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The World's Fourth-most Populous Country Recognizes Crypto Roll Eyes

An Indonesian government body says it will recognize cryptocurrencies as future trading commodities – despite the central bank’s anti-crypto stance.
Indonesian media outlet Kontan quotes Trade Ministry’s Futures Exchange Supervisory Board's (known as the Bappebti) market supervision and development bureau chief Dharma Yoga as saying that that the board had conducted a four-month study into cryptocurrencies, and quoted Yoga as saying, “The Bappebti has signed a decree to make cryptocurrency a commodity that could be traded at the bourse [the Indonesian stock exchange].”

https://cryptonews.com/news/the-world-s-fourth-most-populous-country-recognizes-crypto-1936.htm

‘Over Dozens Of Banks To Use XRP Powered XRapid By 2019,’ Says Brad Garlinghouse
https://ethereumworldnews.com/over-dozens-of-banks-to-use-xrp-powered-xrapid-by-2019-says-brad-garlinghouse/

Sia Community Update — May 2018
https://blog.sia.tech/sia-community-update-may-2018-d2fb66cf953c

Ripple and University of Nicosia enter multi-year agreement Cool

The University of Nicosia (UNIC) has announced that it has entered a multi-year agreement with Ripple to support its world-leading initiatives in the areas of blockchain technology and cryptocurrency, through support of academic research, technical development and student scholarships.

https://cyprus-mail.com/2018/06/06/ripple-and-university-of-nicosia-enter-multi-year-agreement/

Types of Cryptocurrency Investments

Those individuals who jumped into cryptocurrency investing when Bitcoin first came onto the market have had the opportunity to get rich quickly if they made the right moves when it came to their investments. This has prompted waves of buying and selling that have made some cryptocurrency markets too volatile for many and others would prefer to invest instead of purchasing currencies outright.

Read more: https://medium.com/@BLMPNetwork/types-of-cryptocurrency-investments-ad2fd86a3aeb

Ripple Smart Contracts Creator Targets Ethereum with New Tech Launch

Ripple's former CTO Stefan Thomas is going up against Ethereum with the launch of a new smart contracts platform.

Well, "new" isn't quite right – the platform Thomas released implementations for today is Codius, an open-source project that Ripple released in beta in 2014 but shelved the following year. Now, though, having announced his departure from Ripple in May, Thomas is re-launching Codius as the technical backbone for his new company, Coil.

https://www.coindesk.com/ripple-smart-contracts-creator-targets-ethereum-new-tech-launch/

Notice to Postpone Listing of SingularityNET (AGI)
https://support.binance.com/hc/en-us/articles/360004539731

Vertcoin Development Update — May 2018
https://medium.com/vertcoin-blog/vertcoin-development-update-may-2018-83ee6ca6d4b8

Korean Police Allege Coinone's Crypto Margin Trading Is Illegal Gambling

A South Korean police department has said it will recommend bringing charges against cryptocurrency exchange Coinone over its provision of margin trading, according to a report.

Yonhap reported Wednesday that the cybercrime investigation unit of the country's southern provincial police department alleged that Coinone's crypto margin trading is, in effect, offering illegal gambling that could be used to launder criminal proceeds.

Link: https://www.coindesk.com/korean-police-allege-coinones-crypto-margin-trading-is-illegal-gambling/

Capital vs Income as the defining factor in taxing cryptocurrency transactions

The brave new world of cryptocurrency is surrounded by a number of questions and ambiguities. This is only to be expected given its relative infancy and the breakneck speed with which it is evolving and gaining ground. However, it would appear in 2018 that certain parameters are now being established and ground rules acknowledged, as various jurisdictions are setting out clearer rules of engagement with this sector.

http://www.independent.com.mt/articles/2018-06-07/business-news/Capital-vs-Income-as-the-defining-factor-in-taxing-cryptocurrency-transactions-6736191199

Operation Prowli Malware Infects Over 40,000 Machines, Which Were Used for Crypto Mining

The GuardiCore security team has discovered a malicious traffic manipulation and cryptocurrency mining campaign, according to an announcement published June 6. The campaign infected over 40,000 machines across various industries, including finance, education, and government.

The campaign called Operation Prowli used various techniques like exploits and password brute-forcing to spread malware and take over devices, such as web servers, modems, and Internet-of-Things (IoT) devices. GuardiCore found that the attackers behind Prowli were focused on making money rather than ideology or espionage... Read more

Japanese I.T. Giant Fujitsu Unveils Blockchain Platform for Retailers

Japan’s I.T and computing equipment giant Fujitsu announced the launch of the cloud-based Fujitsu Intelligent Society Solution Blockchain Asset Service on June 6, 2018.
Via an official announcement, the company revealed its plans for the use of blockchain technology in retail sectors – such as digital points, stamps, and coupons – aimed towards tourist sites, markets, and shopping centers.

Using the service, customers will be able to collect digital stamps by scanning QR codes in designated areas and redeem them for benefits and coupons in selected shopping or retail stores.

The collected information and usage data will be recorded on Fujitsu’s hybrid blockchain. Additionally, it will be linked with user information for use in related analysis.

