North America: Crypto and Blockchain News Roundup, 1st to 7th June 2018

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North America: Crypto and Blockchain News Roundup, 1st to 7th June 2018

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Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.


Dennis Rodman’s trip to North Korea-US Summit possibly sponsored by Potcoin: Cryptocurrency platform PotCoin has announced that it is planning to sponsor the trip of Dennis Rodman to this month’s crucial US-North Korea moot in Singapore according to a PotCoin spokesperson.

While the news may seem incredulous, PotCoin has already sponsored him before in a previous trip to the secret country back in 2017 where only a handful of Americans are allowed to enter each year. According to Dennis Rodman, he is willing to go to Singapore to provide moral support for Donald Trump and Kim Jong-un.

Financial regulator says crypto will proliferate to every economy: A commissioner at US Commodities and Future Trading Commission (CFTC) has said that cryptocurrencies are likely to proliferate to economies around the world.

Rostin Benham, the said commissioner called cryptocurrencies a “modern miracle” and “cryptocurrencies will proliferate to every economy and every part of the planet”.

The CFTC declared Bitcoin a commodity as early as 2015 and has since then played a positive role in the regulatory efforts towards cryptocurrencies. Many small economies could also become dependent on cryptocurrencies to exist because of problems in central banking.

John McAfee to run for president based on pro-crypto platform: John McAfee, a leading cryptocurrency protagonist has said announced that he will be running for president in the 2020 US presidential election based on a pro-crypto platform.

In a tweet this week, the outspoken crypto enthusiast said:

“In spite of past refusals, I have decided to again run for POTUS in 2020. If asked again by the Libertarian party, I will run with them. If not, I will create my own party. I believe this will best serve the crypto community by providing the ultimate campaign platform for us.”

It is natural for crypto enthusiasts to run from the Libertarian platform because cryptocurrency is based on a free market model. The responding Twitterati generally held a positive view for him in response.

Steve Wozniak prefers Bitcoin to all other crypto: Apple co-founder and innovator Steve Wozniak has said that he is excited about Bitcoin more than any other cryptocurrency and hopes that it becomes a global cryptocurrency of the future.

Wozniak made these comments during a CNBC interview on 4 June at the Money 20/20 conference in Amsterdam. He also predicted a massive hike in price for Bitcoin in the future.

Google set to ban all cryptocurrency ads from this month: Google is going to ban all cryptocurrency related adverts from its vast ad network by the end of June 2018 according to a financial products policy releasde by the tech giant.

Google initially wanted to ban all ICOs only but the ban will now encompass all cryptocurrency products including legal cryptocurrency exchanges, wallets and crypto trading and futures services. This massive ban is seen as a negative development for the future of the cryptoverse.

New York legislators deliberating over crypto task force: New York is looking to follow the footsteps of places like the United Kingdom by setting up a cryptocurrency task force according to the latest bill presented in the state legislature.

New York’s already tough laws for cryptocurrency startups mean that it is difficult for startups to get registered in the financial capital of the world as it battles several issues of its own. The task force will eventually submit its finding to the working committee in the near future after completing extensive studies.

The bill also states a requirement to review the current situation and reads: “laws and regulations on digital currency used by other states, the federal government, foreign countries, and foreign political and economic unions to regulate the marketplace.”

A nine-member team will be established for this purpose and will work directly under the governor for the investigation.


Quebec halts crypto mining projects and deliberates over increased power fees: The Canadian state of Quebec has announced that it is halting new mining operations in its area according to latest news reports from Reuters.

The decision comes after a cryptocurrency mining boom in the province because of lower power tariffs. But the increased mining operations resulted in the state electricity consumption increased dramatically and caused concern among government quarters. The Quebec government also announced that it is limiting power to all existing crypto miners as well as planning to increase electricity prices for mining operations.


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