#CryptoCorner: Market Recovers Modestly, LINE Announces $10 Million #Token Venture Fund and Lists #TRON, Venezuela to Make PTR Official Unit of Account and South Korea No Longer Classifies #Crypto as Venture Enterprise
#CryptoCorner: Market Recovers
Modestly, LINE Announces $10 Million #Token Venture Fund and Lists #TRON,
Venezuela to Make PTR Official Unit of Account and South Korea No Longer
Classifies #Crypto as Venture Enterprise
August 15, 2018 CryptoCorner and Podcast sponsored by Crypto payment
tech, #Flip @FlipToPay ($NXTD) and #AI, #IoT, #Blockchain, #Crypto Technology Company
Gopher Protocol (OTCQB: $GOPH), GBT a powerful #cryptocurrency
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Point Roberts, WA, Delta BC – August 15, 2018 - Investorideas.com, a leader in crypto and
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Crypto Corner August
15, 2018
Market Recovers Modestly, LINE Announces $10 Million Token Venture Fund
and Lists TRON, Venezuela to Make PTR Official Unit of Account and South Korea
No Longer Classifies Crypto as Venture Enterprise
The crypto market has seen a bit of a recovery
since yesterday, with the total market capitalization having increased $14
billion USD to $205 billion USD at press time. Just about every coin listed in
the top 100 by market capitalization on CoinMarketCap is in the green with Bitcoin (BTC) currently
trading at $6362 USD and accounting for 53.5 percent market dominance.
Japan’s LINE Corporation announced today
the establishment, through its subsidiary, of a corporate token venture fund
called ‘Unblock Ventures’. The fund has a capital commitment of $10 million USD
which aims to “boost the
development and adoption of cryptocurrencies and blockchain technology”.
Additionally,
LINE’s recently-launched crypto
exchange platform, BITBOX, announced the listing of TRX, the native token of
the TRON platform . According to the release, TRX is the first coin to be
approved by BITBOX’s open-listing committee. To celebrate the listing, BITBOX
will airdrop 10 million TRON tokens to users until August 22.
ABC International reports that
Venezuela will use their oil-backed cryptocurrency, Petro (PTR), as an official
unit of account. In a televised speech, president Nicolás Maduro said that the
state oil company, Petróleos de Venezuela (PDVSA), would begin using Petro as a
unit of account, beginning on August 20. Maduro reportedly said the change
would mean a "new salary system and a new pricing system for goods and
services anchored to petro". ABC International quotes Maduro on the
intended effect of this change:
"This
will mean a substantial improvement in the income of the workers" and will
make "the maximum retail price to reappear.”
South Korea’s
Ministry of SMEs (small and medium-sized enterprises) and Startups issued a press release on Monday
stating that crypto exchanges would no longer be legislated as venture
businesses. A rough translation cites problems resulting from speculation and
the resulting volatility as impetus for the change in classification, but makes
clear that the ministry does not intend to regulate the sector:
“The Small and
Medium-Sized Venture Business Department has no intention to regulate the
cryptocurrency transactions and ICOs, but as the social
Sam Mowers, Investorideas
Crypto Corner Sponsors:
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