Sierra Leone delays full switchover to new currency
Sierra Leone is to delay the phaseout of its old currency until next spring, the central bank said.
Sep 16, 2022
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Business
News tagged with currency
Business
Crypto firms say US sanctions limit use of privacy software
The Treasury Department is facing pushback from the cryptocurrency industry over sanctions imposed on a firm accused of helping to launder billions of dollars—with some funds going to North Korean hackers.
Aug 26, 2022
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Business
US issues sanctions on a 2nd virtual currency mixing firm
The Treasury Department has imposed sanctions on virtual currency mixer Tornado Cash, which has allegedly helped to launder more than $7 billion worth of virtual currency since its creation in 2019.
Aug 8, 2022
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Business
Central African Republic dives into crypto with the Sango
Undeterred by the turmoil hitting crypto, the Central African Republic (CAR)—one of the poorest and most troubled countries in the world—has unveiled plans to launch its own digital currency.
Jul 4, 2022
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Business
Central Bank Digital Currencies will create evolution, not revolution, in international payments systems
Central Bank Digital Currencies (CBDCs) may offer a route towards improving and simplifying the complex ecosystem of international and domestic payments but are not likely to replace established conventional payments systems ...
Jun 9, 2022
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Business
Bank of Jamaica to launch nationwide digital currency
The Bank of Jamaica is preparing to issue a nationwide digital currency for the first time in its history following recent approval from legislators.
Jun 7, 2022
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Business
Amid crypto turmoil, senators propose sweeping oversight
Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures.
Jun 7, 2022
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Business
Central African Republic adopts bitcoin as legal currency (Update)
The Central African Republic has adopted bitcoin as legal tender, the president's office said Wednesday, becoming the second country in the world to do so after El Salvador.
Apr 27, 2022
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Business
US Treasury secretary calls for improved cryptocurrency rules
US Treasury Secretary Janet Yellen on Thursday called for increased oversight of cryptocurrencies, after President Joe Biden last month green-lit work on creating a digital American dollar.
Apr 7, 2022
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Business
Crypto, blockchain and NFTs: Professor explains the fast-moving digital assets space
U.S. President Joe Biden recently signed an executive order that calls on several agencies to work towards a regulatory framework for certain types of digital assets, potentially laying the groundwork for a U.S. central bank ...
Apr 6, 2022
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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
