Crypto in Press [2018-06-15] - Korean Standards ASS, Crypto-Mining Ban, FORBES, Venezuela and more

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#1 Korean Standards ASS partners with Walton to Develop Blockchain Tech

#2 Missoula County Commissioners Delay Decision on Crypto-Mining Ban

#3 FORBES: What If Bitcoin, Crypto Prices Are Being Manipulated?

#4 World Cup Gift: A Swedish Sports Brand Wants Same-Sex Marriage on Blockchain

#5 Venezuela Begins Monitoring Bank Accounts for Crypto Transactions

#6 Israel Securities Authority Enters Talks with Spot.IM over Bitcoin Salaries

#7 Thomas Lee: Weakness in Bitcoin Is Caused by Futures Expiration

#8 Crypto Markets Rebound After News the US SEC Will not Consider Ethereum a Security

1. The Korean Standards Association(KSA) has signed a partnership agreement with the Walton Blockchain Institute on the development of the blockchain technology to embrace the Fourth Industrial Revolution. The Director of the Korean Standards Association Lim Hyeon Cheol emphasized: “The purpose of this partnership agreement is to promote blockchain-related technical education, cultivate talents and enhance IT professionalism.” The

2. The Missoula County Commission held a public hearing on Thursday to decide on a proposal to suspend new mining initiatives for one year. After hearing about two hours of presentations and public comments on the Bitcoin mining operations in Bonner, the Missoula County Commission postponed the ruling as it was decided that more information is needed.

3. I recently had this heated argument with a financial executive on the difference between Bitcoin and gold. He argued that they were pretty much the same thing. Gold's price has always been whatever people think it was worth. The same with cryptocurrencies.

I retorted that they are not the same. Gold is tangible. You can hold it in your hand. You know how much of it is being stored in vaults. Although the price certainly fluctuates, gold has been a store of value for thousands of years. It doesn't rust or corrode.

But what exactly is Bitcoin and its thousands of cousins? It's computer code and exists only in the imagination and in cyberspace. Its price is something borne of pure speculation. If cryptos are a store of value, what are they truly representing?

4. A giant Swedish sports fashion brand, Björn Borg, has contrived a big campaign to call out Russia and the rest of countries that haven't yet permitted under law gay marriage.

Björn Borg believes that Marriage Unblocked is a great platform and website company built to enable anyone to exchange vows and get married on blockchain in public or anonymously.

5. The government of Venezuela has started monitoring the bank accounts of its citizens for cryptocurrency-related transactions.

6. Spot.IM, an internet company with its offices in Tel Aviv is in high gear negotiations with the Israel Securities Authority (ISA). Spot.IM is not part of crypto ecosystem but more of the internet industry. The talks are primarily focusing on felicitous exchange rate that is an important matter for making this work and there are a lot of hope that the two parties will reach at the equilibrium point of agreements just with in the next month or beyond and this will push the plans to go further.

7. 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 the “significant volatility” is one of six expirations of Bitcoin that have happened since CBOE launched its futures contracts in December 2017. Lee wrote:

"Bitcoin sees dramatic price changes around CBOE futures expirations... We compiled some of the data and this indeed seems to be true.”

8. June 14th: all but two of the top 100 cryptocurrencies by market capitalization are making gains, according to Coinmarketcap data. Gains in of over 10 percent in some coins are a welcome respite for investors after crypto markets took a battering over the course of last month. Today’s gains are likely due to positive news that Ethereum (ETH) will not be regulated as a security under U.S. law.

Bitcoin (BTC) is now up 5.89 percent in the 24-hour period, trading around $6,688 at press time. The leading cryptocurrency began to see a reversal of its downtrend late afternoon today, recovering from its intraday low of $6356.

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