Bank of England Governor Says Cryptocurrency Transactions Shouldn't Be Anonymous

Bank of England Governor Mark Carney said cryptocurrency transactions are often used for illegal actions  
01 February 2018   840

According to the Bank of England Governor Mark Carney cryptocurrency is usually used for illegal actions. In his opinion, the use of different cryptocurrencies is mostly illegal, for example, it is often used in money laundering schemes. He believes that it is very important to introduce more transparency into cryptocurrency transactions.

Mark Carney pointed out that he spoke about the concern of international regulators about the use of cryptocurrencies. He expects this topic to be on the agenda at upcoming G20 meetings.

As Bank of England Governor states there are a lot of opportunities for cryptocurrency, for example, it can be integrated into the formal financial system. That is why it is very important to face some decisions about what we should expect from cryptocurrencies in future.

Although Carney did not mention Bank of England’s plans, The Bank of England has been researching cryptocurrencies in order to create its own digital currency. The new currency would be linked to the value of sterling and would allow people to keep their money in the central bank itself, cutting out the need for a retail bank.

In order to increase the country’s GDP, the central bank would have to issue enough digital currency units to equal 30 percent of the current GDP against government bonds. This will allow increasing GDP by about 3%.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   90

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.