Central Bank of South Korea: Bitcoin Is a Commodity, Not a Currency

Central Bank of South Korea: Bitcoin Is a Commodity, Not a Currency

The central bank of South Korea announced on Monday that they would not consider Bitcoin a currency but rather as a commodity. According to Yonhap News, Lee Ju-yeol, the bank’s governor, refuted the notion that cryptocurrency should be considered legal tender. At a legislative session in Seoul, he said: Regulation (of virtual currencies) is appropriate because …

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