Fujitsu aims to connect promotions and shopping events with its blockchain platform, in turn augmenting the customer footfall for partner brands.

The announcement stated:

“At the same time, they can also more effectively set strategies for regional revitalization, based on the activity patterns of users seen in the analysis results, and on such factors as the use of the coupons and other benefits.” https://www.ccn.com/japanese-i-t-giant-fujitsu-unveils-blockchain-platform-for-retailers/

Swiss Bank Becomes First in Country to Offer Business Accounts to Crypto Companies

Hypothekarbank Lenzburg has become the first bank in Switzerland to provide business accounts to blockchain and cryptocurrency companies, Cointelegraph auf Deutsch reported June 6.

While Falcon Private Bank has provided crypto asset management services since last year, Hypothekarbank Lenzburg CEO Marianne Wildi confirmed that they are first bank in the country to open company accounts for blockchain and crypto-related fintech companies... Read more

Operation Prowli Malware Infects Over 40,000 Machines, Which Were Used for Crypto Mining

SMALL BUSINESS PLATFORM IN $50M CRYPTO TOKEN SALE

A new platform for small businesses and investors has announced a $50 million token sale ahead of its launch.

Clarity, which bills itself as ‘a one-stop shop for small business owners worldwide’, hoping to provide businesses with access to, and control over their data.

Read more: http://www.businesscloud.co.uk/news/small-business-platform-in-50m-crypto-token-sale

Japan Blasts Crypto Exchange Execs in First-Ever License Rejection

Japan has issued its first official rejection of a cryptocurrency exchange application.

The announcement, released by the Financial Services Agency (FSA) on Thursday, confirms a report yesterday that indicated the regulator would move to reject FSHO's application – its first such refusal – after it sent two suspension orders to the firm in March and April, respectively.

Link: https://www.coindesk.com/japan-blasts-crypto-exchange-execs-first-ever-license-rejection/

FOAM and the Dream to Map the World on Ethereum

Even Pokemon Go might need a blockchain.

While an augmented reality mobile app used to collect funny-looking, digital critters might sound like a silly (or useless) service to re-architect with blockchain, the developers at ethereum startup FOAM make a compelling case.

"The problem is that people lie about their location," said Ryan John King, the co-founder and CEO of FOAM. Using a range of tutorials across the web, a tech-savvy Pokemon Go player could easily trick the game into thinking they're in Hong Kong, catching all the unique Pokemon there when really they're sitting in their apartment in Brooklyn, New York, he said.

That'll be news to many since most people use GPS (the Global Positioning System) flawlessly on a daily basis.Read more

RUSSIA: CRYPTOCURRENCY USERS MUST CALCULATE OWN TAX

Russian citizens will have to compute their own tax obligations from cryptocurrency trading, the head of the country’s tax office said on June 6.

Read more: http://bitcoinist.com/russia-finance-ministry-says-cryptocurrency-users-must-work-tax/

Estonia Grants Licenses for Wallet and Exchange Services to Coin Metro

It isn’t just Malta that is attracting crypto business these days, other small and fast moving countries on the European continent are joining the action. The latest example comes from Estonia, which recently granted licenses for offering wallet and exchange services to the cryptocurrency trading platform Coin Metro.

Link: https://news.bitcoin.com/estonia-grants-licenses-for-wallet-and-exchange-services-to-coin-metro/

Korean Crypto Exchange Coinone and 20 Traders to Face Charges Over Margin Trading

The South Korean police are reportedly preparing to charge Coinone’s executives, including its CEO, and 20 of the exchange’s members. This follows a 10-month investigation on allegations that the exchange provided gambling services through its crypto margin trading program.

Link: https://news.bitcoin.com/korean-crypto-exchange-coinone-charges-margin-trading/

Gold And Bitcoin In The Next Financial Crisis

When they’re defending the high allocation of gold in their portfolios, many gold bugs point to the fact that ever since the 2008 financial crisis, central banks have been printing money at a rapid pace in a desperate attempt to keep the world economy out of another recession. Economic recovery this decade has been slow and sluggish, prompting unprecedented actions from central banks, including the Federal Reserve. Between the four most powerful central banks in the world, the U.S., Japan, the ECB, and the U.K., $9 trillion have been printed in the last decade. That’s a 12.5% increase in the world’ total existing cash, which now stands at $80.9 trillion. Despite rapid cash printing and low interest rates, central banks have struggled with low inflation.

Read more: https://channels.theinnovationenterprise.com/articles/gold-and-bitcoin-in-the-next-financial-crisis

Switzerland Shows the Way: Bank First to Offer Crypto Business Accounts

Switzerland’s legacy bank, Hypothekarbank Lenzburg, announced this week it was accepting cryptocurrency related businesses as account holders, something many legacy financial institutions outright refuse. Long viewed as a progressive society way ahead of its time, the Swiss are once again leading, … this time it’s doing so in the crypto revolution.

Link: https://news.bitcoin.com/switzerland-shows-the-way-bank-first-to-offer-crypto-business-accounts/