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Consider the following statements regarding Cryptocurrencies.
1. Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate their units' generation.
2. They operate within the system of central banks in the majority of countries.
Which of the above statements is/are incorrect?
  • a)
    1 only 
  • b)
    2 only 
  • c)
    Both 1 and 2 
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements regarding Cryptocurrencies.1. Crypto...
Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate their units' generation and verify the transfer of funds, operating independently of a central bank.
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Consider the following statements regarding Cryptocurrencies.1. Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate their units generation.2. They operate within the system of central banks in the majority of countries.Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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