eBay UK Opening Virtual Currency Category on February 10th

Jayanand Sagar | January 16, 2014 | 4:57 pm

eBay UK Opening Virtual Currency Category on February 10th

Jayanand Sagar | January 16, 2014 | 4:57 pm

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Auction and sales website eBay will reportedly be opening a virtual currencies section come the 10th of February, according to a statement released today by the company.

The company says that they’ll be allowing virtual currencies to be posted on the service’s classifieds website from the above-date onward. Until then, these sorts of sales are not permitted.

“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,” said Ryan Moore of eBay’s business communications division in an email to newsBTC. “The Virtual Currency category is expected to be available on the UK site on February 10th.”

Users have long tried to sell virtual currency on eBay, given its ease of use. But with concerns of fraud, and the fact eBay owns PayPal, sales have mostly been not successful.

eBay hasn’t been very vocal on the matter, but they have been sending emails with the above information to users who are currently trying to sell digital currency on the website. In fact, one such user posted this screenshot on the Reddit.com social sharing website today.

As policies on eBay vary from country-to-country, it should be noted this change only affects eBay UK.

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