China’s largest online store bans Bitcoin trade

    Taobao, the biggest online marketplace in China, has banned everything to do with Bitcoins and other virtual currencies, including trade in Bitcoins, Bitcoin mining equipment and any online tutorials about Bitcoin mining and trading. Although China’s Central Bank has decreed that Bitcoin cannot be used as a currency, it is still perfectly legal to trade it or invest in as a commodity, or buy virtual currency mining equipment as long as real currency is used. Alibaba said it had gone beyond the Central Bank directive “in the interest of consumer protection”.