Digital currency

The Department of Posts (DoP) and India Post Payments Bank (IPPB) have virtually unveiled a new digital payment app 'DakPay', an official statement said here on Tuesday.

Sweden's government will start exploring the feasibility of having the country move to a digital currency, marking another step into the unknown for the world's most cashless society.

The Libra Assosiation, which will manage Facebook's virtual currency, was formally established with the signatures of 21 Geneva founding members. This was announced on Monday night by the secretary general of the organization, Bertrand Perez, quoted by the French press.

France has proposed the EU to create its own national digital currency and abandon the use of Facebook's Libra cryptocurrency to protect its financial sovereignty. This was stated today by French Finance Minister Bruno Le Maire on his arrival at the meeting of the European finance ministers in Helsinki, BTA quoted Reuters and TASS as saying.

After five years of researches, the Chinese Central Bank has come close to introducing its own cryptocurrency, the official state media announced quoted by the Wall Street Journal over the weekend.

The Swedish Central Bank and the Bank of England carry out researches on whether they should start issuing Central Bank Digital Cash (CBDC) and compete with bank credit as a means of payment.

Today, Facebook is expected to present its cryptocurrency. It is reported that the virtual currency will be convertible into dollars and euros.

The $ 1 billion project named "Libra" has been developed for over a year and has the support of over 12 corporations.

Demand for bitcoin could single-handedly derail efforts to limit global warming because the increasingly popular digital currency takes huge amounts of energy to produce, scientists said on Monday, reported by Reuters. 

As the popularity of cryptocurrencies grows, so the legislation of the crypto industry develops too. Some states have their vision concerning digital currencies and are actively working on their implementation and adoption, while others are contra, fearing for security and considering crypto to be a threat.

The number of hedge funds focused on trading cryptocurrencies more than doubled in the four months to Feb. 15, despite sharp falls in the value of the virtual coins in recent weeks, data from fintech research house Autonomous NEXT showed on Feb. 15.