Govts, markets and societies alike will have to adjust and transform. Central bank digital currency’s entry is the onset of real fintech disruption, writes Neha Baid.
The price of the digital currency has surged more than 80% so far this year. A single bitcoin currently costs around $ 55,000 and there are about 18.6 million of them in circulation.
A bill to ban private cryptocurrency will soon be sent for cabinet approval. However, it will also enable the issuance of a digital currency by the RBI.
The MoS Finance said that RBI and SEBI do not have any legal framework to regulate cryptocurrencies as they are inadequate to deal with issues concerning them.
Until its recent initial public offering, the moneyed folk who would never deign to set foot in an Airbnb Inc. property could buy in, whereas a younger, regular user could not.
PayPal customers can now buy, sell and hold cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin from digital wallets, as well as use the virtual money to shop.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
COMMENTS