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Bitcoin and different cryptocurrencies are made attainable by a technology known as the blockchain. This is a shared electronic ledger during which transactions in cryptocurrency (e.g. bitcoin) are immediately validated by a network of computers, thus making a decentralised and clear environment. Regulation surrounding cryptocurrency within the UK is especially fragmented. Over the previous few years, the UK authorities has had a basic view that bitcoin and other cryptocurrencies usually are not ‘real currencies’. This is as a result of they don’t seem to be perceived to carry out the capabilities usually related to the definition of currency.

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