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Central bank digital currencies CBDCs are also emerging as a new type of stablecoin. These may compete directly with private stablecoins. CBDCs may be used as a better settlement and interchange network among banks. Today, banks use outdated technology to talk to each other, while blockchains and stablecoins are much better technology that can solve several issues that banks have today. There is a bright future for stablecoins as both CBDCs and private interests issue their own digital tokens.

This is for the market to decide, but we do not necessarily see a bubble at the time of writing. Bitcoin allows people to keep their wealth relatively private and secure. Without trying to predict the future, the Indian market is definitely one of the fastest growing and most interesting markets for cryptocurrency. Such a move would be exceedingly difficult to enforce, both legally and operationally.

Bitfinex - could greater regulation have prevented its hack?

Accountability must always be balanced with financial privacy. This balance can be achieved in a market without an outright ban. Click here to read the Mint ePaper Mint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news. Looks like you have exceeded the limit to bookmark the image.

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Maharashtra govt extends Covid-related restrictions till 15 April amid surge. Details here 2 min read. Mumbai night curfew may start 10 pm or 11 pm from tomorrow: Mayor 2 min read.

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Mumbai sees over 6, new covid cases for first time ever, buildings sealed 1 min read. Karnataka reports 2, new Covid cases, 8 deaths 1 min read. DeFi apps offering insurance for cryptos 2 min read. DII's turns buyer so far this March, for the first time in six months 1 min read. This metal has given more returns than bitcoin this year.

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