The World Bank has said that introduction of the Central Bank Digital Currency (CBDC) could potentially pose risks to privacy, increase responsibilities of the central bank, and may also lead to currency substitution through cross-border transactions. “The introduction of CBDC could disrupt the existing financial-intermediation structure. In addition, depending on design and country context, CBDC…
Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card. It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream. Nexo said the card, available in selected European countries…
Big Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using a widely-used state-backed transfer system, spurring users to voice concern on social media. India has spent years on a law to ban or regulate cryptocurrencies, with its central bank backing a ban over their threat to financial…
Crypto trading platform CoinSwitch Kuber has disabled all payments modes for crypto purchases on its platform, including bank transfers. Users of the CoinSwitch mobile app are no longer able to make rupee deposits via Unified Payments Interface (UPI) or bank transfers via NEFT, RTGS, IMPS, and other methods. The news comes days after Coinbase, one…
Bitcoin briefly dropped below its 50-day moving average, sliding back further into the range in which it has traded this year. The largest cryptocurrency fell as low as $41,918 on Monday morning in Asia, retreating for the seventh day in the past eight. Since peaking at just above $48,000 in late March, Bitcoin — and…
The official Twitter handle of the Punjab Congress was hacked on Monday. Punjab Congress’s official Twitter handle was hacked on Monday. The hackers removed the profile picture and posted a tweet that read, “In celebration of the reveal of the Beanz Official collection, we have opened up an airdrop to all active NFT traders in…
The CBI on Sunday refuted reports that a team of the US’ Federal Bureau of Investigation (FBI) was in India to probe the alleged bitcoin case being investigated by the Karnataka Police, and termed the statements “speculative” and “without any basis”. In a statement, the central agency said the FBI has not sent any team…
Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and other digital assets and to ward off fraudulent and illicit transactions. In practice, one result would be that users would get documentation of their crypto dealings for use in filing their taxes. Taxpayers should receive the same type…
US-based crypto platform Coinbase, which debuted on Nasdaq last year at a market capitalisation of $100 billion, announced the launch of its crypto trading platform in India on Thursday. The company said that crypto traders in India can sign up on the platform with their Aadhaar cards and use their United Payments Interface (UPI) accounts…
Crypto exchange Binance is leading investors’ contribution to a bailout of victims of a $615-million digital coin theft, the company targeted in the heist said on Wednesday. The Vietnam-based company Sky Mavis, which runs the game Axie Infinity, said last week it had been hit by one of the largest crypto heists on record, leaving…
