Cryptocurrencies Market Overview - June 8, 2018

Today in the news:

• Bithumb has been cleared by local financial authorities.
• Virtual currencies will become part of the economic practices of any country, according to a CFTC Commissioner.
• The Chinese search giant Baidu is launching a blockchain game aimed to educate people about possibilities of crypto technology.
• Quebec has halted approvals for new cryptocurrency mining operations.
• And more crypto news below...

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Latest Crypto News - June 8, 2018

Which Way? Bitcoin's Low Volatility May Force Big Move

Bitcoin has been squeezed into an increasingly narrow range for more than two weeks and is now experiencing volatility not seen for eight months. As a result, it's looking likely that bitcoin could soon make a strong move, but the direction it will take when that happens is less than clear.

_{Read more: www.coindesk.com}

More sources about Bitcoin's price:

• BTC Markets Update: Major Symmetrical Triangle Set to Break
• Bitcoin, Ethereum, Ripple Drop 3% in $9 Billion Crypto Market Retreat

No Illicit Activities: South Korea’s Biggest Cryptocurrency Exchange Cleared by Government

Bithumb, South Korea’s biggest cryptocurrency exchange, has been cleared by local financial authorities and the National Tax Service (NTS). While the company was ordered to pay $28 million in taxes, the government found no evidence of illicit activities, tax evasion, and suspicious business operations.
_{Read more: www.ccn.com}

Virtual Currencies to Become “Part of the Economic Practices” of All Nations – CFTC Commissioner

United States Commodities Futures Trading Commission (CFTC) commissioner, Rostin Behnam recently gave a speech in which he predicted that “virtual currencies […] will become part of the economic practices of any country.” The CFTC commissioner predicted that cryptocurrencies will have a transformative effect in providing financial services to unbanked populations, and undermine corruption through increasing financial transparency.
_{Read more: news.bitcoin.com}

Blockchain's Once-Feared 51% Attack Is Now Becoming Regular

At least five cryptocurrencies have recently been hit with a 51% attack, a vulnerability users used to scoff at.
_{Read more: www.coindesk.com}

Hyland: 1st Bitcoin ETF Closer To Reality

While the Securities and Exchange Commission has yet to approve any bitcoin or cryptocurrency exchange-traded products, Hyland believes that could change relatively soon. Read on to find out when Hyland sees the first crypto ETF coming to market and what form it will take.
_{Read more: www.etf.com}

Alipay’s Parent Company Secures $14 Bln for Blockchain Development

Alipay’s parent company Ant International secures $14 bln in a Series C equity funding round for blockchain and fintech development.
_{Read more: cointelegraph.com}

More sources:

• Alibaba Affiliate to Boost Blockchain Development After $14 Billion Raise

Search Giant Baidu Is Launching a Blockchain Space Game

The Chinese search giant is this week launching a blockchain game aimed to educate people about possibilities of crypto technology.
_{Read more: www.coindesk.com}

More sources:

• ‘Chinese Google’ Baidu to Release Interstellar Blockchain Game

Cryptocurrency Not Yet Usable as Money, Russian Rating Agency Concludes

A new Russian credit agency rating report into the usability of cryptocurrency finds that it is not currently viable as a means of payment, but it could gain popularity in the event of more international sanctions.
_{Read more: cointelegraph.com}

More sources:

• Cryptocurrencies Not a Risk to Stability, Russian Study Concludes

Quebec Halts Crypto Mining Approvals Pending New Restrictions

Quebec has halted approvals for new cryptocurrency mining operations while it draws up new rules and may raise energy costs.
_{Read more: www.coindesk.com}

More sources:

• Quebec Halts Crypto Mining Electricity Requests Amid Huge Demand, Forms New Framework

EOS Block Producers Agree to Print 19,000 More Tokens

Pitchforks are out in the EOS land where frustration is growing with the continued failure to launch the blockchain after barley days of testing.

_{Read more: www.trustnodes.com}

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