RBI sets up a special ‘Cryptocurrency’ and ‘Blockchain’ technology research unit

RBI sets up a special ‘Cryptocurrency’ and ‘Blockchain’ technology research unit

New Delhi: The Reserve Bank of India has established an independent unit for research on Cryptocurrency, Blockchain and Artificial Intelligence. This particular unit is reportedly responsible not only for keeping an eye on the new emerging technologies of Cryptocurrency and Blockchain but also for drafting rules and regulations regarding the same. RBI has issued a […]

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Greece should quit the Euro and use Drachma as its currency, warns former Greek Finance Minister

Greece should quit the Euro and use Drachma as its currency, warns former Greek Finance Minister

Athens: The European lending agencies have converted Greece into a dead colony wherein Greeks will have to suffer pain and poverty for many years to come, accused former Finance Minister of Greece. At the same time, he warned that Greece should quit the Euro and start using the old Drachma currency. It was announced on […]

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Turkey currency crisis is a threat to the German economy, warns German finance ministry

Turkey currency crisis is a threat to the German economy, warns German finance ministry

Berlin: The sliding Turkish Lira is creating additional perils for the German economy, cautioned the German finance ministry. The value of the Turkish Lira has fallen by more than 50% against the US dollar, and the debt burden on the country also has increased. Germany being the country with the highest investments in Turkey will […]

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US imposes sanctions on Turkish officials over detention of Pastor, causes Turkish currency ‘Lira’ to slide

US imposes sanctions on Turkish officials over detention of Pastor, causes Turkish currency ‘Lira’ to slide

Washington/Ankara: Turkey’s involvement in the Syrian conflict and its cooperation with Russia has caused serious stress on its relations with the U.S. The U.S. has now declared sanctions on Turkish officials as the country failed to act on the detention of the U.S. pastor Andrew Brunson, despite requests from the U.S. The US Treasury Department […]

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The final verdict on crypto-currency scheduled on 11 September by Supreme Court

The final verdict on crypto-currency scheduled on 11 September by Supreme Court

New Delhi/ Mumbai: The Reserve Bank of India (RBI) had declared a complete ban on the virtual Currency, Cryptocurrency transactions in India. Until then, the Supreme Court has postponed the next hearing on the petition is scheduled on 11th September. Accordingly, the court will announce its final verdict on this petition. The RBI had banned […]

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East and southern African countries debate accepting Chinese Yuan as reserve currency at the conference in Zimbabwe

East and southern African countries debate accepting Chinese Yuan as reserve currency at the conference in Zimbabwe

Harare: Influence and scope of the Chinese Yuan which was accepted as a global ‘Reserve Currency’ by the International Monetary Fund two years ago, is on the rise. In an economic conference held in Africa on Monday, there were comprehensive discussions about officially accepting Yuan as a Reserve Currency. A few African countries including Angola, […]

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Abandoning Dollar and Euro, Russia and China should start using local currency, demand Chinese Industrialists

Abandoning Dollar and Euro, Russia and China should start using local currency, demand Chinese Industrialists

Shanghai: “The sanctions imposed by the United States and Europe have created an opportunity for Russia and China to strengthen their mutual economic cooperation and that both the countries should use the local currency for mutual trade,” demand Chinese industrialists. This statement was made in the ‘Valdai Discussion Club’ meeting in Shanghai. Russia being the […]

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Australian ‘Perth Mint’ announces gold-based ‘Cryptocurrency’

Australian ‘Perth Mint’ announces gold-based ‘Cryptocurrency’

Canberra: The popularity of ‘Bitcoin’ among investors world over has prompted some main countries along with banks and some big financial institutions to make moves to start their own cryptocurrency. With this background, the largest ‘Gold Refinery’ in Australia, ‘Perth Mint’ has announced its own cryptocurrency. Richard Hayes, the chief executive of the ‘Perth Mint’ […]

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