Here’s what’s happening on Monday in the cryptocurrency world. These are the top stories on cryptocurrencies for June 18, 2018.
The UK Department for Education has no immediate plans to include cryptocurrency and blockchain education in the school curriculum. The department says that it will introduce a new rigorous mathematics curriculum and will make financial education compulsory for 11-16 year olds.
Hollywood star Kurt Russell is playing an important role in an upcoming film about cryptocurrencies. Featuring Russell, Alexis Bledel, Jeremie Harris, and Luke Hemsworth, the film Crypto shows a story of a young anti-money laundering agent, played by Beau Knapp, who investigates a fraud case in his town.
Reports suggest that Financial Action Task Force (FATF) will work with the Japanese government to introduce new unified cryptocurrency regulations in the coming months. Last month, the Japanese Financial Services Agency urged the world’s top economies in the G20 to create unified regulations for cryptocurrencies.
The New York Department of Financial Services has allowed cryptocurrency Stellar Lumens to trade on itBit, a cryptocurrency trading platform for institutional investors. In addition, the agency gave the green light for itBit to add Bitcoin Cash, Ethereum, and Litecoin to its offerings.
The U.S. Securities and Exchange Commission said that Ethereum – the world’s second-largest cryptocurrency – should be treated as a security. The price of Ethereum moved up 10% to $514 following the comments from William Hinman, the SEC’s director of the division of corporate finance that ether—which powers the Ethereum network—shouldn’t be regulated the same way as stocks and bonds. Hinman was speaking at the Yahoo Finance All Market Summit: Crypto on Thursday.
Newly-created cryptocurrency firm SIM Chain International has raised $30 million in cryptocurrency funding from 100 business partners in two weeks since the company was founded on June 4, 2018. SIM Chain is a unit of Koperasi Blue Ocean 1 Nation Kuala Lumpur Bhd, which is engaged in a range of businesses including movie production, crowd funding, Islamic financing, real estate, tourism, education, fixed deposit, laundry, catering, and farming, among others. SIM Chain intends to use the proceeds to reinvest in more than 100 different industries such as hotel, hospital, plantation, tourism and education in China and Malaysia.
Mike Novogratz, a former Wall Street trader and a Bitcoin lover, is investing $15 million in a startup that will help businesses in launching cryptocurrency exchanges and tokenize assets through blockchain-based technology. The startup, AlphaPoint, is also working with The Royal Mint and CME Group to develop a platform for digital gold trading. Novogratz is making the investment through his firm Galaxy Digital Capital Management.
50 Cycles, a UK-based electric bicycle manufacturer, is developing cryptocurrency mining e-bikes. Called Toba, the bikes would generate approximately $26.5 worth of cryptocurrency ‘LoyalCoin’ per 1,000 miles ridden.
Talking to CNBC’s Fast Money show, cryptocurrency trader Ran Neu-Ner said that the world’s most popular cryptocurrency. He believes that the virtual currency hasn’t bottomed yet. “We keep going down, and we’re testing new lows,” Neu-Ner said, adding that “sixty-two-fifty is the next point”. Neu-Ner said that $5,000 was a key level for investors to watch. “At about $5,000, if we don’t get a turn up, then we may see a very different game in mining.”
Two of Russia’s largest banks —Alfa-Bank and Sberbank— are preparing to test cryptocurrency trading solutions for their clients. The banks are building their own trading solutions for six of the cryptocurrencies, according to media reports.
Cryptocurrency Price Update (As of 4:47 ET AM Monday, June 18, 2018)
Bitcoin (BTC) has dropped 0.60% over the past 24 hours, trading at $6,485.55. Over the past two weeks, BTC lost 14.71% of its value.
Ethereum (ETH) is trading at $497.54, down 0.95% over a 24 hour period. ETH lost 3.65% over the past two weeks.
EOS has fallen 1.88% over the past 24 hours. It is trading at $10.42. The currency lost 12.93% of its value over the past two weeks.
Ripple (XRP) is trading at $0.5213, tumbling 2.34% over a 24 hour period. Over the past two weeks, XRP dropped 7.52%.
Litecoin (LTC) is trading at $95.13, down 1.68% over a 24-hour period. It lost 9.11% over the past two weeks.