Small toy figures are seen on representations of the Bitcoin virtual currency in this illustration picture, December 26, 2017. (REUTERS/Dado Ruvic/Illustration)
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South Korea said Thursday it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them, amid growing fears of a bubble over cryptocurrencies.The announcement came as the hyper-wired South emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions -- about 10 times its share of the world economy.In a case highlighting the risks of cryptocurrency, a Seoul virtual currency exchange declared itself bankrupt last week after being hacked for the second time this year.The Youbut exchange became the first South Korean cryptocurrency exchange to close after the hacking attack that stole 17 percent of its assets.
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