Bitcoin fell below $15,000 on Monday

Bitcoin fell below $15,000 on Monday after South Korea’s financial regulator said it and other agencies are inspecting six local banks that offer digital currency accounts to institutions.

Bitcoin, the world’s biggest virtual currency by market value, was last down 7.57 pct at $14,902.99 on the Luxembourg-based Bitstamp exchange, reports Reuters.

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.

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