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India to explore offline solutions to aid CBDC adoption

Shaktikanta Das the Governor of the Reserve Bank of India has stated that the central bank will explore offline solutions to boost the adoption of its central bank digital currency (CBDC), the digital rupee, in remote areas of the country with limited internet access.

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Shaktikanta Das the Governor of the Reserve Bank of India has stated that the central bank will explore offline solutions to boost the adoption of its central bank digital currency (CBDC), the digital rupee, in remote areas of the country with limited internet access.

Several offline solutions, including proximity and non-proximity-based solutions, will be evaluated in hilly, rural and urban environments to achieve this aim, according to the Press Trust of India.

On the programmability front, Das said the CBDC system currently enables person-to-person (P2P) and person-to-merchant (P2M) transactions using digital rupee wallets provided by pilot banks.

The plans for launching offline capabilities were first proposed in March 2023 when Ajay Kumar Choudhary, the RBI’s executive director, said the central bank is looking to test CBDC’s potential for cross-border transactions and linkage with legacy systems in other countries.

While the digital rupee is being tested for offline capabilities, other existing payment platforms — especially the popular Unified Payments Interface (UPI) — already offer offline possibilities. Siddharth Sogani, the CEO of the Indian blockchain analytic firm Crebaco, stated that the primary purpose of CBDCs is to increase money monitoring and eliminate cash from the system.

The RBI launched a pilot of its retail CBDC in December 2022 and achieved the target of having one million daily transactions in December 2023.

Both developing and advanced economies mostly share the motivation behind their CBDC projects: financial stability and cross-border payment efficiency. However, developing countries are also hoping to increase financial inclusion through CBDCs.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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