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Weakness in Bitcoin Is Caused by Futures Expiration

According to Fundstrat head of research Thomas Lee, the recent decline in Bitcoin (BTC) price is likely the result of the expiration of Bitcoin futures, Bloomberg reports June 14. In a report, Lee explained that the “gut wrenching” weakness in Bitcoin (BTC), which dropped upwards of 20 percent earlier this week, was the result of futures contracts expiring. Lee said ...

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Oxford Profs Plan Launch of World’s First Blockchain-Based, Decentralized University

A group of Oxford professors are seeking full-degree granting powers in the EU for the world’s first “blockchain university”, according to an email shared with Cointelegraph today, June 14. According to the team of academics behind Woolf Development, led by Joshua Broggi from the Faculty of Philosophy at Oxford, blockchain tech and smart contracts can help democratize the traditional structure ...

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South Korea to Develop ‘Crypto Beach’, Modelled After Switzerland’s ‘Crypto Valley’

South Korea has revealed plans to launch a blockchain center in Busan city modeled on the Swiss Crypto Valley, local news outlet Edaily reported June 14. At a recent blockchain event in Seoul “2018 Global Blockchain Conference,” chairman of the Korea ICT Financial Convergence Association Oh Jung-geun claimed that the organization seeks to build a space similar to the “Crypto ...

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if Implemented Right, Blockchain Will Dramatically Reduce Costs for Banks

Blockchain technology has the potential to revolutionize transaction banking according to a study by major global management consultancy firm Bain & Company, Cointelegraph auf Deutsch reports today, June 14. According to Bain, “transaction banking revenues tend to be less volatile than other types of banking revenues, and bankers can cross-sell products, which is critical for client loyalty.” Bain concludes in ...

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Kazakhstan’s Int’l Finance Center Supports Crypto Innovation, Calls Regulation ‘Crucial’

The governor of Kazakhstan’s main financial hub has stated that while cryptocurrencies must be regulated, crypto and blockchain innovation will be supported, local news outlet Kazinform reports today, June 14. Speaking at the “Blockchain Conference Astana,” the Astana International Financial Center’s (AIFC)  governor Kairat Kaliyev said specifically that the AIFC is paying special attention blockchain and cryptocurrencies: “The problem of ...

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Blockchain Not More Effective Than Central Bank System ‘at This Time’

A Bank of Canada (BoC) official questioned the effectiveness and security of using blockchain tech for banking at a conference in South Korea today, June 14, according to local reports. As part of a presentation at the 2018 G20 Global Financial Stability Conference in Seoul, James Chapman, senior research director at the BoC’s funds management and banking department, also called ...

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Senior US Regulator Says Ethereum ‘in Its Present State’ Is Not a Security

A senior U.S. Securities and Exchange Commission (SEC) official has said that leading altcoin Ethereum (ETH) will not be regulated as a security, the Wall Street Journal (WSJ) reports today, June 14. SEC Corporation Finance Director William Hinman said at Yahoo Finance’s All Market Summit: Crypto in San Francisco today that: “Based on my understanding of the present state of ...

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Former Trump Advisor Steve Bannon Calls Crypto ‘Revolutionary’, Plans Entry Into Market

Stephen Bannon, co-founder of Breitbart News and former Chief Strategist for U.S. President Donald Trump’s administration, is planning to enter the world of crypto, the New York Times reports today, June 14. The New York Times reports that Bannon is currently planning his foray into the world of cryptocurrencies and Initial Coin Offerings (ICO). According to the Times, Bannon has ...

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Thai SEC Reveals 5 out of 50 ICO Applicants ‘Ready’ to Raise Funds Under New Laws

Thailand’s financial regulator the Securities and Exchange Commission (SEC) has confirmed five ICOs are ready to raise funds via the country’s new fundraising regulations, local media Bangkok Post reported June 13. Following new regulations governing cryptocurrencies that took effect May 14, ICOs will face obligatory requirements to register with the regulator, along with various other restrictions. According to Thawatchai Kiatkwankul, ...

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