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Taobao comprehensively prohibits the sale of virtual currency products such as virtual currency, blockchain pets, and ICO services

Time : 09/01/2022 Author : u6xjtr Click : + -
        On April 11, Taobao released the notice on the publicity of changes in the interpretation of rules for virtual currency commodities, further clarifying the scope of the prohibition of virtual commodities and increasing the control of derivative services of digital products generated based on blockchain technology. Specific situations include but are not limited to: bitcoin, Wright coin, Biot coin, quark coin, infinite coin, coco coin, penny coin, ppcoin, namecoin and other digital currencies; Commodities with the same technical nature and generation mechanism as digital currencies, such as blockchain pets; Get tutorials, strategies and software of digital currency; Derivative services for ICO and digital currency, such as technology development, business planning, intermediary, marketing, agency, etc.
        The first financial reporter noted that compared with the pre change prohibition specification for virtual goods, the new specification mainly increases the prohibition of goods developed based on blockchain technology, such as blockchain pets and ICO related derivative services, such as the sale of ICO white paper templates. Previously, the scope of prohibition was only for all kinds of virtual coins, bitcoin mining tutorial introduction, and hardware and software supporting mining machines. The notice requires Taobao merchants to comply with the provisions of relevant laws and regulations such as the notice on preventing bitcoin risks and the notice on preventing the financing risks of token issuance jointly issued by seven ministries and commissions, and states that such digital currencies and similar digital products are prone to user speculation and illegal financing and fund-raising risks, and no institution shall provide them, and no institution shall provide them with trading, exchange, pricing, intermediary Payment and other services.
        The notice also said that the rule change was announced on April 10, 2018 and will officially take effect on April 17, 2018. If the seller commits serious violations, 12 points will be deducted each time; If the circumstances are serious, 48 points will be deducted each time. The price of blockchain pets ranges from thousands of yuan to tens of thousands of yuan, but compared with before, with the tightening of supervision, the sale of ICO white papers has been significantly reduced. Previously, some sellers sold ICO white papers, with a price ranging from tens of thousands of yuan to tens of thousands of yuan, and the sales volume of sellers with large sales can reach nearly a thousand.
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