Bitcoin in money control

Related stories. Jayadevan PK is a business and technology writer. He now works with Freshworks Inc as an evangelist, focusing on efforts around brand building. He is a commissioned author at HarperCollins and his newsletter can be found on turnaround. TAGS: blockchain crypto ecosystem cryptocurrencies cryptocurrency cryptocurrency ban Nirmala Sitharaman.

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Finance Minister Nirmala Sitharaman. (File Image)

Trending news. Why criminalising cryptocurrencies will set India back. Moneycontrol Daily: Your Essential 7.

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Twitter tries app that lets you place Suez-blocking ship anywhere in Desktop Version ». The current stage of Bitcoin is one where there is limited supply and a very high demand. Apart from decentralization and democracy, the basic idea of cryptocurrency is that there must be no restrictions or controls.

Bitcoin slips sharply from record highs

Cryptocurrencies do not maintain your records. When you exchange any cryptocurrency, all that gets stored in the decentralized ledger we just told you about, is the fact that the currency was exchanged. Your identity does not get stored. You can buy almost anything on the dark web without your identity being revealed and that is a real danger in popularizing cryptocurrencies. But most importantly, this anonymity in cryptocurrencies can give rise to terror funding and money laundering. There have been many ransomware virus attacks — websites of large companies have been held hostage.

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Bitcoin Passes $60, For First Time

Related stories. Kayezad E Adajania heads the personal finance bureau at Moneycontrol.


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He has been covering mutual funds and personal finance for the past two decades, having worked in Mint and Outlook Money magazine. Hiral Thanawala is a personal finance journalist with 8 years of reporting experience.

Infosys co-founder Nandan Nilekani

Based in Mumbai, he covers financial planning, banking and fintech segments from personal finance team for Moneycontrol. TAGS: bitcoin cryptocurrency invest video. Must Listen. Why Indian pharma wants more growth from its home market. How Modi govt plans to end misuse of social media, stop fake news and Budget Infra push for poll-bound states in FM's big-ticket Desktop Version ».

Bitcoin has already become an asset class in India. There are more than 1 cr people holding the crypto in India. Elon Musk on Twitter said Tesla can accept bitcoin payments directly and that those sums "will be retained as bitcoin, not converted to fiat currency. Powell also said the Fed is researching the potential for a central bank digital currency, though he added that the Fed is not yet near a decision about implementing one.

While the Nifty has jumped 73 percent in FY21, bitcoin has seen a dizzying rally of more than percent, as per Coinmarketcap. Gold has risen just about 7 percent in FY21, so far. Visa announced a partnership with First Boulevard, a digitally native neobank focused on building generational wealth for the Black community.