China says all crypto-related transactions are illegal

What is the News? China has said that all crypto currency transactions in China, including transactions using Bitcoin, will be deemed illegal.  China and Cryptocurrency China has been one of the world’s largest crypto-currency markets.This is despite the fact that trading in crypto-currency has officially been banned in China since 2019. However, the recent announcement… Continue reading China says all crypto-related transactions are illegal

A system of shared IDs can globalize digital currencies

Relevance: Digital currencies are gaining global attention. Even an inter-ministerial committee (IMC) suggested to introduce National Digital Currency under the RBI.   Synopsis:  The major countries of the world are planning to issue their respective digital currencies whose success depends on the degree of global acceptance and transferability.   Background:  Digital Currency is a direct claim on a central bank, like regular cash. FedCoin,… Continue reading A system of shared IDs can globalize digital currencies