RATE Group | Cryptocurrency This Week: Iran Speeds Ahead Of RBI To Reveal Its Fiat Cryptocurrency, Ch…
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Cryptocurrency This Week: Iran Speeds Ahead Of RBI To Reveal Its Fiat Cryptocurrency, Ch…

01 Sep Cryptocurrency This Week: Iran Speeds Ahead Of RBI To Reveal Its Fiat Cryptocurrency, Ch…

Posted at 14:08h in Cryptocurrency News by

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Indian Central Bank Reserve Bank of India (RBI) has now formed an inter-departmental group to study and provide guidance on the desirability and feasibility to introduce a central bank fiat cryptocurrency. However, the RBI’s annual report 2017-2018 has also evinced the monetary imbalance, dark web trading and unreliability and volatility that the existing cryptocurrencies pose.

Moving on, one important wired logic to adopt cryptocurrencies, given so far, is that ‘it is safe and secure’. Hard cash, credit/debit cards could be stolen easily; but, not Bitcoin. However, amid increasing cryptocurrency theft and hacking cases, a parallel development has been on developing a physical vault and wallet to ensure the safety and security of cryptocurrencies. Russian watchdog Federal Financial Monitoring Service has even ordered an analytical tool for tracking transactions with cryptocurrencies, in particular with Bitcoin.

The developments are certainly not in the spirit of the…

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