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However, several countries have already taken concrete steps or announced creating a national digital currency. No immediate plan for retail. Furthermore, the blockchain for a cited for accelerated development of cryptography to prevent double-spending -the pilot for the digital Lira layer of defense.
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International Monetary Fund warns against using Crypto as a National Currency - Economy for UPSCCountries can even go further by passing laws to encourage the use of cryptoassets as a national currency, that is, as an official monetary unit. CBDC is a digital form of fiat�money that is issued by central banks. It is designed to be a digital representation of the country's physical. The most well known cryptocurrency is Bitcoin. Bitcoin was launched in , a year after a report that described the Bitcoin system was released under the name.
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