Taobao bans bitcoin sales on its websites

China’s largest e-commerce company Alibaba Group said on Wednesday that it would prohibit listings and sales of bitcoins on its websites as of Jan 14, The New York Times reported. “In the interest of consumer protection, Taobao Marketplace has banned the listing or sale of bitcoins over the platform,” said Florence Shih, an Alibaba spokeswoman. Bitcoin wasn’t an accepted form of payment on the website; the vast majority of transactions are processed through Taobao’s Alipay system. But some merchants allowed payment in bitcoins for their products, or directly sold the virtual currency.