Chinas biggest online marketplace, Alibaba Group Holding Ltds Taobao, will ban the sale of bitcoins on the heels of a government crackdown against the virtual currency to plug a potential gap in its tight controls on capital flows. The move comes as Alibaba, Chinas biggest e-commerce company, seeks the smoothest of rides toward a giant initial public offering of stock expected later this year. Taobaos move to fall in line with the governments wishes also comes as Alibaba presses on with efforts to stamp out the sale of fake goods on the online marketplace ahead of the IPO. Alibaba has been conservatively estimated to be worth over $100 billion.
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