#crypto #cryptocurrency #cryptobill
As the government readies a Crypto Bill aimed at promoting a Digital Currency over the rampant crypto trade, EJ Biz looks at what is the big difference between the two digital tokens as we have see a faceoff between Digital Currency vs Crypto Currency
Also read| Crypto Bill: A look at how the world is regulating cryptocurrencies
The Issuer
Central bank digital currency or CBDCs are issued by governments and are regulated and backed by the central banks
Cryptocurrencies are developed by private parties independently from a central bank or government institution. Cryptos also make use of blockchain technology, a digital ledger system that records crypto transactions
Who has got your back?
The digital currency will be backed by the state and the central bank, which means in the event of a technical breakdown the regulator takes control
The digital currency is centralized; transactions are controlled by servers belonging to the central bank
Instead of being a tradeable asset with wildly fluctuating prices, central bank digital currencies would function more like their fiat counterparts, and would have widespread acceptance.
Cryptocurrencies are decentralized within the structure; the rules are dictated by the majority of participants in a crypto community and can face unregulated volatility.
#bitcoin #crypto #cryptocurrency #cryptocurrencybill #narendramodi #blockchain #forex #btc #ethereum #money #trading #bitcoinmining #investment #investing #cryptotrading
Crypto Bill: A look at how the world is regulating cryptocurrencies
Crypto Bill: Centre seeks to ban private currencies, prices crash in India
India’s first crypto fixed deposits are here
For more videos, subscribe to our channel: www.youtube.com/c/editorji
Check out the editorji website for more news: www.editorji.com
To stay updated, download the editorji App: www.editorji.com/download
Follow editorji here:
Facebook: https://www.facebook.com/editorjitech/
Twitter: https://twitter.com/editorji
Instagram: https://www.instagram.com/editor_ji/?hl=en
Telegram: https://t.me/editorji
——————————————————————————————–
