Crypto in Press [2018-06-08] - US Universities Investing in Crypto, Crypto trading legal in Poland, BTC $15,000 in December and more

1. US Universities have Started Making Investments in Cryptocurrency

2. Poland affirmed that cryptocurrency trading is legal in the country

3. BITCOIN WILL APPROACH THE $15,000 MARK BY DECEMBER 2018

4. Alibaba Raised $ 14 Billion To Develop Blockchain Solutions

5. Virtual Currencies to Become “Part of the Economic Practices” of Al

6. LUCKCHEMY INKS PARTNERSHIP WITH KROWDMENTOR

7. Bitmain is Considering an Overseas IPO

8. Putin: Russia Should Explore Blockchain to Avoid Fin. 'Limitations'

9. 3 Luxury Apartments Sold for 420 BTC in the Coastal Region of Montenegro

1. American Universities have Started Making Small Investments into Cryptocurrency Hedge Funds
Academic institutions in the US have started making small investments into cryptocurrency hedge funds. According to John Lore lawyer working in the industry Universities around the world are increasingly interested in cryptocurrencies and the blockchain technology acknowledging the long-term potential of

2. Polish Financial Authority Says Crypto Trading Is Legal in Wake of Anti-Crypto Campaign

The financial watchdog of Poland has recently affirmed that cryptocurrency trading is completely legal in the country, according to an official announcement published on its website June 6.

In its recent move, the Polish Financial Oversight Commission (KNF) sought to clarify the status of cryptocurrencies and crypto trading, “recognizing the emerging legal doubts related to the functioning of exchanges and exchange offices.”

The Commission’s notice comes following the country’s ongoing orchestrated campaign against cryptocurrency use in the country.

In their most recent statement, the KNF said that entrepreneurs are not banned from crypto trading since there are “no regulations prohibiting trading [...] of cryptocurrencies.”

However, the financial authority noted that the government is focused on the development of regulatory framework for the market to prevent it from risks sometimes associated with crypto, such as money laundering, tax evasion, and terrorist financing.

The KNF mentioned that it is planning to introduce a regulatory system for Bitcoin (BTC) and altcoins that will be officially launched on July 13, 2018.

Last month, the KNF announced plans to conduct a social media campaign on the risks of crypto investments. Earlier, in mid-February, Poland’s Central Bank admitted that they had secretly funded a $27,000 anti-crypto campaign consisting of one YouTube video about a man losing all his money after investing in cryptocurrencies.

Source: https://cointelegraph.com/news/polish-financial-authority-says-crypto-trading-is-legal-in-wake-of-anti-crypto-campaign

3. With the middle of 2018 almost upon us, it has become incumbent on experts and commentators to offer revised Bitcoin price predictions. At the start of the year, the consensus was that the number one cryptocurrency would reach even greater heights. However, BTC prices have declined from its record-setting highs of $19,500 in mid-December 2017 to hovering around the $7,700 mark.

BITCOIN WILL APPROACH THE $15,000 MARK BY DECEMBER 2018
Finder, a financial comparison platform, released a Bitcoin forecast that said BTC prices would cross the $30,000 mark by December 2018. Six months into the year, the platform seems to have revised its predictions with a new report released in June. According to the latest forecast figures, Bitcoin will end the year trading at $14,638. This new figure predicts an almost 100 percent increase in BTC price based on its current trading value.

4. Alibaba Raised $ 14 Billion To Develop Blockchain Solutions

Ant Financial, a payment affiliate of the Chinese Internet giant Alibaba, announced the complete of the financing round C, in which the company managed to raise $ 14 billion for the further development of blockchain solutions.

The details of Ant Financial's road map for the development of blockchain solutions are still unknown. However, other promising areas of the company's activities include the Internet of Things and Artificial Intelligence...https://en.bit.news/alibaba-raised-14-billion-develop-blockchain-solutions/

5. United States Commodities Futures Trading Commission (CFTC) commissioner, Rostin Behnam recently gave a speech in which he predicted that “virtual currencies […] will become part of the economic practices of any country.” The CFTC commissioner predicted that cryptocurrencies will have a transformative effect in providing financial services to unbanked populations, and undermine corruption through increasing financial transparency.

“Cryptocurrencies Will Proliferate to Every Economy and Every Part of the Planet” – CFTC Commissioner, Rostin Behnam

Whilst speaking at the recent BFI Summit at the United Nations Plaza in New York, CFTC Commissioner, Rostin Behnam, expressed his belief that virtual currencies will be integrated into the economic practices of all nations.

Mr. Behnam stated that “virtual currencies may – will – become part of the economic practices of any country, anywhere. Let me repeat that: these currencies are not going away and they will proliferate to every economy and every part of the planet. Some places, small economies, may become dependent on virtual assets for survival. And, these currencies will be outside traditional monetary intermediaries, like government, banks, investors, ministries, or international organizations.”

