Cryptocurrency listings have been prohibited from publication on Mercado Livre, also known as Free Market, following a $750 million investment into the platform from Paypal. Just prior to the announcement, more than 10,000 listings relating to virtual currencies were identified on the platform.
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Latin America’s Largest Marketplace Bans Crypto Asset Listings
Mercado Livre, the largest Latin American e-commerce marketplace by number of visitors, has prohibited the listing of advertisements offering the sale of cryptocurrencies on the platform. The news comes shortly after it announced that Paypal had purchased $750 million worth of shares in Mercado Livre.
Mercado Livre issued a notice requesting that users terminate listings pertaining to virtual currencies before the date, with the platform announcing it will automatically terminate all cryptocurrency listings on the platform from March 19 onwards.
In addition, the platform simultaneously banned listings…