Consider the following statements with respect to ‘Cryptocurrency’.

October 5, 2021

UPSC Daily Current Affairs Quiz 5 October 2021

Consider the following statements with respect to ‘Cryptocurrency’.

1. The total market value of all the crypto assets surpassed 2 trillion dollars as of September 2021, a 10-fold increase since early 2019.

2. Anonymity of crypto assets also creates data gapes for regulators and can open unwanted doors for money laundering, as well as terrorist financing.

Which of the statement/s given above is/are correct?

A. 1 Only

B. 2 Only

C. Both 1 & 2

D. None

Answer: 2 Only

Explanation:

The total market value of all the crypto assets surpassed 2 trillion dollars as of September, 2021, a 10-fold increase since early 2020. International Monetary Fund(IMF) has warned the adoption of Crypto Currency, saying it can threaten financial stability of emerging market.

UPSC Daily Current Affairs Quiz Test 5 October 2021 Click Here