The country now sits in the number two spot — just behind the US — as one of the hottest crypto mining spots, according to data from the University of Cambridge.
Local crypto currency exchanges are also growing exponentially. CoinDCX, backed by B Capital, and CoinSwitch Kuber, backed by a16z and Coinbase Ventures, became unicorns this year.
While not providing details, the agencies said the rapid growth of cryptocurrency presents “potential opportunities and risks” for traditional banks
Separate groups are exploring several use cases, including electric power P2P trading, security tokens, retail payments, industrial settlements, regional coins, and NFTs
Meanwhile, Time Magazine will begin publishing content on the metaverse, and Vogue Singapore dedicated its September issue to NFTs.
The Securities and Exchange Commission warned against investing in the temple’s currency
The pressing issue is that it becomes difficult for law enforcement to track crimes involving cryptocurrencies which leaves a thin chance to recover lost funds for victims
Bitcoin has been legal tender in El Salvador alongside the U.S. dollar since Sept. 7.
As crypto doesn’t derive its value from any underlying assets or earnings, the authorities find it unsettling.
Anand Mahindra took to Twitter to dismiss all the reports of him investing in cryptocurrencies along with a few screenshots of news reports stating that he earns millions every day through crypto investments.