A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day
Cryptocurrencies traded in the green early on April 19. The global crypto market cap is $1.89 trillion, a 2.21 percent increase over the last day. The total crypto market volume over the last 24 hours is $95.69 billion, a 58.86 percent increase
Over the last few weeks, crypto exchanges have been facing multi-faceted challenges as trading volumes continue to drop and UPI and other major payment methods have been frozen across top crypto exchanges. In the last few days, banks including Kotak Mahindra have withdrawn support from exchanges in what can be seen as a domino effect after US crypto exchange Coinbase was forced to pause UPI on its platform.
The Reserve Bank of India (RBI) is in the process of designing a framework for the launch of a central bank digital currency in 2023.
A CBDC is essentially legal tender issued in a digital form distinct from a private cryptocurrency which does not have sovereign legal backing. Many jurisdictions are driven by financial inclusion and digital payments goals to launch a CBDC