Continue reading >> https://news.bitcoin.com/virtual-currencies-become-part-economics-practices-nations-cftc-commissione/

6. Forging strategic partnerships is an essential aspect of bringing great ideas to life. Which is why Luckchemy, the scalable and provably fair iGaming platform is pleased to announce its collaboration with KrowdMentor, a strategic investment and advisory firm empowering blockchain investors, funds, startups, and entrepreneurs.

A LITTLE BIT ABOUT KROWDMENTOR
KrowdMentor is the collective brainchild of Mike Costache and Brad Yasar. Together, the pair boasts more than 40 years of business experience, from investment banking to startup fundraising. Additionally, both co-founders are highly respected in the blockchain field and are considered international thought leaders. Aside from their collaboration at KrowdMentor, Mike Costache is the CEO of d10e while Brad Yasar is also the co-founder of Blockchain Investors Consortium (BIC).

7. Jihan Wu, co-founder of Bitmain, the world’s dominant manufacturer of cryptocurrency miners, said the company is pursuing an expansion which may lead to an initial public offering (IPO), maybe in Hong Kong, or in an overseas market with U.S. dollar-denominated shares, according to Bloomberg.

Bitmain’s famous Antminers sold for a few hundred to a few thousand dollars are usually snapped up in seconds after release by professional miners. In 2017, the company booked $2.5 billion of revenue last year and leaped to the second chip design company after Huawei’s Hisilion, rising quickly after its birth five years ago.

As per data, the Chinese company controls as much as 80% of the market of crypto mining gear, whose operating profit is similar to that of Nvidia’s.

The rapid rise of the company apparently sparked onlookers’ curiosity in the mysterious company and the self-made billionaire. Data shows that as of June 2015, Wu had a stake of 22.9% of the business and Micree Zhan 61%.

While in the latest interview with Bloomberg, Wu said he and co-founder Micree Zhan together own about 60 percent of the business, while more details of his net worth were declined, but said Bitmain is worth $12 billion.

Apart from mining hardware sales, the company also runs some of the biggest mining pools – BTC.com and Antpool which control over 40 percent of the world’s bitcoin hashrate, according to btc.com. For the concentration of mining power, Wu is called “Mining Monopoly (矿霸 in Chinese)”. Cobra of Bitcoin.org also recently tweeted that Jihan Wu could easily conduct a 51% attack on bitcoin.

8. The Russian government has taken a cautious approach to cryptocurrencies, president Vladimir Putin said during an annual "hotline" on Thursday.

Asked if Russia will have its own cryptocurrency one day, Putin said he doesn't see such an outcome as possible because cryptocurrencies "by definition are beyond the national borders."

While expressing that caution, he nonetheless admitted that cryptocurrencies are "developing in the world" and that Russia should explore the opportunities around the tech. Among the possible uses, he said, was to "avoid various limitations in global finance trade" – a suggestion that blockchain could help ease sanctions against Russian banks, companies and individuals imposed in recent years.

Putin also noted during the four-hour annual session that cryptocurrency mining – the energy-intensive process by which new transactions are added to a blockchain, with new coins being "minted" in the process – is not regulated, and similarly, cryptocurrencies are not recognized as legal tender within Russia.

The Russian president notably issued a series of mandates last year to Russian officials, calling for regulations around cryptocurrencies, including the country's domestic mining sector.

"Somewhere in Japan they are using it, but it doesn't work in other countries," Putin remarked on Thursday.

9. Three Luxury Apartments Sold for 420 BTC in the Coastal Region of Montenegro

This week three luxury apartments located in Budva, Montenegro sold for 420 BTC (3.2Mn USD) according to Notary Office and the firm Astra Montenegro Investment Association (AMIA). Furthermore, the AMIA has been successfully promoting the use of digital currencies in Budva and has convinced the neighboring Dukley hotel, Beach Lounge, and Marina to accept BTC.

Montenegro Real Estate, and Three Establishments Welcome Cryptocurrency Acceptance

Three apartments have sold in the region of Budva, Montenegro, a country located in Southeastern Europe. The luxury apartments were located near the coastal area on the Adriatic Sea and the region is well known for its tourism. According to AMIA executive Nila Emilfarba and the Notary Office, the living quarters were sold for approximately 420 BTC. The Dukley Gardens sale is also just part of Budva favoring digital currencies.

Emilfarba says the sale was the biggest so far for the country and the firm has been persuading merchants in Budva to accept digital currencies. In addition to being able to purchase real estate, Emilfarba and AMIA have also convinced the Beach Lounge restaurant, Dukley hotel, and the Dukley Marina to accept BTC as well.

“Our company, unlike many who have doubt in cryptocurrency, is the first in the region that started selling real estate for the cryptocurrencies,” explains the AMIA.

“We acquired brand new clientele — In the world, and especially in Europe, there is only a limited number of real estate that can be bought with BTC.”