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S Korea regulator says 'virtual currencies' are not currencies

Chinese authorities have ordered its army of bitcoin miners to quit operations, clamping down on a group estimated to produce some three-quarters of the world's supply of the cryptocurrency, according to reports in the Wall Street Journal and a handful of tech portals.


SOUTH Korea's Financial Supervisory Service (FSS) said on Tuesday it does not consider bitcoin and other cryptocurrencies to be currencies of any kind and would not seek to regulate their trade beyond rules announced last week.

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