Samsung's plans to harvest crypto-currency coins

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CAPE TOWN -Korean multinational electronics group, Samsung will reportedly make chips which will be particularly designed to harvest crypto-currency coins, reports The Verge. This comes after the technology magnate disclosed in its latest earnings report, its plans to harvest crypto-currency coins. According to the report, Samsung also confirmed that they overtook Intel, to become the biggest chipmaker last year. READ ALSO: WATCH: Samsung Notebook 9 and Pen specs for 2018 Meanwhile, the central-bank governor of Nigeria said last month that investing in the cryptocurrency is a “gamble” and hinted it may have to be regulated. “Cryptocurrency or bitcoin is like a gamble, and there is a need for everybody to be very careful,” Central Bank of Nigeria Governor Godwin Emefiele said in an interview on Wednesday at his office in the capital, Abuja.

“We cannot as a central bank give support to situations” where people risk savings to “gamble,” he said.

Emefiele is the latest among regulators globally to express concern about bitcoin, one of the most popular cryptocurrencies, because of high volatility and a perception that it facilitates crime. In January 2017, the central bank released a circular to lenders asking them not to use, hold, or trade virtual currencies pending “substantive regulation and or decision by the CBN.”

U.K. Prime Minister Theresa May also last month promised to consider clamping down on the cryptocurrency. Central banks in China and Russia have stopped local-exchange trading of bitcoin.

“I have asked my colleagues in the research and monetary-policy department to study the market and get to know what the issues are,” Emefiele said. The central bank may in future “make some very concrete pronouncements as to the direction,” he said, without giving details.

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