News of the week

Kaspersky on Bitcoin Government Control

Cybersecurity expert Eugene Kaspersky has said in an interview with Arabian Business that cryptocurrencies can be a success, but only if governments stop trying to control them or alternatively when all countries unite under a single global government. But he does not believe Bitcoin will replace the existing financial system despite the currency’s “great” qualities.

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Canada Asking Detailed Questions to Cryptocurrency Owners

The Canada Revenue Agency has sent an extremely detailed questionnaire to citizens it believes to be in possession of cryptocurrency. Those suspected of failing to disclose the full extent of their holdings have been asked whether they use a cryptocurrency mixing service, and if so, why. They’ve also been asked to provide the full tracing history of any transactions that have passed through a bitcoin tumbler. While the tax agency’s reasons for quizzing the use of mixing services is obvious, given that they can be used for money laundering and tax evasion, these tools are not illegal and are popular with privacy-conscious bitcoiners.

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Only 3% Have Bought Cryptocurrency in UK

The U.K.’s Financial Conduct Authority published two reports on consumer attitudes and awareness to crypto assets in the country. The research includes qualitative interviews and a national survey of 2,132 British consumers. From this, the FCA estimates that only 3 percent of Brits have ever bought crypto assets.

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Bitcoin Transactions Hit Highest Level in a Year

The SFOX Crypto Volatility Report: February 2019 was released today, and in this report, analysts try to gauge the health of crypto markets by looking at the following three metrics: price momentum, market sentiment, and the continued advancement of the sector. The report ultimately concluded a bullish outlook in general for the cryptocurrency sector.

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Twitter CEO Jack Dorsey Spends $10,000 a Week on Bitcoin

Twitter and Square CEO Jack Dorsey alluded to spending $10,000 per week on Bitcoin on the podcast Tales from the Crypt. Dorsey spoke on how he came to experiment with Bitcoin and what parallels he sees between Bitcoin and Twitter. Dorsey did not specified the exact amount he spends, but the maximum weekly buy limit for Bitcoin on mobile payment company Square’s CashApp is $10,000.

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Russia Considers Requiring Identification from Crypto Users

Russia’s Duma Committee on Financial Markets is considering the adoption of a mandatory identification process for users of digital assets. The committee chairman, Anatoly Aksakov, revealed that the authority is planning to amend Russia’s crypto regulation, aiming to establish a special identification process for users of digital financial assets, including cryptocurrencies. According to the planned amendment, dealing with crypto by unidentified users will become illegal.

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