Page 7 - Digital Currency

Crypto weekly wrap: Despite gains, experts want investors to wait and watch

Ahead of much anticipated "Merge" Ethereum will be on the radar of the investors, however, it may not perform as good as it is expected to, experts said

Cryptocurrency and bitcoin price today, 9 Sept: BTC, ETH price rises

Cryptocurrency and Bitcoin price today, 9 Sept: Bitcoin and Ethereum price rises today. Read this detailed report to know the prices of cryptocurrencies, top gainers and top losers of the day

Digital currency to be launched as pilot project this year: RBI Deputy Guv

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar on Wednesday said that the central bank will launch its digital currency as a pilot project this year.

Digital currency: The govt would do well not to get carried away on CBDC

If financial inclusion is the goal of issuing CBDCs, it might not be worth it since UPI has been fairly successful in achieving it

Crypto wrap: Expect high volatility as inflation still a worry, say experts

Volatility in the crypto market comes at a time when the share markets too were showing high volatility, globally

Top Headlines: CBDC rollout this FY, banks deal with sanctioned entities

The Reserve Bank of India is planning to introduce its Central Bank Digital Currency (CBDC) this fiscal year in a phased manner

India's CBDC roll-out likely this fiscal with wholesale businesses

India's own sovereign-backed CBDC was first announced by Union Finance Minister Nirmala Sitharaman in the 2022 Union Budget

Mike Novogratz's Galaxy Digital terminates $1.2-bn acquisition of BitGo

"We are committed to continuing our process to list in the US and providing our clients with a prime solution that truly makes Galaxy a one-stop shop for institutions," he added.

7.3% of Indians owned digital currency in 2021, 7th highest in world: UN

Over seven per cent of India's population owns digital currency, according to the UN, which said that the use of cryptocurrency rose globally at an unprecedented rate during the COVID-19 pandemic

RBI issues digital currency for wholesale, retail segments in phased manner

The Reserve Bank of India is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for the wholesale and retail segments, an official said on Wednesday. The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to the relevant section of the RBI Act, 1934 has been made with the passage of the Finance Bill 2022, Ajay Kumar Choudhary, Executive Director (Fintech), Reserve Bank of India (RBI) said. The passage of the bill has enabled the RBI to conduct a pilot and subsequent issuance of CBDC, he said. "RBI is also working on phased implementation of a central bank digital currency (CBDC) in both wholesale and retail segment," Choudhary said while delivering a keynote address at the 'PICUP Fintech Conference & Awards' by FICCI. CBDC is a digital or virtual currency but it is not comparable to the private virtual currencies or cryptocurrency that have mushroomed over the last .

Understanding the e-yuan initiative

There is merit in carefully examining the recent developments in China's sovereign digital currency space and participating in it if India's interests are served

Wait and watch: Industry players on 1% TDS on crypto investments in India

The 1 per cent TDS will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year, according to the Section 194S in the I-T Act (as per the Finance Act, 2022)

Bitcoin heading to zero, says China state media amid global crypto downturn

Chinese state-run newspaper The Economic Daily earlier justified China's ban on cryptocurrency trading by taking examples of the collapse of stablecoins terraUSD and luna whose value reached zero.

Crypto platform FalconX doubles valuation to $8 bn despite downturn

The San Mateo, California-based startup said Wednesday that it had raised $150 million in a Series D funding from investors led by GIC and B Capital, a previous investor.

Crypto market value slumps under $1 trn for first time since Jan 2021

The largest cryptocurrency, bitcoin, was down more than 9% on the day, falling to an 18-month low of $23,950

G7 finance officials endorse principles for central bank digital currencies

G7 finance officials on Wednesday endorsed 13 public policy principles for central bank digital currencies, saying such currencies should be grounded in transparency

Edge launches Mastercard, enables users to spend with Bitcoin, Dogecoin

Edge Mastercard users sell their Bitcoin to the card when adding funds in the app, while merchants receive funds in USD

Consultation paper on digital assets may not lead to cryptocurrency policy

The government has also raised concern over complying with Financial Action Task Force (FATF) guidelines and discussed it with other countries, according to an official

Why Digital Rupee is a distraction and India ought to go slow on it

A digital currency is more of a fashionable trend and trends are for social media influencers, not governments

California moves to consider adoption and regulation of digital currencies

Gov. Gavin Newsom signed an executive order for state agencies to move in tandem with the federal government to craft regulations for digital currencies