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Cryptocurrency End of Day Recap

Jun 18, 2018

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  • South Korea’s Central Bank, the Bank of Korea (BoK), has said that issuing a central bank digital currency could pose a moral hazard. The Bank believes that such a currency would adversely affect monetary policy and its implementation, possibly even causing instability in the market. Additionally the Bank said that digital currencies do not perform as money. The bank issued a report where it recommended regulations on the private issuances of digital currencies.
  • MetaX, a digital advertising startup is seeking to build a user-driven registry of trusted advertisers and publishers which will verify the legitimacy of advertisements. Firms will buy their memberships using a cryptocurrency token. The protocol will have an entry cost of 1,500 tokens or roughly USD$30. The firm hopes that the community will act as gatekeepers to new applications via voting and the coalition will only feature high quality businesses.
  • Bitfinex has created a system where owners of EOS can vote on the protocol and trade the cryptocurrency. The voting tool is open-source and it will also let users stake their current EOS exchange wallet balances, margin balances and funding wallet balances for voting. The exchange claims to be the only exchange where tokens for margin longs are currently eligible for voting.
  • Japan’s Virtual Currency Exchange Association (JVCEA) will be releasing new voluntary rules next week. It is reported that the association will release a ban on insider trading. JVCEA will reportedly also be releasing regulations on anti-money laundering and prohibit anonymity cryptocurrencies such as Monero and Zcash. The JVCEA was formed at the end of April following the USD$530mm NEM hack on crypto exchange Coincheck and is made up of Japan’s 16 licensed crypto exchanges.
  • Quantamize’s AI Machine Learning 3-Day trading signals were updated Sunday 6/17/18 and will be updated on Wednesday 6/20/2018. Quantamize's AI Machine Learning CryptoFolios were updated Sunday 6/17/18 and will be updated on Sunday 6/25/2018

Sources:

https://www.coindesk.com/bank-of-korea-central-bank-cryptocurrencies-pose-moral-hazard/

https://www.wsj.com/articles/whats-an-online-ad-worth-blockchain-might-help-with-that-1529326800?mod=searchresults&page=1&pos=1

http://bitcoinist.com/bitfinex-enables-voting-for-eos-block-producers/

https://cointelegraph.com/news/japan-s-self-regulatory-crypto-exchange-body-to-release-voluntary-rules-report-says