Cryptocurrency Current Affairs

Marshall Islands to launch world-first digital legal tender

Marshall Islands in Pacific Ocean is set to become first country in world to recognize cryptocurrency as its legal tender and adopt transparent crypto monetary system. The parliament of island has passed law to create the digital currency called “Sovereign” with symbol SOV to raise some hard cash to pay bills and boost economy. Key Read More…

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Petro: Venezuela becomes first country to launch virtual currency

Venezuela become first sovereign country to officially launch its own cryptocurrency called Petro backed by oil, gas, gold and diamond reserves to circumvent US-led financial sanctions. Venezuelan President Nicolas Maduro has claimed that the pre-mined cryptocurrency Petrohas raised US $735 million on the first day of its pre-sale. Key Facts The Petro aims to help Read More…

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Petro: Venezuela launches new virtual currency

Venezuela has launched its own cryptocurrency called Petro to circumvent US-led financial sanctions. It will be backed by the country’s vast natural resource reserves. In this regard, Venezuelan President Nicolas Maduro has approved the creation of BlockchainBase observatory to oversee development and rollout of new cryptocurrency. Key Facts The Petro aims to help Venezuela to Read More…

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China bans Initial Coin Offering

The People’s Bank of China (PBC), central bank of China has banned individuals and organisations from raising funds through initial coin offerings (ICO) saying that practice constituted illegal fund-raising. The PBC notified that digital token financing and trading platforms are prohibited from doing conversions of coins with fiat currencies. Digital tokens cannot be used as Read More…

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