After Google and social networking sites such as Facebook and Twitter banned ICO and cryptocurrency advertising services on their platforms, Taobao, a subsidiary of Alibaba, has followed in its footsteps.
China-based online market Taobao, a subsidiary of Alibaba, has announced that it will ban the sale of any service related to ICO from its platform.
According to the policy update, the ban takes effect from 17th of this month. Taobao had previously banned all its stores from trading in crypto mining devices. The newly updated policy did not lift this ban.
Taobao defended itself with regards to the ban citing the Peoples Bank of China that
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