India should take a cautious and gradual approach towards launching a central bank digital currency (CBDC) as developing it could have some hazards, including those to institutions, end-users of retail CBDCs, and the reputation of the central bank, says a National Council of Applied Economic Research (NCAER) working paper. The paper has been co-authored by…
The Central African Republic declared Bitcoin an official currency, the second nation in the world to accept the cryptocurrency as legal tender. “Cryptomoney including Bitcoin is now considered an official currency in CAR,” Albert Mokpeme, spokesman for President Faustin-Archange Touadera, said on Thursday. “By legaliding the use of Bitcoin, CAR hopes to attract investors,” he…
Flagging concerns over likely misuse of crypto, Finance Minister Nirmala Sitharaman has said India will take a considerate decision on regulation around the virtual currency. The decision on crypto will not be rushed through, she said in an interaction at Stanford University. “It will have to take its time…all of us to be sure that…
The current inflation is yet another reason causing people to look for ways of efficiently increasing their capital. As interest rates are low, traditional savings accounts don’t really do anything for investors anymore – to many, the stock market seems to be the perfect alternative. It promises high returns, but also bears risks. Experienced stock…
Ether has promised to do better. It has promised to go to the next level, edging out crypto rivals and even outshining the godfather, bitcoin. But the clock’s ticking. The No.2 cryptocurrency was supposed to be weeks away from the “merge”, a transformative June upgrade of its blockchain Ethereum to make it faster, cheaper and…
Bitcoin extended this month’s losses in Monday trade as investors shied away from risk assets amid a more hawkish outlook for Federal Reserve policy tightening. The largest cryptocurrency slid as much as 3.3 per cent to $38,223, the lowest since March 15, and down more than 20 per cent from last month’s high. It was…
Coinbase Global’s marketplace for nonfungible tokens is finally here in what could be key to reviving the crypto exchange’s growth prospects a year after its fizzling public debut. A trial version of its long-awaited platform — designed to sell ownership of digital art and possibly other items — was unveiled on Wednesday in the company’s…
A fledgling class of crypto that feasts on risk is outshining a wider market paralyzed by war and inflation. Coins backed by gold are newer variants of “stablecoins”, which are typically pegged to the dollar to tame volatility. The largest, Pax Gold or PAXG, has jumped 7.4% in 2022, while main rival Tether Gold has…
Crypto exchange CoinDCX raises $135 mn in funding as valuation tops $2 bn Indian crypto exchange CoinDCX has raised $135 million in its Series D funding round, with a valuation of over $2 billion. The round was led by Pantera and Steadview and saw participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred. The…
Indian crypto exchange CoinDCX has raised $135 million in its Series D funding round, with a valuation of over $2 billion. The round was led by Pantera and Steadview and saw participation from prominent investors like Kingsway, DraperDragon, Republic, and Kindred. The latest funding round also saw existing investors such as B Capital Group, Coinbase,…
