The use of Segregated Witness on the Bitcoin Network has kept on rising throughout the bear market, and this year hit a new all-time high above the 62% mark. SegWit adoption has been growing partly because crypto exchanges have started adding support for it.

Despite improving fundamentals, regulators are seemingly not convinced. Qatar, a country in the Middle East with a population of 2.5 million, has reportedly banned cryptocurrency trading for unclear motives.

On the other hand, cryptocurrency adoption seems to be on the rise. Burger King Venezuela has partnered with a Latin American crypto trading platform to accept payments in top cryptoassets, and has plans to do so at 40 locations. Other reports suggest Burger King Slovenia is accepting BCH payments.

Top stories in the Crypto Roundup today:

• Bitcoin’s SegWit Adoption Hits New All-time High Over 62%
• Qatar Reportedly Bans Cryptocurrency Trading
• Burger King Venezuela Starts Accepting Cryptocurrency Payments

At the time of writing, bitcoin (BTC) is trading at $7,536.38 (1.36%) with a daily Top Tier volume of $1.47 billion. As for ether (ETH), it is trading at $140.17 (3.54%) with a daily Top Tier volume of $361.22 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,438.84 (2.15%).

Bitcoin’s SegWit Adoption Hits New All-Time High Over 62%

Use of Segregated Witness (SegWit) on the Bitcoin network has hit a new all-time high above the 62% mark last week, as more cryptocurrency exchanges and wallets are starting to adopt the technology meant to help Bitcoin scale by better managing the data contained within transactions.

Major cryptocurrency exchanges like BitMEX and Bitfinex have already added native support for SegWit transactions, effectively helping the network scale. Binance, one of the largest exchanges in the world, hasn’t yet added SegWit support, even though its CEO Changpeng Zhao has revealed the company is working on it.

Litecoin, a cryptocurrency often seen as the silver to Bitcoin’s gold, has adopted SegWit before the flagship cryptocurrency. Its usage of the scaling solution has been growing quickly, as back in September 2019 75% of LTC transactions were using SegWit.

Qatar Reportedly Bans Cryptocurrency Trading

The Qatar Financial Centre (QFC) Regulatory Authority has reportedly said that “virtual asset services may not be conducted in or from the QFC at this time,” according to news outlet International Investment.

This means that Qatar, a country in the Middle East, banned cryptocurrency trading both in fiat-to-crypto, and crypto-to-crypto form. The ban, the news outlet reports, also includes financial services related to cryptos and custody solutions. The report adds the regulator made it clear the ban applies to "anything of value that acts as a substitute for currency, that can be digitally traded or transferred and can be used for payment or investment purposes."

The reason behind the move is currently unclear, although some speculate it may be related to potential terrorist financing or money laundering.

Burger King Venezuela Starts Accepting Cryptocurrency Payments

The Venezuelan branch of the popular fast-food outlet Burger King has started accepting cryptocurrency payments, and plans to expand the option to 40 locations across the country.

Via Twitter Cryptobuyer, a Latin American platform to buy and sell digital currencies, confirmed that currently only one location is accepting crypto, but the fast-food chain plans to expand crypto adoption. At the location, it’s possible to pay using BTC, ETH, LTC, BNB, Dash, and Tether’s USDT.

The move is a result of a partnership between Cryptobuyer and Burger King Venezuela, according to Dash executive Ernesto Contreras. Burger King itself hasn’t yet made any announcement regarding cryptocurrency payments but did retweet articles on the move. Other reports suggest Burger King in Slovenia is accepting Bitcoin Cash.

State of the Crypto by Top Tier Exchange Volume

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