The crackdown on cryptocurrencies is gathering momentum in many countries, as regulators look to curb tax evasion and regulate all financial transactions. In South Korea, authorities seized more than $47 million in bitcoin, ethereum and other crypto assets from 12,000 people accused of tax evasion. Police in Iran have shut down a cryptocurrency mining farm and taken custody of 7,000 computers. Authorities have also banned the Iran Blockchain Association, a local collective of miners. China has ordered all electricity companies to stop supplying to crypto mining projects. The move is expected to shut down 90 percent of the sector in the country.
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