1) Which of the following statements best describes cryptocurrency?
Cryptocurrency quiz

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Ekaterina Bik
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a) A physical currency that can be used to buy goods and services
b) A digital currency that uses encryption techniques to secure and verify transactions
c) A type of stock that can be traded on the stock market
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2) Which of the following is a key advantage of using cryptocurrency in international banking
transactions?
a) Lower transaction fees
b) Faster transaction processing times
c) Both A and B
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3) What is the role of blockchain technology in the use of cryptocurrency in international
banking?
a) It enables the transfer of cryptocurrency
b) It ensures the security and transparency of cryptocurrency transactions
c) Both A and B
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4) Which of the following is a key disadvantage of using cryptocurrency in international banking
transactions?
a) High volatility and unpredictable value
b) Lack of regulation and legal protection
c) Both A and B
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5) What is the legal status of cryptocurrency in most countries?
a) Fully legal and regulated
b) Illegal and prohibited
c) Falls in a legal grey area in many countries
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6) Which of the following is a key legal challenge involved in the use of cryptocurrency in
international banking?
a) Ensuring compliance with anti-money laundering and counter-terrorism financing laws
c) Both A and B
b) Protecting consumer rights and preventing fraud in cryptocurrency transactions
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7) What is the role of international banking law in regulating the use of cryptocurrency in cross-
border transactions?
a) It provides a clear legal framework for the use of cryptocurrency
c) It is still being developed and debated by legal experts and policymakers
b) It prohibits the use of cryptocurrency in cross-border transactions
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