89% of crypto investors worry about inheritance, $180 billion on-chain transactions in Q2 and IRS seeks to trace Lightning Network
89% percent of crypto investors worry about dying with their assets
New Research conducted by The Cremation Institute reveals that 89% of cryptocurrency investors worry about what will happen to their assets after they die. Yet, despite this worry and real threat of losing their hard-earned crypto assets, only 23% of investors have a documented plan.
Despite this worry, many people have no plan in place. This is especially true for younger generations. The findings reveal that a concerning 59% of Generation Z crypto holders have no plan, while 35% of Millennials reported no plan.
Results analysed by The Cremation Institute showed that women are significantly more likely than men to have some sort of cryptocurrency contingency plan if they were to pass away.
More than $180 billion in bitcoin was transacted on-chain in Q2
The value transaction on the bitcoin network saw a small increase between the first and second quarters of 2020.
As shown in the chart below, in the second quarter of 2020, users transacted more than $180 billion in bitcoins. That amounts to an average of $1.98 billion per day.
The data pointed was included in a second-quarter rundown of bitcoin network data compiled by The Block’s Steven Zheng.
IRS seeks info on tracing privacy coins, Lightning network transactions for pilot program
The U.S. Internal Revenue Service (IRS) has put out a call for information about potential tools it can use to track different types of cryptocurrency transactions as part of an investigative pilot program.
Information about the pilot is contained in a newly-published request for information made public by the agency on June 30. The pilot features several areas of focus, including privacy coins and layer-2 transaction protocols like the Lightning network.
The agency’s notice acknowledges that “there are few investigative resources for tracing transactions” in these areas that and “[t]he CI Cyber Crimes program is working to get in front of this trend through this RFI.”
On second-layer protocols like Lightning and Raiden in particular, the IRS stated that “[e]ven though Layer 2 protocols have been dismissed by many in the investigative support community, there is clear evidence that this is a growing network.”
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