G7 Countries has said that digital currencies such as Facebook Libra raise serious concerns and must be regulated as tightly as possible to ensure they do not upset the world’s financial system. Recently,Facebook had decided to launch a cryptocurrency called Libra.The currency is designed not to be a speculative asset like Bitcoin but a form… Continue reading G7 urges strict Libra regime, eyes minimum tax
Tag: cryptocurrency
Facebook to unveil new cryptocurrency
Facebook has decided to launch a cryptocurrency called Libra. The currency is designed not to be a speculative asset, like Bitcoin, but a form of digital money backed by a reserve of assets. Facebook has also formed the non-profit Libra Association with 27 other partners to oversee Libra and its development. The partnership includes venture… Continue reading Facebook to unveil new cryptocurrency
Draft bill moots 10-year jail for crypto dealing
Government has introduced a draft bill on Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019. The draft bill says that anybody who mine, hold, transact or deal with cryptocurrencies in any form whether directly or indirectly through an exchange or trading can attract a jail term of one to 10 years. The… Continue reading Draft bill moots 10-year jail for crypto dealing
Crypto currency is Ponzi scheme
Investor Education and Protection Fund(IEPF) Authority has said that Crypto currency is a ponzi scheme and should be banned in India to protect the interests of investors. IEPF has also said that crypto currencies are based on blockchain technology and there are concerns about its viability in the long-term due to risk to investors,especially considering… Continue reading Crypto currency is Ponzi scheme
