A survey conducted by me Prism found that 64% of consumers believe that their data is more valuable than Bitcoin. The FATF recently released a new update that aimed at decentralized virtual assets and virtual asset service providers.
A firm that helps consumers control their data conducted a consultation to know people’s perception of the value of Bitcoin (BTC). The respondents had to compare the pioneering cryptocurrency to their personal data.
Bitcoin is trading at around USD 62,247 and has accumulated a 0.6% profit in the last week. Its daily trading volume is above USD 32.25 billion, and its market capitalization is approximately USD 1.15 trillion, according to CoinGeko.
The survey, conducted last September, found that 64% of consumers believe that their data is more valuable than Bitcoin. However, they underestimate its value in thousands of dollars by not knowing the scope of the use of their personal information.
The firm, called mePrism, stated that their empirical data suggests that the average user data is worth USD 7,500 or much more. Approximately 2,200 people can buy personal data, which the people surveyed did not consider.
Intelligence firm against cyberthreats IntSights conducted another study suggesting that the price of personal data on the dark web varies greatly. Some respondents said it could go from USD 0 to USD 5, from USD 20 to USD 100, and even above USD 1,000. However, some data and services can be worth up to six figures.
The Government of El Salvador Announces the Purchase of 420 Bitcoins
The president of El Salvador, Nayib Bukele, recently said that his government bought Bitcoin during the market crash. He confirmed the purchase of 420 more bitcoins, adding them to the holdings of the Central American country. In September, once the Bitcoin Law entered into force, BTC became legal tender in the nation.
The Salvadoran head of state noted it had been a long wait but was worth it as they could buy the dip. Soon after, he informed that they were already making a profit on the coins they had just bought. Meanwhile, the value of the country’s Bitcoin grew by around 0.4%, or USD 100,000.
Ether Reaches a New All-Time High after a Burning of Tokens
The price of Ether (ETH) hit another all-time high after the Ethereum smart contract blockchain burned more tokens than it issued in 24 hours. That was due in part thanks to the vigorous action on the Shiba INU (SHIB) network.
The value of the second-largest cryptocurrency by market capitalization rose to USD 4,402, thus exceeding the all-time high of USD 4,379 it reached in May. ETH is trading at around USD 4,364 and accumulated a 7.7% profit in the last week, according to CoinGecko.
The FATF Includes DeFi in its Guidance to Cryptocurrency Service Providers
The Financial Action Task Force (FATF) recently released a new update to its 2019 guidance on a risk-based approach. It aimed at virtual assets and virtual asset service providers, especially in the decentralized finance sector.
The new guidance addresses issues identified in the FATF 12-month review of the revised standards on virtual assets and VASPs requiring further clarification. It also reflects input from a public consultation conducted between March and April this year.
Pelle Brændgaard, CEO of cryptocurrency compliance startup Notabene, talked about the new guidance. He said that it seeks to determine VASPs in the DeFi ecosystem based on the income of its participants.
By Willmen Blanco