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Bitcoin Just Got a Shoutout in a New US Supreme Court Opinion

That's not something you see every day: an opinion from the U.S. Supreme Court that makes a reference to cryptocurrencies.

On June 21, the Supreme Court issued a ruling on Wisconsin Central Ltd. v. United States, a court case involving a dispute over whether worker stock options can be taxed as a kind of "compensation" in the same way that money is.

https://www.coindesk.com/bitcoin-gets-shoutout-us-supreme-court-opinion/

South Korea denies report of capital gains tax on cryptocurrencies

The report earlier cited an unidentified high-level government official, saying that the government is preparing plans to levy about 10% tax on profit created from cryptocurrency investment. The official says that the timing to introduce the levy hasn't been decided and currently 1-2 years of grace period is considered by the government.

Read more: https://www.forexlive.com/cryptocurrency/!/south-korea-denies-report-of-capital-gains-tax-on-cryptocurrencies-report-20180622

Ethereum Classic Price Defies Bear Market in Single-Day Rally

The ethereum classic price continued its inexorable rise on Thursday afternoon as it reached $17.71 on cryptocurrency exchange Binance — a single-day increase of 7%.

There could be several factors which are affecting this price movement. The principal one is the listing on Coinbase, which was something of a surprise when it beat other contenders such as Ripple’s XRP token to the finishing line.

Turnover has also increased quite substantially in the past days where the price climbed from a low of around $13.50 to $17.74 of now and appears to be still rising.

https://www.ccn.com/ethereum-classic-price-defies-bear-market-in-single-day-rally/

Zcash Pays Off Disgruntled Developer to Avoid Blockchain Split

Despite the best efforts of zcash developers to keep the cryptocurrency's coming upgrade, Overwinter, as seamless as possible, the $8 billion network was faced with a plot-twist this week.

Mere days before the update (a hard fork of the code) was set to execute – a developer decided to effectively threaten to split the network – if he wasn't paid in return that is. In a forum post published Tuesday, the sole maintainer of the Windows zcash wallet software, D. Jane Mercer, said he was going to cease development of the clients and release a zcash competitor "rebranded as another coin," if he didn't get further funding for his work...Read More

Japan regulator orders cryptocurrency bourses to improve operations

TOKYO (Kyodo) -- Japan's financial watchdog on Friday ordered six cryptocurrency exchange operators to improve internal controls, including taking steps against money laundering.

Read more: http://mainichi.jp/english/articles/20180622/p2g/00m/0bu/104000c

Bitfinex's Chief Strategy Officer Leaves Crypto Exchange

Phil Potter, chief strategy officer for cryptocurrency exchange Bitfinex, has reportedly left the company.

Reuters reported Friday that Potter, who is also a director of the 'stablecoin' issuing company Tether, will be temporarily replaced by Jan Ludovicus van der Velde, Bitfinex's CEO. A spokesperson told the news service that the parting was "mutual" in nature...Read More

Bank of England to Open Settlement System to Private Firms, Distributed Ledgers
The Bank of England remains bearish on bitcoin, but the central bank has announced plans to overhaul its settlement system to allow private payment systems, including those based on blockchains and other types of distributed ledgers, to interface with the platform.

Bank of England Governor Mark Carney announced the plans in a speech delivered on Thursday at Mansion House in London, explaining the bank will execute an “ambitious rebuild” of its Real Time Gross Settlement System (RTGS), which serves as the “backbone of every payment in the UK.”

The revamped RTGS will allow private payment platforms to connect directly to the central bank’s system — even for cross-border payments. He specifically stated that platforms using distributed ledger technology (DLT) — which includes, but is not limited to, blockchains — will be able to connect to the bank’s network.

“RTGS is being re-built so that new private payment systems, including those using distributed ledger, can simply plug into our system. Our new, hard infrastructure will be future-proofed to your imaginations, opening up a range of potential innovations in wholesale markets, and corporate banking and retail services,” he said, adding:

“No longer will access to central bank money be the exclusive preserve of banks.”
https://www.ccn.com/bank-of-england-to-open-settlement-system-to-private-firms-distributed-ledgers/

$13 Billion Wiped Out as Cryptocurrency Market Takes Another Beating

On June 23, the cryptocurrency market demonstrated another minor short-term correction, as $13 billion were wiped out of major digital assets such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS.

Read more: https://www.ccn.com/13-billion-wiped-out-as-cryptocurrency-market-takes-another-beating/

Entrepreneurs and developers behind four different blockchain startups can add their names to the list of Thiel Fellowship awardees.

The Thiel Foundation, created and funded by billionaire investor and PayPal co-founder Peter Thiel, announced its 2018 class of Thiel Fellows on Friday. Among this year's recipients are Vest co-founder Axel Ericsson, Polkadot co-founder Robert Habermeier, MyCrypto CTO Daniel Ternyak and Mechanism Labs co-founder Aparna Krishnan, according to a press release.

They join the crypto community's most notable Thiel Fellow - ethereum co-founder Vitalik Buterin, who received the award in 2014. Each recipient will be given a $100,000 grant over the next two years to help them build their current and future projects.

In a newsletter, Allyson Dias, director of the Thiel Fellowship, said the purpose of the fellowship is to help young aspiring entrepreneurs to find innovative approaches to tackle real-world issues.
https://www.coindesk.com/4-blockchain-entrepreneurs-win-100k-thiel-awards/

Blockchain Is Saving Trust By Making It Irrelevant

Trust is in crisis. Since witnessing a healthy peak of 77% in 1964 (according to data concerning the US government), it has repeatedly sunk to discouraging lows. In 2017, only 47% of the general global population trusted the 'four institutions'—the government, the media, business, and non-governmental organizations, Edelman's annual Trust Barometer revealed.

https://cryptonews.com/exclusives/blockchain-is-saving-trust-by-making-it-irrelevant-2073.htm

Mt. Gox Creditors One Step Closer To Their Bitcoins Roll Eyes

Infamous, and now defunct, cryptocurrency exchange Mt. Gox has begun the process for a civil rehabilitation, as bankruptcy proceedings are put on hold. Announced on Friday by their trustee Nobuaki Kobayashi, the exchange has just today been awarded permission for this act by the Tokyo District Court, whereas the petition was filed in November 2017.

https://cryptonews.com/news/mt-gox-creditors-one-step-closer-to-their-bitcoins-2079.htm

BitFlyer Closes Door to New Clients After Regulator Slaps 6 Exchanges Shocked

BitFlyer, one of the biggest cryptocurrency exchanges in Japan, announced today that they will stop accepting new customers in the foreseeable future to address issues recently identified by regulators. Regulators have issued improvement orders for bitFlyer and five other Japanese cryptocurrency exchanges because of what they deemed lax anti money laundering measures.

https://cryptonews.com/news/bitflyer-closes-door-to-new-clients-after-regulator-slaps-6-2076.htm

for those who enter this market, read the news and you will know where the market seeks and how it reacts, what happens to the crypto

Cryptocurrency bears are still clawing away at digital asset prices on Sunday, June 24 as most of the digital currency market values are down between 3-12 percent over the last 24-hours. The top cryptocurrency market held by bitcoin core (BTC) has touched a triple bottom at $5,832 during the early morning June 24 trading sessions. The last two times BTC dropped to these price ranges was in November 2017, and last February. Some traders believe a third bottom indicates significant support and cryptocurrency prices could capitulate after breaking through resistance levels.
https://news.bitcoin.com/markets-update-triple-bottom-confirmed-but-where-will-it-lead/