Alibaba, the Chinese ecommerce group, is banning Bitcoin from its shopping websites, in a move that pushes the virtual currency further towards the margins of the world’s second-biggest economy.
China still dominates in the trading of Bitcoin, but the government’s tough stance has made it difficult for people who hold the virtual currency to buy anything with it.
Bitcoin had carved out a niche on Taobao, China’s biggest online shopping platform, even though Alibaba – which owns Taobao – refused to accept or support payments in the virtual currency.
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