Here’s what’s happening on Thursday in the cryptocurrency world. These are the top stories on cryptocurrencies for June 21.
South Korean cryptocurrency exchange Bithumb said that $31.5 million worth of virtual coins have been stolen by hackers. The exchange, which is the sixth busiest crypto platform in the world, said that customers would be fully compensated and all of its digital assets have been placed in “safe cold wallets” which aren’t directly connected to the Internet.
Swiss forex bank and brokerage firm Dukascopy is bullish on cryptocurrency. The firm is now offering business accounts to crypto-related companies. The bank says that it will select blockchain companies though a rigorous process and will accept applications from crypto companies incorporated and regulated in Switzerland, the EU, or the UK.
On June 8, the South Korean Policy Advisory Council began developing a regulatory framework for national cryptocurrency exchanges. Following the recent Coinrail Exchange hack, the South Korean government is imposing more stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to better protect investors.
The Freedom of the Press Foundation is now accepting bitcoin, ethereum, bitcoin cash, litecoin, and zcash as donations. The organization supports journalists and whistleblowers and uses donations for its projects related to free speech and free journalism.
Grammy-nominated artist Akon of “I Just Had Sex” fame is launching a new cryptocurrency called, what else, Akoin for the purpose of building a futuristic city in Senegal. Speaking at the Cannes Lions International Festival of Creativity, Akon said his proposed cryptocurrency could be “the saviour of Africa in many ways.”
BitTorrent, a peer-to-peer protocol for sharing data, sold its business to blockchain startup TRON for $140 million, according to a report from TechCrunch. In a statement, BitTorrent said that the acquisition won’t change its business model and there won’t be any fees for any of its services. In addition, the company said it has “no plans to enable mining of cryptocurrency now or in the future.”
The Rhino Coin Foundation is launching a new cryptocurrency dubbed Rhino Coin to help protect rhinos. On its website, the foundation says “Rhino Coin aims at attracting crypto-traders and investors, as well as supporters of rhino conservation, and promoting trading of RNC, all the while strengthening rhino conservation efforts.”
The United States government is directing government officials to disclose their cryptocurrency holdings. The United States Office of Government Ethics made it clear that digital currency is “property held…for investment or the production of income” and must be declared to avoid conflicts of interest. Interestingly, the IRS considers virtual currency as property, the Commodity Futures Trading Commission as commodities, while the Securities and Exchange Commission has yet to make a decision about it.
The state of Oregon is introducing new rules to allow campaigners to accept donations of cryptocurrency. KTVZ reports that Secretary of State Dennis Richardson has announced proposed changes to campaign finance administrative rules to allow campaigns to accept Bitcoin and other virtual currencies in the form of donations. In a news release, Richardson said “cryptocurrency is here to stay, and Oregon needs to adapt to that reality by allowing this new form of donating. Allowing cryptocurrency to be a part of our elections process is a new and innovative way to expand participation in Oregon elections.”
Cryptocurrency Price Update (As of 6:10 ET AM Thursday, June 21, 2018)
Bitcoin (BTC) gained 1.64% over the past 24 hours, trading at $6,743.58 in the morning. Over the past two weeks, the value of the currency dropped 12.55%.
Ethereum (ETH) is trading at $534.27, up 2.45% over a 24 hour period. ETH gained just 0.37% over the past two weeks.
EOS moved up 1.95% over the past 24 hours. It is trading at $10.48.
Ripple (XRP) is trading at $0.5389, up 1.70% over a 24 hour period. Over the past two weeks, XRP fell 9.55%.
Litecoin (LTC) is trading at $97.19, up 1.21% over a 24-hour period. It lost 8.61% over the past 12 months.