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Tencent Virtual Coinage Affecting RMB Market
Tencent's (700.HK) virtual currency QQ coin violates China's RMB management regulations and may affect the RMB money market, reports Chengdu Business News quoting an unnamed expert. According to an insider from People's Bank of China, there are over 100 million active QQ coin users, many of whom trade QQ coins for profit. A report concerning QQ coins has already been filed within the People's Bank of China, said the insider. One QQ coin is equivalent to one Yuan.
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