Here are a few Interesting news stories from the past week in the Crypto world, as gathered by our analysis team:
• South Korea: Government Committee Plans to Make ICOs Legal Again:
According to Business Korea, a National Assembly committee dedicated to studying the so-called ‘Fourth Industrial Revolution’ said it would seek to enhance the legal “basis” of cryptocurrency in the country, part of which would be reversing the ICO ban which the government enacted in September 2017.
• China’s President Xi Says Blockchain Part of New ‘Technological Revolution’:
President of China Xi Jinping openly praised blockchain technology during a speech May 28, as the technology continues to cement itself in the country’s future plans. Speaking at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing, Xi included blockchain as an example of a “new generation” of technologies delivering “breakthroughs.”
“Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity. A new round of scientific and technological revolutions and industrial changes is reconstructing the global innovation map and reshaping the global economic structure,” he said.
• Top Crypto Exchange Binance Seeks 20 Major Partners for Giant $1 Bln Fund:
Using only Binance’s BNB tokens as an investment vehicle, the fund will be administered through the exchange’s incubator spin-off Binance Labs.
Binance, which in April relocated to Malta, has already supported four blockchain projects through the incubator, among which was a $30 mln funding round for privacy-focused altcoin MobileCoin the same month.
The fund seeks to onboard only significant heavyweights as partners, members requiring at least $100 mln under asset management. Binance is seeking a total of twenty such partners.
• Positive Blockchain, Crypto Legislature Receives Multi-Party Support in Spain:
A draft legislation that would allow for a review of crypto and blockchain regulation, including a testing introduction of the technology to the Spanish market through a sandbox, has received unanimous support from all parties present at the Spanish Congress this week. The Congress has agreed to promote blockchain tech as a cost-efficient solution and espouse the need for supporting fintech startups.
• Scottish ‘Crypto Clinic’ Treats Bitcoin Trading Addicts:
A Scottish hospital is treating people who are addicted to trading cryptocurrencies in the UK’s first ever ‘crypto clinic‘.
Castle Craig Hospital in Peeblesshire, the Scottish Borders, has created a course of residential treatment for those it deems to be crypto addicts. Experts told the Evening Standard that crypto trading can become a form of behavioural addiction, with traders obsessively glued to “minute-by-minute” market fluctuations. The devised treatment program is therefore closer to existing methods for treating gambling addictions, rather than to substance abuse programs.
- EOS Price Jumps on News of EOSIO 1.0 Release, $50 mln Fund to Support ‘Ecosystem’:
Blockchain software developer Block.one has released version 1.0 of their open-source blockchain protocol, EOSIO. The software is a platform designed for building applications at both the enterprise and “community-driven” levels.
According to the company’s post, Block.one does not guarantee that the EOSIO software will perform “as intended” or “will be free of errors, bugs or faulty code,” claiming that developers implement EOSIO at they own risk. In addition to the new software release, Block.one also announced today that they had partnered with blockchain investment firm SVK Crypto to launch a $50 mln fund to support the development of the EOSIO “ecosystem”.
And, As always — Weekly Crypto Charts to display market status:
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