eBay UK to let consumers buy and sell Bitcoins

E-commerce

by CBR Staff Writer| 21 January 2014

The new Virtual Currency category for the sale of Bitcoin would be launched on 10th February.

Online retailer eBay has revealed plans to allow its consumers to purchase and sell virtual currencies including Bitcoin via its website, beginning 10th February 2014.

Consumers will have to first register on the website's classifieds section, upon which they would be allowed to buy and sell the cryptocurrency.

eBay Business Communications manager Ryan Moore said that to promote a trustworthy marketplace and ensure compliance with applicable regulations, eBay is currently updating its Currency Policy.

"The updated policy will clarify that listings for Bitcoin and other similar virtual currencies must be listed in the Virtual Currency Category in the Classified Ad format," Moore said.

"The Virtual Currency category is expected to be available on the UK site on February 10th."

The deals would only be carried out in classified ad formats, with the real transactions would take place outside of the online marketplace.

Currently, the online retailer is allowing the virtual currency only on eBay UK, while the plans of expanding the service to other countries still unclear.

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