Meme coins

Facts for Prelims (FFP)   Source: Business Standard   Context: Meme coins, a subset of cryptocurrencies, have gained popularity within the digital currency realm. Originating from internet meme culture, these coins are often created as humorous tributes and lack substantial underlying value. Their key characteristics include extreme volatility, large or uncapped supplies, and easy creation …

[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 09 March 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

Crypto awareness campaign

GS Paper 3 Syllabus: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights.   Source: The Hindu   Context: The Investor Education and Protection Fund (IEPF) will launch an outreach programme soon to create awareness of cryptocurrencies and online gaming.   About Investor Education and Protection Fund (IEPF) …

The Markets in Crypto-Assets (MiCA)

GS Paper 3: Syllabus: Effects of liberalisation on the economy (post-1991 changes), changes in industrial policy and their effects on industrial growth.   Context: Recently, EU Parliament agreed upon a new law Markets in Crypto-Assets (MiCA) to regulate cryptocurrencies. Recent issues: Stablecoins came in question after the crash of Terraform Labs’ Luna token. About MiCA: …

What is crypto lending? How does crypto lending further complicate the crypto currency paradigm? Discuss the measures that are needed to overcome the complications.

Topic: Science and Technology- developments and their applications and effects in everyday life. 5. What is crypto lending? How does crypto lending further complicate the crypto currency paradigm? Discuss the measures that are needed to overcome the complications. (250 words) Difficulty level: Easy Reference: Indian Express Why the question: Crypto lending is essentially banking – …

SC asks Centre to clarify on legality of cryptocurrency:

GS Paper 3: Topics Covered: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights.   Context: The Supreme Court has asked the Centre whether dealing with cryptocurrencies like bitcoin is legal in India. The Court posed the query while hearing a plea by one of the …

What are NFTs?

GS Paper 3: Topics Covered: Developments in Science and Technology.   Context: NFTs are gaining massive popularity now because they are becoming an increasingly popular way to showcase and sell your digital artwork. Billions of dollars have been spent on NFTs since its inception—which date backs to 2015.   What are NFTs? An NFT is …

Cryptocurrencies a challenge for emerging markets, regulation needed: IMF chief economist

GS Paper 3: Topics Covered: Effects of liberalization on the economy   Context: International Monetary Fund (IMF) Chief Economist has made a strong case for regulating cryptocurrencies, saying it will always be a challenge to ban them as they operate from offshore exchanges; and feels it to be more attractive to adopt cryptocurrencies and assets in emerging …

New Crypto Bill:

GS Paper  3: Topics Covered: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights.   New Crypto Bill Context: The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 will introduce in the winter session of Parliament.   Key Provisions: It seeks to regulate cryptocurrency and ostensibly …

Insights into Editorial: RBI is right, need to move with caution on cryptocurrencies

    Context: Reserve Bank of India (RBI) Governor is absolutely right in saying we need some more debate and discussion before cryptocurrencies are adopted in India. Prime Minister warned that bitcoin presents a risk to younger generations, sounding a hawkish tone as his government prepares to introduce legislation to regulate cryptocurrencies. PM Modi framed …

Bill on cryptocurrency

GS Paper 3 Topics Covered: Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights.   Bill on cryptocurrency Context: The proposed legislation on cryptocurrencies has been tabled before the Cabinet and awaiting its approval.   Present status: An inter-ministerial panel on cryptocurrency has recommended that all …

Insights into editorial: Cryptocurrencies and the Regulators Dilemma

  Cryptocurrencies and the Regulators Dilemma   Summary: Widely seen as a disruption for the traditional banking and financial institutions, cryptocurrencies have gained significant traction over the last half a decade, at the same time creating a regulatory nightmare for banking regulators across the globe. At present, there are around 969 cryptocurrencies in existence across …