Bitcoin Current Affairs, GK & News

Bitcoin

Bitcoin is a piece of digital code which is also used by people as currency. It was started in 2009 by Satoshi Nakamoto, whose real identity is still shrouded in mystery. The maximum number of bitcoins that can be created is limited to ~21 million. How can one get bitcoins? Mining: Bitcoins are hidden in ..

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World’s First “Crypto-Backed” Payment Card

Crypto lender Nexo has collaborated with Mastercard to launch the world’s first “crypto-backed” payment card. This launch has signaled the move by financial and crypto networks to collaborate as digital assets are becoming more mainstream. Overview: Initially, the card will be available in selected European countries. It will allow users to spend without selling their ..

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IMF on El-Salvador Bitcoin legal tender

The International Monetary Fund recently asked El Salvador to remove the legal status of bitcoin. What happened? In September 2021, El Salvador became the first country to allow its consumers to use cypto currencies. Fear arose all over the country that bitcoin might bring inflation and instability to the country. What is IMF Saying? IMF ..

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Digital Yuan Wallet Apps

Digital Yuan is the digital currency of China. It was first launched in 2014 and has been working (test working) since then. The Digital Yuan is not a crypto currency. It is controlled by the Central Bank of China. The Government of China has plans to launch the currency internationally at Winter Olympics 2022. It ..

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Myanmar: NU Government officially accepts Tether cryptocurrency

Myanmar’s shadow government has allowed the use of world’s largest cryptocurrency called Tether. Key Points Tether Cryptocurrency will be used as an official currency. This move will make it easier to raise funds and make payments. Background The National Unity Government (NUG) comprises of pro-democracy groups and some members from Myanmar’s civilian administration, which was ..

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Karnataka Bitcoin scam: Things to know

Central Crime Branch Police of Bengaluru, arrested 26-year-old Srikrishna Ramesh alias Sriki, on November 4, 2020. What is the issue? He was arrested as per provisions of Narcotic Drugs & Psychotropic Substances (NDPS) Act in a drug case. Sriki has been accused of procuring drugs using bitcoins via darknet and peddling to high-profile clients. This ..

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