Global LinkUP: Cryptocurrencies are having a hard time around the world

by | Apr 13, 2018

The Global Linkup is a summary roundup of important tech news curated from around the world. On this week’s edition of the global news round up, the Cambridge Analytica and Facebook data breach saga continues while cryptocurrencies are having bouts with different countries of the world.

Read on.

On Cambridge Analytica and Facebook

On Sunday, in a New York Post, original whistle blower Christopher Wylie says the the number of compromised profiles may be more than the 87 million that Facebook eventually owned up to and Cambridge Analytica is contesting.

And so the saga continues.

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According to POLITICO, Facebook had earlier admitted that data from over 2.7 people in the European Union were compromised. And late Friday, Bloomberg said Sheryl Sandberg will be travelling – or at least making phone calls – to Europe to respond to these concerns.

On Tuesday, Mark Zuckerberg finally appeared before the United States Congress to answer questions on the data breach, and a CNN reports says he was unscathed after the 5-hour session with 44 senators.

After controversially retracting Mark Zuckerberg’s messages from the inbox of some recipients, according to TechCrunch, Facebook now plans to roll out this feature for everyone.

What’s cryptocurrenting?

This week, it’s countries versus cryptocurrencies on different fronts.

Over last weekend, Business Insider reported that the Pakistani and Indian government has banned banks from dealing in crypto in a bid to make it illegitimate.

According to Fortune, The Reserve Bank of India said all entities under its regulation would have three months to cut ties with any service dealing in cryptocurrency.

This is coming at a time when Quartz India is reporting a wave of criminality and subsequent extortion of Bitcoin from victims.

Yesterday, Investopedia reported on how major Canadian banks are banning their customers from buying digital currencies. To do this, the banks are blocking their customers from using debit and credit cards for the purchase of digital assets.

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Meanwhile, the People’s Bank of China recently appointed a new governor, Yi Gang, and there were speculations he might relax China’s stance on cryptocurrencies. Finance Magnates say he is not budging.

Europe is not going too hard on crypto.

In Poland, all authorities want is for crypto traders to pay their taxes. Polish authorities are not in total support of cryptocurrencies, and Eth News says this tax is a big deal by itself.

Still on Europe, Reuters says Norway and Sweden are now a new favourite destination for cryptocurrency miners because of cheap energy.

Victor Ekwealor
Victor Ekwealor

tech. media. startups. africa. vc | Twitter: @victor_ekwealor


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