More Than 50% of Indians Surveyed Don’t Want Crypto Legalized
More than half of the people surveyed in India are against legalizing cryptocurrencies, according to an opinion poll published on Wednesday. The report comes on the back of the Indian government proposing a law to regulate the use of crypto and to create an official digital coin. The survey showed 54% don’t want the government to legalize cryptocurrencies but instead to tax them like a digital asset held in a foreign country, pollster LocalCircles said. These findings were based on a survey of 56,000 people in the last 15 days.
Bitcoin stages recovery, surges 5%
Bitcoin, the world’s largest cryptocurrency, extended the recovery it had staged after crashing over 25% on Wednesday morning. It was trading over 5% higher at Rs 42.96 lakh today. Bitcoin prices had crashed on Wednesday after a government bulletin said the cryptocurrency bill seeks to ban all private cryptocurrencies in India.
Ripple Partners With Republic Of Palau To Develop National Digital Currency
Digital payment network Ripple has partnered with the Republic of Palau to develop its own digital currency. The payment network is still on a mission to dominate the global payments industry. The partnership with Ripple will focus on developing a USD-backed digital currency, more like a stablecoin rather than a central bank digital currency (CBDC). This currency would help facilitate cross-border payments for the nation.
Pokemon Go maker Niantic has a new game that lets players earn Bitcoin rewards
Niantic, the developer behind Pokemon Go, has teamed up with payments company Fold to create an augmented reality (AR) game where players can earn Bitcoins. This real-world metaverse has Niantic’s real-world mapping tech coming together with Fold’s app capabilities. Players can explore the real world around them and win cryptocurrency rewards. Niantic’s AR tech has players looking for rare creatures on Pokemon Go and battling other players.
Adidas confirms first crypto partnership with Coinbase and The Sandbox
Adidas has recently announced a new partnership with Coinbase and Metaverse gaming project The Sandbox. The sportswear giant has revealed little to no details so far, but it appears that the firm has taken a major step forward into the cryptocurrency and blockchain industry. Speculation has emerged that Adidas could be partnering to enable crypto payments for the sportswear firm, bringing a potential digital asset payment integration to the Adidas ecosystem.
Only a handful of cryptocurrencies that exist today likely to survive: Raghuram Rajan
Out of the 6,000-odd cryptocurrencies currently in existence, only a few are likely to survive, according to the former RBI Governor Raghuram Rajan. “If things have value only because they will be pricier down the line, that’s a bubble,” Rajan said. He added that the issue was that most cryptocurrencies did not have permanent value. Additionally, some of them would survive to facilitate payments, especially cross-border payments.