THE EVOLUTION AND IMPACT OF CRYPTOCURRENCY AND DIGITAL CURRENCIES ON GLOBAL FINANCE

The emergence of cryptocurrency and digital currencies has fundamentally transformed the landscape of global finance. Initially, cryptocurrencies like Bitcoin challenged traditional banking systems by introducing decentralized, peer-to-peer financial transactions. This research paper explores the technological, economic, and regulatory implications of cryptocurrency and digital currencies. It examines the development of blockchain technology, the diverse types of digital currencies, their economic benefits, challenges, and the global regulatory environment. Furthermore, the paper delves into the rise of Central Bank Digital Currencies (CBDCs), the future of cryptocurrencies, and the evolving role of digital currencies in global financial systems.