{"id":11408,"date":"2021-11-30T11:48:24","date_gmt":"2021-11-30T06:18:24","guid":{"rendered":"https:\/\/www.practicemock.com\/blog\/?p=11408"},"modified":"2021-11-30T11:48:24","modified_gmt":"2021-11-30T06:18:24","slug":"the-hindu-editorial-vocabulary-nov-30-2021-day-187","status":"publish","type":"post","link":"https:\/\/www.practicemock.com\/blog\/the-hindu-editorial-vocabulary-nov-30-2021-day-187\/","title":{"rendered":"The Hindu Editorial Vocabulary\u2013 Nov 30, 2021; Day 187"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Difficult Word\/ Phrase<\/td><td>Contextual Sense<\/td><\/tr><tr><td>Proscribe&nbsp;<\/td><td>Command against<\/td><\/tr><tr><td>Ostensible&nbsp;<\/td><td>Appearing as such but not necessarily so<\/td><\/tr><tr><td>Disquiet&nbsp;<\/td><td>A feeling of mild anxiety about possible developments<\/td><\/tr><tr><td>Strike down&nbsp;<\/td><td>Declare null and void; make ineffective<\/td><\/tr><tr><td>Peg&nbsp;<\/td><td>Stabilize (the price of a commodity or an exchange rate) by legislation or market operations<\/td><\/tr><tr><td>Legal tender&nbsp;<\/td><td>Something that can be used as an official medium of payment<\/td><\/tr><tr><td>Accentuate&nbsp;<\/td><td>draw attention to (something)<\/td><\/tr><tr><td>Blockchain&nbsp;<\/td><td>A distributed digital ledger that maintains a continuously-growing list of data blocks, each containing batches of transactions, that are secure from tampering and revision (e.g. as used for financial transactions in cryptocurrencies like bitcoin)<\/td><\/tr><tr><td>Run afoul&nbsp;<\/td><td>Go against, as of rules and laws<\/td><\/tr><tr><td>Eschew&nbsp;<\/td><td>Avoid and stay away from deliberately<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.practicemock.com\/exams\/banking\/ibps-po\/?refcode=3158&amp;utm_source=Blog_The+Hindu+Editorial+Vocabulary%E2%80%93+Nov+30%2C+2021%3B+Day+187_301121_IBPSPM&amp;utm_medium=Link&amp;utm_campaign=IBPSPM\"><img decoding=\"async\" src=\"https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2021\/09\/IBPS_PO_210921-1024x128.jpg\" alt=\"IBPS_PO_Mock Test\" class=\"wp-image-8488\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Regulation, not ban: on cryptocurrencies<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">India should regulate trading of virtual currencies through monitored exchanges<\/h3>\n\n\n\n<p>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, the Government is set to introduce legislation that would, if passed, officially <strong>proscribe (Command against) <\/strong>such currencies. Its concerns appear to be the risks associated with cryptocurrencies, including their potential use for money-laundering and financing of illegal activities. The risks investors and consumers face in dealing with these so-called currencies, given that they are neither \u2018a store of value nor are they a medium of exchange\u2019, and the <strong>ostensible (Appearing as such but not necessarily so) <\/strong>threat they pose to financial stability, are also key factors. Prime Minister Narendra Modi had in a video address to the Sydney Dialogue earlier this month said: \u201cIt is important that all democratic nations work together on this [cryptocurrency] and ensure it does not end up in wrong hands.\u201d The Centre and the RBI\u2019s deep <strong>disquiet (A feeling of mild anxiety about possible developments) <\/strong>with cryptocurrencies notwithstanding, there has been an exponential jump in investment in virtual currencies, especially after the Supreme Court last year <strong>struck down (Declare null and void; make ineffective)<\/strong> an RBI notification barring financial entities from facilitating customer transactions related to virtual currencies. Industry estimates now <strong>peg (Stabilize (the price of a commodity or an exchange rate) by legislation or market operations) <\/strong>cryptocurrency holdings in India at about \u20b940,000 crore, held by about 15 million investors, and advertising trends show an upsurge in ads promoting brands associated with investment in virtual currencies.<\/p>\n\n\n\n<p>That the ground has shifted since an Inter-Ministerial Committee set up to study the issues related to virtual currencies first proposed the ban in 2019 is beyond doubt. From the emphatic assertion in that panel\u2019s report that \u201cno country across the world treats virtual currencies as <strong>legal tender (Something that can be used as an official medium of payment)<\/strong>\u201d to a situation where earlier this year El Salvador \u2014 admittedly a small and heavily indebted nation \u2014 officially declared \u2018bitcoin\u2019 as legal tender, much has changed in the adoption of private virtual currencies worldwide. The pandemic has <strong>accentuated (draw attention to (something)) <\/strong>the global embrace of all things digital and investment in the technologies enabling cryptocurrencies including <strong>blockchain (A distributed digital ledger that maintains a continuously-growing list of data blocks, each containing batches of transactions, that are secure from tampering and revision (e.g. as used for financial transactions in cryptocurrencies like bitcoin))<\/strong>, appear to be no different. Canada, Japan and Thailand permit the use of virtual currencies as a payment method, with some jurisdictions regulating them as a digital asset, and others as a commodity. Canada and the U.S. closely monitor virtual currency activity to ensure they do not <strong>run afoul (Go against, as of rules and laws)<\/strong> of laws on financial crimes, with the former also earning tax revenue on transactions. All things given, India should <strong>eschew (Avoid and stay away from deliberately) <\/strong>the temptation to join China in proscribing virtual currencies and instead aim to tightly regulate their trading through monitored exchanges and earn revenue. Simultaneously, it should expedite the RBI\u2019s pilot of the Central Bank Digital Currency so as to offer an alternative to cryptocurrencies.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.practicemock.com\/exams\/banking\/ibps-po\/?refcode=3158&amp;utm_source=Blog_The+Hindu+Editorial+Vocabulary%E2%80%93+Nov+30%2C+2021%3B+Day+187_301121_IBPSPM&amp;utm_medium=Link&amp;utm_campaign=IBPSPM\"><img decoding=\"async\" src=\"https:\/\/www.practicemock.com\/blog\/wp-content\/uploads\/2021\/09\/IBPS_PO_210921-1024x128.jpg\" alt=\"IBPS_PO_Mock Test\" class=\"wp-image-8488\"\/><\/a><\/figure>\n\n\n\n<p>Want to improve your vocabulary further?\u00a0<a href=\"https:\/\/www.practicemock.com\/blog\/vocabulary\/the-hindu-editorial-vocabulary-download-free-pdf\/\">Download the Lists of Word-Meanings of Previous Months here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Improve your word-power with the help of this daily recurring series where we analyze the difficult words published in prominent editorials.<\/p>\n","protected":false},"author":3,"featured_media":11410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[11,25,5,2,49,47],"tags":[69],"class_list":["post-11408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ibps-clerk","category-ibps-po","category-ibps-so","category-rbi-assistant","category-sbi-po","category-vocabulary","tag-editorials-difficult-words-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Hindu Editorial Vocabulary\u2013 Nov 30, 2021; 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