Crypto Ban Unlikely in India, but Govt to Discourage Trade

According to reports, the Indian government has indicated that it plans to regulate cryptocurrencies to prevent investors from holding them without any restriction. However, the Centre does not want to ban crypto coins entirely, as it had planned earlier. The Centre is likely to allow only those cryptocurrencies that have been pre-approved by the authorities to be listed and traded on exchanges.

Bitcoin, Ether, Dogecoin, other cryptos crash

Bitcoin price continued its slide as it slipped below $57,000 for the first time since October, in a retreat from record highs. The world’s largest and most popular cryptocurrency was trading over 6% lower at $56,132. Bitcoin recently hit a record high of around $69,000 and is up over 93% this year (year-to-date or YTD) so far. Ether also declined more than 4% to $4,075.

Bitrefill Launches Payment Service for Salvadorans to Make Payments Using Bitcoin

Bitrefill, the startup that offers Bitcoin-funded prepaid cards for different services worldwide, launched a new bill-payment service that allows Salvadorans to pay for multiple basic needs using Bitcoin. The new platform will allow Salvadorians to pay for 150 different services using Bitcoin, including internet, water, insurance, loans, taxes, mortgage, social security services, etc. Bitcoin has been a legal tender in El Salvador since September 7, 2021.

Crypto-Powered Privacy Solution Nym Raises $13 million

European privacy startup Nym Technologies has successfully closed its third investment round. The $13 million financing round was led by US-based Andreessen Horowitz (a16z Crypto) and included participation from leading venture capital firms across the globe. Founded in 2018, Switzerland-based Nym is developing the infrastructure to prevent data breaches by protecting metadata.

Australian Baseball Club Perth Heat To Pay Athletes In Bitcoin

Australian Baseball League team, Perth Heat, has proposed to pay its player and staff in Bitcoin. The players will be allowed to choose whether to receive their payments in Bitcoin or in fiat currency, which has been the conventional method. Pert Heat says it will become the first professional sports club to start paying players in Bitcoin. The club had also appointed a chief Bitcoin officer to oversee the plans.

RBI May Launch Digital Currency Pilot Next Year: Report

The Reserve Bank of India’s digital currency may see its pilot launch in the first quarter of the next fiscal year (Q1 FY23), a senior central bank official said at the State Bank of India’s Banking and Economic Conclave as reported by Business Standard. Central bank digital currencies (CBDCs) are basically the digital version of fiat currencies (for India that would be its domestic currency rupee).