Security

150 people arrested in US-Europe darknet drug probe

Law enforcement officials in the U.S. and Europe have arrested 150 people and seized more than $31 million in an international drug trafficking investigation stemming from sales on the darknet, the Justice Department said ...

Business

Bitcoin tops $60,000 on US fund approval hopes

Bitcoin breached the $60,000 mark for the first time since April on growing optimism that American regulators will greenlight the first US futures exchange-traded fund for the cryptocurrency.

Security

S Korea seeks Interpol notice for two cyber gang leaders

South Korea said Friday it's asked Interpol for help to arrest two foreigners it alleges played a leading role in cyberattacks and large-scale extortion that targeted South Korean and U.S. companies.

Business

ECB inches closer to 'digital euro'

The European Central Bank inched closer to a "digital euro" on Wednesday with the formal launch of a pilot project, but questions remain about potential pitfalls and benefits for eurozone citizens.

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Currency

In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of bank deposits (sometimes called deposit money), ownership of which can be transferred by means of cheques, debit cards, or other forms of money transfer. Deposit money and currency are money in the sense that both are acceptable as a means of payment.

Money in the form of currency has predominated in human civilizations from about 10,000 BCE on. Usually (gold or silver) coins of intrinsic value (commodity money) have been the norm. However, nearly all contemporary money systems are based on fiat money – modern currency has value only by government order (fiat). Usually, the government declares the fiat currency (typically notes and coins issued by the central bank) to be legal tender, making it unlawful to not accept the fiat currency as a means of repayment for all debts, public and private.

This text uses material from Wikipedia, licensed under CC BY-SA