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It is the ammo itself that is regulated, if it can be used in a handgun. The problem for some ammo was created by the manufacture of handguns using rifle cartridges, so the meaning of "handgun ammunition" was forever changed. But, as noted above, U.S. .30 and 7.62 AP ammo was not affected because the definition was written to include a ratio of the AP core mass to the mass of the bullet, and that ammo does not meet the definition of "armor piercing".
Jim
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