Customers: The entity which buys digital coins from merchants and redeem the same in lieu of real currency.
Coin Wallet: A logical entity that 'stores' digital coins in a secure manner.
Partner Stores: The entities which participate as members of the MCM service, whereby agree to accept digital coins as real currency.
On the other hand, opponents to the taxation idea claim that the government should apply "fair and equal treatment" to transactions of digital coins
It added there's little precedent for consumer protection in the world of digital coins
The government vowed to regulate trading of digital coins to root out speculative investment but its actions are instead causing chaotic runs on markets.
The biggest culprit behind this mess is policymakers' indecisiveness, which many believe is caused by their lack of understanding of digital coins, and poor coordination among ministries.
Based on cryptocurrencies' source technology, dubbed blockchain, participants can transfer digital coins
across the internet without the need for a central third party.
With fears over massive data leaks rising following reports that Intel's central processing units (CPUs) have "the worst-ever" security flaws, concerns are rising that bitcoins and other digital coins
stored in personal computers or cloud servers using those chips can be stolen by cyberattackers.
Some countries regard digital coins
as commodity, while other places are treating them as regular money.
Cyberattacks targeting digital coins
are increasing as Bitcoin has been soaring this year.
The digital coins
market became more volatile than ever after the Moon Jae-in administration formed a taskforce for possible regulatory steps last week.