Cryptocurrency

Coinbase admits RBI’s use of informal pressure prompted hal

The tussle between India’s apex financial institution Reserve Bank of India and the crypto industry is finally out. Brian Armstrong, co-founder and chief executive of Nasdaq-listed Coinbase said the company disabled UPI payment from its platform due to informal pressure from RBI. Armstrong also stated that the RBI and government have been applying soft pressure…

US chipmaker Nvidia fined $5.5 mn over crypto mining disclosures

US-based chipmaker Nvidia will reportedly pay $5.5 million to settle charges that it unlawfully obscured how many of its graphics cards were sold to cryptocurrency miners. The US Securities and Exchange Commission (SEC) announced the charges and a settlement with the company. Its order claims Nvidia misled investors by reporting a huge boost in revenue…

Take a cautious approach in launching a digital currency, says re

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…

Now, Central African Republic says Bitcoin is its official curren

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…