Taobao bans sales of blockchain-related products

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A Chinese mobile phone user browses online shopping site Taobao.com. Photo: AFP

Taobao, one of the world’s biggest e-commerce website founded by Alibaba, has expanded the scope of banned sales of virtual goods and derivative services of digital products generated based on blockchain technology, Yicai.com reported.

The blacklist includes, but is not limited to, virtual currencies like Bitcoin, Litecoin, Biocoin, Quark, Infinitecoin, Colossuscoin, Pennies, PPCoin and NameCoin.

Products with the same technical characteristics as digital currency, such as blockchain pets, tutorials and softwares for crypto coins mining are also banned, as well as derivative services for Initial Coin Offerings.

So far, there are still links to blockchain pets and ICO white paper templates on the website. The price of blockchain pets ranges from thousands to just over 100,000 yuan (US$15,948), while that of ICO white papers ranges from a few tens of yuan to over 10,000 yuan.

The new rule will take effect on April 17. For sellers who have committed serious violations, they will be deducted 12 to 48 merit points at a time.

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