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Bitcoin becomes official US commodity


Bitcoin becomes official US commodity

Bitcoin is to be classed as a commodity in the United States along with gold and oil, according to Commodity Futures Trading Commission.

It decision follows a clampdown on unregistered firms which trade derivatives of the crypto-currency.

Bitcoin is a virtual currency that allows users to exchange online credits for goods and services.

While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.