Cryptocurrencies are digital tokens — not coin or cash — but digital money which allow people to make payments directly to each other through an online system set-up to allow peer-to-peer transactions without needing a bank. Cryptocurrency payments exist purely as digital entries into an online database that describes specific transactions. Cryptocurrency is stored in a digital wallet. Cryptos came into existence after the 2008 financial market crisis when a need was felt to democratise how currencies are held, exchanged and regulated. That year a person under the anonymous name Satoshi Nakamoto invented Bitcoin. Cryptos today also include Ethereum, Tether, Cardano, and Dogecoin, among others. Cryptos are more democratic in nature – you can use them in any part of the world, but as much as you want and use them anywhere. There is a network of people and their computers which maintains a ledger and any transaction must be validated by all those present in that network. The ledger then gets updated to reflect the transaction. This technology is called blockchain. Cryptos also express values in units similar to traditional currency and some people also consider Bitcoin comparable to gold as they are finite in number and supply and need to be mined. Mining is the process by which new cryptos enter circulation and is also a critical component of the maintenance and development of the blockchain ledger. More
June 29, 2024 06:16 AM IST The new requirements aim to crack down on crypto users who may be failing to pay their taxes, and stem from the $1 trillion bipartisan 2021 Infrastructure Investment and Jobs Act. At the time the bill was passed, it was estimated that the new rules could bring in close to $28 billion over a decade.
June 20, 2024 10:40 AM IST This comes months after nine offshore exchanges in India were blocked for not registering and following local anti-money laundering regulations under the Prevention of Money Laundering Act (PMLA) 2002.
June 06, 2024 10:35 PM IST CoinDCX aims to get $100 million AUM by 2025 through this product.
June 06, 2024 10:16 AM IST Citing Sensor Tower data, KuCoin highlighted that it has crossed CoinDCX and CoinSwitch’s app download growth, which saw an increase of 26.3 percent and 15.1 percent respectively, to become the fastest growing.
May 28, 2024 09:43 PM IST Earlier this year, Mike Novogratz had even predicted that Bitcoin will be ‘larger than gold’ thanks to baby boomers’ trillions.
May 24, 2024 01:38 PM IST Sato further said there would be a farewell party on May 26 at Flower Kaori in Kotsu no Mori, Narita City, Japan.
May 22, 2024 01:05 PM IST On Tuesday, Ethereum was poised for its largest two-day surge in almost two years, driven by speculation over the outcome of U.S. spot exchange-traded fund applications for the world's second-largest cryptocurrency. Ether increased by over 8% to nearly $3,780, following a nearly 14% jump on Monday. Bitcoin also saw gains, now just 4% below its March peak of over $73,800.
May 21, 2024 05:04 PM IST Interest in cryptocurrencies is driven by speculative motives rather than a means of payment for real economic transactions, the RBI bulletin has said
May 18, 2024 07:12 AM IST Genesis is paying customers back in crypto where possible, but it does not have enough cryptocurrency to give back everything it owes.
May 10, 2024 06:40 PM IST While Binance’s penalty is yet to be decided, KuCoin which is fully registered has paid out Rs 34.5 lakhs in penalty and is now operational, said FIU-IND director Vivek Aggarwal.
May 10, 2024 10:41 AM IST In an exclusive interview with Moneycontrol, KuCoin’s CEO Johnny Lyu gets candid about the company’s India ‘glocal’ strategy, challenges of operating an exchange in the country, strategic investment plans, localised payment solutions and more.
April 30, 2024 05:25 PM IST Bitcoin, which is the largest cryptocurrency by market value, fell 4.04 percent to Rs 51,12,625.33 on April 30, while the second largest digital asset Ethereum slipped 6.25 percent to Rs 2,51,570.37
April 20, 2024 03:07 PM IST Going by the trends in all the past Halving events, Bitcoin prices are unlikely shoot up over the next few weeks, experts said.
April 18, 2024 09:58 AM IST The survey, featuring 8,976 people across the country, found that 45 percent had invested in cryptocurrencies as part of their long-term retirement plans. Financial advisors, however, say investors should limit their investments in cryptocurrencies to the bare minimum and not depend on them for their retirement.
April 16, 2024 05:21 PM IST Legislation proposed by Congressman Patrick McHenry that would create a regulatory framework for the industry is sorely needed, whatever its final shape
April 06, 2024 06:17 AM IST The 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge should not have relied on a December 2021 user agreement to find that Coinbase did not hold title to, and was not the seller of, 79 tokens that the customers traded.
April 02, 2024 07:13 PM IST It was the first time since March 24 that the digital asset went below the $65,000-mark.
April 02, 2024 03:58 PM IST 'It started with a promising opportunity @crankybugatti on Twitter reached out to me regarding a design role in a company related to a web3 communication app called Social Spectra,' Naved Alam, 22, said.
March 29, 2024 01:53 PM IST Sending the one time wunderkind to jail for 25 years and stripping him of $11 billion should act as powerful deterrent in a business still badly in need of cleaning up
March 29, 2024 01:20 PM IST The top three exchanges, including WazirX, CoinDCX, and Zebpay, have collectively surpassed trading volumes of over $584 million in March, compared to $189.91 million at the end of February.
March 28, 2024 08:22 PM IST The hearing marks the final step in Bankman-Fried’s downfall from an ultra-wealthy cryptocurrency entrepreneur and major political donor to the biggest trophy to date in a crackdown by U.S. authorities on malfeasance in digital asset markets.
March 26, 2024 09:24 PM IST In a statement, the CFTC said Kucoin had solicited and accepted orders for commodity futures, swaps and other commodity transactions without registering with the commission.
March 26, 2024 06:21 AM IST Bitcoin rose 7.15% to $70,900 at 2010 GMT on Monday.
March 19, 2024 01:09 PM IST The price was last down 5.25% at $63,806, having hit a two-week low of $63,555, while ether dropped 5.1% to $3,326.
March 15, 2024 11:20 AM IST Bitcoin fell more than 5% in the Asian session to bottom at $66,629.96, before paring some of its losses to last trade 3.5% lower.
