Digital currency Current Affairs, GK & News

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 ..

Month: Current Affairs - January, 2022

Category: Economy & Banking Current Affairs - 2022 • International / World Current Affairs

Topics: Bitcoin • China • Digital currency • digital yuan • Yuan

Global Consortium for Digital Currency Formed by WEF

For the adoption of digital currencies, the first Global Consortium which focussed on creating a framework for Governance of Digital Currencies was announced on Friday, 24th January 2020 by the World Economic Forum. The announcement was made during the last day of the 50th annual meeting of WEF, held in Davos, Switzerland. Over the last ..

Month: Current Affairs - January, 2020

Topics: cryptocurrencies • Davos • Digital currency • Global Consortium • Switzerland • World Economic Forum

Finance minister: MDR charges not applicable for RuPay and UPI from 2020

On December 28, 2019, Finance Minister Nirmala Sitaraman announced that Merchant Discount Rate (MDR) will not be applicable on bank transactions made through RuPay and UPI platforms. Highlights The Finance Ministry has directed the banks to start campaigns to popularize UPI and RuPay debit cards. Also, the banking companies with an annual turnover more than ..

Topics: BHIM • Debit cards • Digital currency • digital economy • Merchant Discount Rate • NEFT • QR code • Union Finance Minister

Bitcoins

Bitcoin is one of the most well-known as widely used cryptocurrency in the world. Bitcoin is a global digital currency without the backing of any central bank or regulations of a single administrator. How do bitcoins work? Bitcoins are created as a reward for a process known as mining in which computing power is used ..

Topics: Bitcoins • Blockchain • Carbon emissions • Cryptocurrency • Digital currency

Subhash Chandra Garg heads Cryptocurrency panel that proposes ban on private digital currencies

The Inter-Ministerial Committee (IMC) set up to look into the legality of cryptocurrencies and blockchain has recently submitted its report to the Finance Ministry and recommended that private cryptocurrencies be banned completely in India. It has also drafted a law, the ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’, which mandates a ..

Topics: Bitcoin • Blockchain • cryptocurrencies • Cryptography • Decentralization • Digital currency • Financial technology • Technology • Uberisation

Inter-Ministerial Committee on Virtual Currencies submits Report

Inter-Ministerial Committee on Virtual Currencies headed by finance secretary Subhash Chandra Garg has submitted its report to the government. The committee set up by Centre has also proposed a draft bill ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’. Background Government had constituted an Inter-Ministerial Committee (IMC) on 2 November 2017 under ..

Month: Current Affairs - July, 2019

Category: Economy & Banking Current Affairs - 2022

Topics: Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019 • Digital currency • DLT Technology • Inter-Ministerial Committee on Virtual Currencies • Private Cryptocurrencies • Subhash Chandra Garg Committee