Chinese online shopping website Taobao, a subsidiary of retail giant Alibaba (NYSE:BABA), will be banning stores on the platform from providing services related to Initial Coin Offering (ICOs), according to the press release published on Tuesday, April 10.
The official statement offers an update of the firm’s previous cryptocurrency-related restrictions, which banned Taobao’s customers from services related to cryptocurrencies like Bitcoin (BTC), as well as from offering cryptocurrency mining tutorials, Bitcoin mining machines, and other related hardware.