Terming cryptocurrencies a “clear danger”, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday said anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name. “While technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial … Read more
“Fortune favors the brave,” Matt Damon declared in a recent ad. Walking through computer-generated scenes of explorers and adventurers, Damon then told viewers how they could join the ranks of these brave people: by trading cryptocurrency on Crypto.com. The message from the Crypto.com ad — echoed by a slew of other crypto companies that paid … Read more
President Joe Biden has signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should create its own digital currency United States (U.S.) President Joe Biden on Wednesday signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether … Read more
BitConnect founder Satish Kumbhani, charged in the U.S. last week with a $2.4 billion Ponzi scheme, has vanished from his native India, officials told a New York judge. In September, before the criminal charges were filed, the U.S. Securities and Exchange Commission had sued Kumbhani, claiming he fraudulently raised more than $2 billion from investors … Read more
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
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