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Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment.

Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.

The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Bank money, whose value exists on the books of financial institutions and can be converted into physical notes or used for cashless payment, forms by far the largest part of broad money in developed countries. (Full article...)

Dynamic intelligent currency encryption (DICE) is a technological concept designed to enhance the security of paper currency. The system tracks and monitors banknotes in circulation using identifiable characteristics, allowing for the remote devaluation of banknotes involved in fraudulent activities or criminal transactions. Developed in 2014 by the British-Austrian technology company EDAQS, DICE involves the use of Machine Readable Codes (MRC) or radio-frequency identification (RFID) tags embedded in banknotes. These banknotes are then registered to a centralized system to increase security and reduce the risk of forgery tags. These banknotes are then registered to a centralized system, purportedly rendering them secure and resistant to forgery.

The primary objective of DICE is to engage the banking and retail sectors in a system where cash circulation is passively monitored and controlled. Additionally, DICE aims to serve as an alternative to the complete elimination of physical currency, offering benefits similar to a cashless economy, such as reducing cash-related crimes, without entirely removing cash from circulation. (Full article...)

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The króna (plural: krónur; sign: kr) is the currency of the Faroe Islands. It is issued by Danmarks Nationalbank, the central bank of Denmark. It is not a separate currency, but is rather a local issue of banknotes denominated in the Danish krone, although Danish-issued coins are still used. Consequently, it does not have an ISO 4217 currency code and instead shares that of the Danish krone, DKK. This means that in the Faroe Islands, credit cards are charged in Danish kroner. The króna is subdivided into 100 oyru(r). (Full article...)

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In the news

26 June 2025 – Anti–money laundering § United States, War on drugs § Mexico
The Comisión Nacional Bancaria y de Valores temporarily takes over the management of CIBanco, Intercam Banco, and Vector Casa de Bolsa following allegations of money laundering for drug cartels. (El País)
25 June 2025 – Anti–money laundering § United States, War on drugs § Mexico
Mexican banks CIBanco, Intercam Banco, and Vector Casa de Bolsa—the latter owned by Alfonso Romo, former Chief of Staff to President Andrés Manuel López Obrador—are sanctioned by the United States government over alleged money laundering for drug cartels. Mexican president Claudia Sheinbaum requests that the U.S. government provide evidence. (MSN) (Al Jazeera) (Forbes)

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