Which of the following makes cryptocurrency different from other money?
It is illegal
It is legal tender
It is not fiat currency
It is not a unit of exchange
The value of cryptocurrency is not decreed by the government and thus it is not fiat currency.
12. Consider the following statements,
1] Demonetization is the act of stripping a currency unit of its status as legal tender.
2] Monetization is the process of converting or establishing something into legal tender. Which of the above statements is/are incorrect?
Q. Consider the following statements:
Which of the statements given above is/are incorrect?