Bitcoin and other cryptocurrencies rose after Visa Inc. said its payments network will use a stablecoin backed by the U.S. dollar to settle transactions, as blockchain technology gains more acceptance in the established financial system. As part of a pilot program, Visa is using USD Coin to settle transactions over Ethereum, with the help of…
Bitcoin fell amid a wider retreat in assets that had earlier ridden a wave of stimulus-infused optimism among retail traders. The largest cryptocurrency dipped 2% to about $52,850, a two-week low, as of 7:23 a.m. in London. The token is mired in its longest losing streak since December. The wider Bloomberg Galaxy Crypto Index is…
The Reserve Bank has “major concerns” on the cryptocurrencies traded in the market and has conveyed the same to the government, its governor Shaktikanta Das on Thursday said. Underlining that both the government and the RBI are “committed to financial stability”, Das said there are no differences between the central bank and the Finance Ministry…
The Ministry of Corporate Affairs (MCA) has made amendments to rules in the Companies Act, mandating firms to disclose their investments in cryptocurrencies, spend on corporate social responsibility (CSR), and benami property transactions, among others, in their financial statements from the next financial year. Companies will also have to disclose their relationship with struck-off firms…
What explains Pakistan Army Chief General Qamar Ahmed Bajwa’s call for India and Pakistan to bury the hatchet and make a new beginning? Is the overture for real? How should India respond given past disappointments? Shekhar Gupta assesses the geo-strategic options for both countries here Other views this weekend examine the implications of tectonic technology…
Fears are rife about the future of cryptocurrency industry in India. Offering little foresight, the government is working on a cryptocurrency legislation that may or may not allow cryptocurrencies like Bitcoin to flourish here. There is, however, some confidence that the Centre will allow, rather, promote, innovations around blockchain, the underlying technology for Bitcoin “We…
Robot artist Sophia, whose first artwork goes up for auction on Wednesday, says she draws inspiration for her work from people and is open to future creative partnerships with humans. A digital artwork by the Hong Kong-based Hanson Robotics humanoid, in the form of a Non-Fungible Token (NFT), is to be auctioned in the first…
By Elizabeth Howcroft LONDON (Reuters) – Twitter boss Jack Dorsey sold his first tweet as an NFT for just over $2.9 million dollars on Monday. var banHeight=$(“.article-middle-banner iframe”).height();if(banHeightdisplayConBanner=1;
Federal Reserve Chair Jerome Powell said Monday that the US public needs to understand the risks behind Bitcoin and other crypto currencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. Powell said the Fed prefers to call crypto coins crypto assets, because their volatility undermines their…
India’s impending regulations on cryptocurrencies, which in all likelihood will not be favourable, have spurred a comparison with laws in other countries. Sure, bitcoin and cryptocurrencies are a Western phenomenon (which the Chinese caught onto) and it is understandable that friendly regulations have been behind their organic growth. An overview reveals that in most major…
