiary Taobao Bans listing of Cryptocurrency and ICO Services
Taobao, which has often updated their policy to ban Cryptocurrencies, ICOs, and other virtual currency related services known as China eBay, is a subsidiary of Taobao Chinese Ecommerce giant Aliba, set up in 2003 where individuals and small businesses can list items for sale in China.
Taobao was previously banned from selling Cryptocurrency mines and offers mining tutorials. In addition, they are now banned from using any block or block service. The new rules prohibit services related to Cryptocurrency, which include ICO Advice, White Paper Writing Service, Smart Contract Deployment Service and other crypto related technical services. It is forbidden to sell blockquake virtual resources such as crypto kittis and their numerous clones. These new rules will be valid from April 17th.
Taoboo People's Bank of China has recently released the ban. In September last year, POBOC has banned all ICOs and earlier this year, they were banned by Cryptocoundands themselves. Although there is no ban on mining, most of the mining countries are trying to remove their services outside the country.
Taobao considers breaking this new rule as a serious violation and has a penalty system in a place of punishment who fail to follow. After the IPO was banned last year, most advertisers have been able to withdraw the ban by changing this spelling. For example, they write IC0 as ICO, where they change from 'O' to '0' (zero).
Although China is extremely hostile to Cryptocoundands, most businesses are optimistic about the change in positions in the coming months. In fact, the new head of PBOC's e-gang said, "Bitcoin is a coin that uses it to give freedom", and stressed that cryptocurrency is transparent.
Although Tobo has banned all the blockchain related services, there is no ban on blockchain in China. In fact, the Chinese government has become very optimistic about blockchain technology. A $ 1 billion blockchain fund was launched which is supported by the government for investing at the beginning of the blockchain. In addition, the number of policies of the policyholder maximum in 2017
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