Tag: Cryptocurrency

Cryptocurrency Gets a Boost in Russia as Sanctions Bite
Asia, Featured, World

Cryptocurrency Gets a Boost in Russia as Sanctions Bite

Russia could legalize cryptocurrency as a legal money operator, as the traders are keen on working in the legal space.  Russia is considering legalizing cryptocurrency as a legal tender, subject to rigorous controls, this is because the use of digital assets is growing rapidly in the country, and cryptocurrency traders are ardent to operate in a legal space.  Anatoly Aksakov, head of the State Duma Committee on Financial Markets, said that cryptocurrency could be used in foreign trade, the RT reported. He also noted that foreign banks are sometimes hesitant to interact with Russian cryptocurrency traders, which is why legalization would be beneficial. The Russian government is still working out to extract the details of how cryptocurrency would be governed if it were...
Role of Cryptocurrencies in the Russia-Ukraine Crisis
Featured, World

Role of Cryptocurrencies in the Russia-Ukraine Crisis

(Image credit: CSIS) Cryptocurrency and block chain technologies have the ability to change the way the world uses money and financial assets, especially in times of war. The role of the encoding currency in the Russian invasion of Ukraine is one of the first major examples of the influence of encoding technology and the scrap chain on the political geography and the unique features of crypto-technology, such as increased privacy and portability, distinguish it from the traditional currency of fiat because it is not supported by physical or third-party goods. These characteristics allow individuals and organizations to use and manage their money in new ways. Ukraine, Russia and its citizens are now using the cryptocurrencies to raise money, avoid sanctions, and take the financial risks...
Understanding Cryptocurrencies
Science & Technology

Understanding Cryptocurrencies

Unlike paper currencies, cryptocurrencies are decentralized i.e there is no central authority that issues, controls or overlooks them.“Block chain” is the underlying technology and the security of cryptocurrencies are backed by computer encryption algorithms like hashing and cryptography giving them the adjective “crypto”-currency.Start-ups are keen on utilizing this as an investing tool which will provide them independence over Venture Capitals with the usual method of investments.Due to the anonymity of the transacting parties, it exposes many loopholes to players for criminal activities like illegal weapon and drug dealing, terrorist activities, tax evasions etc. Cryptocurrency, in particular Bitcoin is one among the buzzwords that is going around in India and internationally to...