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With reference to the Global Consortium for Digital Currency Governance, consider the following statements:
It is the first global consortium focused on designing a framework for the governance of digital currencies.
  • It is an initiative of the World Economic Forum
    Which of the statements given above is/are correct?
    • a)
      1 only
    • b)
      2 only
    • c)
      Both 1 and 2
    • d)
      Neither 1 nor 2
    Correct answer is option 'C'. Can you explain this answer?
    Verified Answer
    With reference to the Global Consortium for Digital Currency Governan...
    • The World Economic Forum recently announced the first global consortium focused on designing a framework for the governance of digital currencies, including stable coins. The Global Consortium for Digital Currency Governance will aim to increase access to the financial system through innovative policy solutions that are inclusive and interoperable.
    • This is the first initiative to bring together leading companies, financial institutions, government representatives, technical experts, academics, international organizations, NGOs and members of the Forum's communities on a global level. • This consortium will focus on solutions for a fragmented regulatory system. Efficiency, speed, inter -operability, inclusivity, and transparency will be at the heart of this initiative. It will call for innovative regulatory approaches to achieve these goals and build trust. A set of guiding principles will be codesigned to support public and private actors exploring the opportunities that digital currencies present.
    • This initiative builds on work done by the World Economic Forum over the past year, convening a global community of central banks to co-design a policy framework for the adoption of digital currencies called the Central Bank Digital Currency Toolkit.
    • Hence both the statements are correct.
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    With reference to the Global Consortium for Digital Currency Governance, consider the following statements: It is the first global consortium focused on designing a framework for the governance of digital currencies. It is an initiative of the World Economic Forum Which of the statements given above is/are correct?a) 1 onlyb) 2 onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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    With reference to the Global Consortium for Digital Currency Governance, consider the following statements: It is the first global consortium focused on designing a framework for the governance of digital currencies. It is an initiative of the World Economic Forum Which of the statements given above is/are correct?a) 1 onlyb) 2 onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Global Consortium for Digital Currency Governance, consider the following statements: It is the first global consortium focused on designing a framework for the governance of digital currencies. It is an initiative of the World Economic Forum Which of the statements given above is/are correct?a) 1 onlyb) 2 onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Global Consortium for Digital Currency Governance, consider the following statements: It is the first global consortium focused on designing a framework for the governance of digital currencies. It is an initiative of the World Economic Forum Which of the statements given above is/are correct?a) 1 onlyb) 2 onlyc) Both 1 and 2d) Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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