The South Korean government on Wednesday convened an emergency meeting of related ministries to discuss ways to curb the speculative frenzy over the cryptocurrency known as bitcoins.

The meeting comes after Prime Minister Lee Nak-yon expressed concerns about possible financial damage to local investors.

The meeting brought together senior officials from the ministries of justice, finance, science and ICT, as well as representatives from the Financial Services Commission and the Korea Communications Commission.

The government has been running a task force since early this month to tackle problems related with virtual currency dealings.