The Latest in IT Security

Alibaba division bans bitcoin after China crackdown as IPO looms

08
Jan
2014

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.

Comments are closed.

Categories

TUESDAY, MARCH 31, 2020
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments