This is essentially an electronic version of notes or coins which would replace physical cash entirely and dubbed central bank digital currencies or CBDC. China is one of the leading countries for this and has already passed a law to legalise its own official digital currency. Similarly, India is an example of another country that is considering having its own digital currency. Last month, Tesla bought over a billion dollars worth of bitcoins.
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The electric car maker said it plans to accept the digital coin as payment for its products. Mastercard has also said it would also soon accept bitcoin as a form of payment.
Asset manager BlackRock and payment companies Paypal and Square have also recently backed cryptocurrencies. Back home, the question remains whether the government, central bank or the Securities Commission SC would take a stronger stance against cryptocurrencies. Malaysia is also one of the countries studying the feasibility of issuing its own digital currency.
More collaborations among central banks around the world are taking place to study the impact of a digital currency for financial stability and the monetary policy of a country. Cryptocurrencies under fire. Cryptocurrency Saturday, 20 Mar Related News.
Countries Where Bitcoin Is Banned or Legal In 2021
AseanPlus News 3h ago China's cashless payments top 4, trillion yuan in Thailand 21 Mar Thailand's central bank plans stablescoins regulations this year. Article type: metered. Topic: Cryptocurrency. Did you find this article insightful? Related News.
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Next In Business News. CPO futures to see technical rebound next week. China's Jan-Feb industrial profits surge in boost to economic recovery. Brexit and the City of London: what has changed? You can buy it, you can mine it or you can earn it through selling products or services.
Buying from a cryptocurrency exchange is the easiest way. Buying from an exchange simplifies this process.
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Cryptocurrency exchanges, many of which are unregulated, have been targets of theft and fraud. More than , bitcoins have been stolen from exchanges since , few of which have been recovered.
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When you trade on an unregulated or unsecured exchange, you risk losing all your assets. Luno is the first digital asset exchange to be fully approved by the SC, which means that it has to comply with regulations that help ensure the safety of its users and their assets. Although Luno has recently relaunched in Malaysia after its SC approval, the platform has been around since , with over 3 million customers spanning over 40 countries. The exchange has also made it into the top-ten of the CryptoCompare Exchange Benchmark published on November 19th, All Categories All Categories Close.
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January 8, Investment , Sponsored. Share this! Share Tweet Email WhatsApp. Written by Jen-Li Lim In partnership with Do you happen to be an investor, a trader or a tech enthusiast? Luno makes it safe and easy to buy, store and learn about cryptocurrencies.