Could Government Backed Cryptocurrency at Breaking News

Best Breaking News update and References website. Search anything about news and Ideas in this website.

Could Government Backed Cryptocurrency, They had been around for a while, but it was not until 2017 that cryptocurrencies really gained global attention as the price of a bitcoin surged. Nicolás maduro’s government claims that the crypto is backed by venezuela’s oil, gold and diamond reserves, and that each petro is pegged to the price of one barrel of venezuelan oil. If that were the case, that would make china’s cryptocurrency the first digital currency backed by a truly massive economy, and with the right incentives, it could even be a rival to the dollar in international markets.

France, Germany blast Facebook's Libra, back public
France, Germany blast Facebook's Libra, back public from uk.movies.yahoo.com

The biden administration is throwing its support behind further study and development of what would be known as a u.s. Out three other ways crypto could be regulated. That being said, petro is the first cryptocurrency that is backed by an asset and a government.

France, Germany blast Facebook's Libra, back public from Nice Breaking News

Many other countries have also placed strict regulations and restrictions on the use of cryptocurrency, including india. Apart from the 170 countries which are yet to release any official regulations on cryptocurrencies, the use of cryptocurrencies is a controversial topic in most countries of the world. Monday, the fund, called the xiong’an global blockchain innovation fund, was announced in hangzhou, china. Digital yuan could be next. Reports have it that the technology behind the cryptocurrency is already prepared and that it could launch as soon as november 11th.