When the United States barred Americans from doing business with Russian banks, oil and gas developers and other companies in 2014, after the country’s invasion of Crimea, the hit to Russia’s economy was swift and immense. Economists estimated that sanctions imposed by Western nations cost Russia $50 billion a year. Since then, the global market … Read more
Marc Andreessen is among the biggest defenders of the prospects of Web3. Web3 is proving to be the most divisive idea in the tech sector in years. Proponents see it democratizing the internet, while critics view it as a VC plaything. Investors say there are challenges to overcome, but the adoption of Web3 could be … Read more
Bitcoin was trading around $46,073 on Wednesday, having struggled to make gains after falling sharply in early December. In November, it had hit an all-time high of $69,000. Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Goldman Sachs analyst Zach Pandl said in a research note … Read more
In the presentation, senior officials highlighted the issue of trackability of transactions, valuation of cryptos, the extreme price volatility, legal issues and identifying the various actors in the crypto transaction chain as areas of concern. Among the board members Revathy Iyer (former deputy comptroller & auditor general) expressed the need to proceed with caution. However, … Read more
The Centre has not received a proposal to recognise bitcoin as a currency in India, the government told Parliament on Monday, while adding that the Reserve Bank of India has recommended widening the definition of “bank note” for the launch of a Central Bank Digital Currency (CBDC). Responding to a question on whether the government … Read more
The family of a deceased man, David Kleiman, is claiming their family member helped create the popular digital currency and is suing Kleiman’s alleged business partner in the endeavor, Craig Wright, for half of Satoshi Nakemoto’s 1.1 million cache of Bitcoin. For the past five years, Wright has been claiming on and off that he … Read more
A bill to prohibit all private cryptocurrencies in India, with certain exceptions to promote the underlying technology and its uses, is among 26 bills to be introduced in the upcoming winter session of Parliament. Titled ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’, it is among the list of new bills for introduction, … Read more
Personal-trading policies at banks largely allow crypto investments without any sort of compliance check-ins first. Young bankers are piling into crypto investments. Banks have strict rules around personal investments, but crypto trades go largely untracked. But that could change as firms get more involved in digital assets. Seth, a 22-year-old investment-banking analyst in Chicago making … Read more
Governor Shaktikanta Das reiterated his views against allowing cryptocurrencies saying they are serious threat to any financial system since they are unregulated by central banks. The monetary authority on Wednesday again reiterated its strong views against cryptocurrencies saying they pose serious threats to the macroeconomic and financial stability of the country and also doubted the … Read more