• 37% of survey respondents want Bitcoin legalized in their home countries

  • 37% of respondents wished BTC or other crypto assets to be accepted as an official form of payment in their countries.

    According to a recent research done by The Economist, 37% of participants want their governments to designate bitcoin or other cryptocurrencies as legal cash for internal transactions. Central bank digital currencies (CBDCs) are also popular, with 37% agreeing if their governments offer such a financial product.

    Taking El Salvador’s Lead?

    The popular British newspaper The Economist polled 3,000 people in developed economies (the United States, the United Kingdom, France, South Korea, Australia, and Singapore) and developing economies (Brazil, Turkey, Vietnam, South Africa, and the Philippines) to determine their current stance on the crypto industry.

    Approximately 37% of respondents stated they will back their government if it decides to make bitcoin or another digital asset an official payment mechanism. 43 percent were undecided, while only 18 percent stated they would oppose such a move.

    When it came to launching a CBDC, the findings were similar. 37 percent say the authorities should release the product, while 19 percent believe it is a mistake.

    The survey also addressed non-fungible tokens. Over 60% of participants are considering buying, holding, or selling NFTs, while only 7% are against.

    Respondents were also overwhelmingly positive about decentralized finance (DeFi), with 34% intending to use such applications for personal or professional financial transactions. In comparison, 17% said they had no plans to connect with it.

    It is safe to state that the COVID-19 epidemic altered payment network trends, with many people shifting from cash to digital payments. 18% of research participants expect their country to go cashless over the next year or two, while 13% use cryptocurrencies as a form of payment.

    According to John Mitchell, CEO and Co-Founder of Episode Six, the future payment network will be surrounded by new instruments, with digital assets perhaps playing a role.

    25% of Americans want BTC to be legalized.

    Shortly after El Salvador declared bitcoin legal tender, numerous other countries were believed to be considering the same action. According to a YouGov poll, nearly 30% of US people are pleased that BTC has the same status as cash in their country.

    Surprisingly, Americans in the West were more supportive of such a proposed law, while those in the Midwest were the most opposed.

    The majority of females and those over 55 were the toughest opponents, while men and those aged 25 to 34 were generally in support of bitcoin being an official form of payment.

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