The Hindu Editorial (Regulation, not ban) – Nov 30, 2021

Eight years after the RBI issued its first advisory cautioning holders of virtual currencies about the potential financial and security risks, and two years after drafting a Bill to ban cryptocurrencies,… For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Regulation, not ban) – Nov 30, 2021.

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The Hindu Editorial (Regulation, not ban) – Nov 30, 2021:

regulation (noun) – supervision, overseeing, monitoring, inspection; control, direction, guidance.
cryptocurrency (noun) – a type of digital currency.
regulate (verb) – control, oversee, govern, monitor something (by using rules and regulations).
virtual currency (noun) – virtual money; a type of unregulated digital currency.
virtual (adjective) – performing a task with the use of computer, especially over a network.
advisory (noun) – official communication, press release, bulletin, message, missive, statement, report, notification, announcement.
potential (adjective) – possible, likely, probable.
Bill (noun) – A Bill is a draft statute that becomes law after it is passed by both the Houses of Parliament and assented to by the President. All legislative proposals are brought before Parliament in the forms of Bills.
set to (phrasal verb) – start doing something vigorously.
legislation (noun) – body of laws, acts, rules, regulations, statutes.
pass (verb) – approve, vote for, accept, ratify, enact.
proscribe (verb) – ban, prohibit, forbid (by law).
money laundering (noun) – a secret act of moving illegally acquired funds into legal bank accounts or investments.
so-called (adverb) – supposed, alleged, presumed, ostensible.
given (preposition) – considering, taking into account, bearing in mind.
ostensible (adjective) – apparent, seeming, alleged, purported.
pose (verb) – constitute, present, create, cause (a problem or danger or risk).
financial stability (noun) – financial stability is a condition where the financial system is able to withstand internal or external economic shocks and also able to smoothly conduct its core tasks.
address (noun) – speech, talk, discourse.
Sydney Dialogue (noun) – The Sydney Dialogue is an initiative of the Australian Strategic Policy Institute. It is an annual summit of cyber and critical technologies to discuss the fallout of the digital domain on the law and order situation in the world. The Sydney Dialogue was being held from 17-19 November, 2021.
end up (phrasal verb) – come/appear, find oneself (to a particular course of action in the end).
fall into the wrong hands (phrase) – If something falls/ends up into the wrong hands, a dangerous & unfriendly person begins to control it.
deep (adjective) – intense, profound, serious.
disquiet (noun) – worry, uneasiness, distress, concern.
notwithstanding (conjunction) – although, in spite of the fact that, despite the fact that, even though.
exponential (adjective) – rapid, quick, fast.
jump (noun) – rise, increase, upturn.
strike down (phrasal verb) – abolish, annul, nullify (a law or regulation).
bar (verb) – ban, prohibit, forbid.
entity (noun) – structure, system, establishment, organization.
facilitate (verb) – make easy, make possible, enable, assist, help/aid.
peg (at) (verb) – fix, set, hold, limit (a price, rate, or amount) at a particular level.
holdings (noun) – possessions, belongings, valuables.
upsurge (noun) – sudden increase or rise of something; jump, upturn.
shift one’s ground (phrase) – to change one’s opinion.
inter- (prefix) – between.
Inter-Ministerial Committee (IMC) (noun) – an committee existing between all concerned ministries/departments to meet and deliberate to address particular issue.
set up (phrasal verb) – form, create, institute, establish.
beyond doubt (phrase) – without uncertainty/question/apprehension/second thought.
emphatic (adjective) – clear, definite, firm, decisive.
assertion (noun) – declaration, announcement, assurance, attestation, affirmation.
legal tender (noun) – money, ready money, cash, hard cash; coins or banknotes.
admittedly (adverb) – actually, truly/verily, indeed.
indebted (adjective) – owing money to someone.
Bitcoin (noun) – a type of digital currency (cryptocurrency).
pandemic (noun) – the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.
accentuate (verb) – highlight, underline, focus attention on.
embrace (noun) – welcome, acceptance, approval, adaptation, support.
enable (verb) – allow, permit, facilitate.
blockchain (noun) – a technology by which a global network of computers jointly manage the database that records Bitcoin (a type of digital currency) transactions.
jurisdiction (noun) – territory, region, area.
digital assets (noun) – digital assets are digital representations of values that are not issued or guaranteed by a central bank or public authority and do not have the legal status of currency or money. They are accepted by natural or legal persons as a means of exchange or payment or are used for investment purposes and can be transferred, stored and traded electronically.
fall/run afoul of (phrase) – get into trouble, come into conflict with, go against (by not following rules/standards).
all things considered/given (phrase) – all things considered, considering everything, all in all, on the whole, taking everything into account, taking everything into consideration.
eschew (verb) – reject, avoid, deny, abstain from, refrain from.
temptation (noun) – desire, urge, impulse, inclination.
expedite (verb) – speed up, accelerate, step up, quicken.
pilot (noun) – experimental, trial, test, sample, model (scheme/project).
Central Bank Digital Currency (CBDC) (noun) – In simple terms, a central bank digital currency (CBDC) would be a digital banknote. It could be used by individuals to pay businesses, shops or each other (a “retail CBDC”), or between financial institutions to settle trades in financial markets (a “wholesale CBDC”).
so as to do something (phrase) – in order to do something.