S Korea bans its banks from dealing in bitcoin
Country is a hotbed for cryptocurrency trading, accounting for 20% of global bitcoin transactions
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Seoul
SOUTH Korea on Wednesday banned its financial institutions from dealing in virtual currencies such as bitcoin, as the cryptocurrency soars in a bubble fuelled by retail speculators, many of them from the country.
The hyper-wired country has emerged as a hotbed for cryptocurrency trading, accounting for some 20 per cent of global bitcoin transactions - about 10 times its share of the world economy.
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