Price Update:

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The Daily: Akon Launches Akoin

Akon, the Senegalese-American singer, is launching his own cryptocurrency token called Akoin. The stated purpose of the project is to build a futuristic city in Senegal that is meant to be a “real-life Wakanda”, referring to the fictional highly technologically advanced African nation featured in the recent Black Panther movie.

Speaking on a panel at Cannes Lions International Festival of Creativity, Akon explained: “I think that blockchain and crypto could be the saviour for Africa in many ways because it brings the power back to the people and brings the security back into the currency system. It also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down.”

According to the project’s website, the “100% crypto-based” Akon Crypto City is being built on 2,000 acres of land gifted to Akon from the President of Senegal. It’s within 5 minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal.

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EU Report Advises Regulators Not to Ban or Ignore Cryptocurrencies
A recent report published by the European Parliament advises policymakers and regulators not to ignore cryptocurrencies or attempt to ban them. It discusses how crypto should be treated, their taxation, as well as their potential impact on financial systems and central banks’ monopolies on money issuance...

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Florida CFO Advocates Creation of State “Cryptocurrency Chief”

The Florida Chief Financial Officer (CFO), Jimmy Patronis, has issued a statement calling for Florida’s government to create the post of “cryptocurrency chief” to provide greater oversight to the state’s emerging digital currency sector...

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Study: Crypto Could Become Mainstream Means of Payment Within Next Decade
A new study has found that cryptocurrencies like Bitcoin (BTC) have the potential to become a mainstream means of payment and already meet one of the three main criteria of money, according to an eToro press release July 9. The study mentioned in the press release was a joint effort by Imperial College and U.K. trading platform eToro...

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Opera Browser Introduces a Built-in Cryptocurrency Wallet.
The latest version of the Opera for Android, currently available in a private beta, introduces an easy-to-use and built-in cryptocurrency wallet functionality to the browser. This means that a significant part of Opera’s 322 million user base across all platforms would no longer need to install separate extensions to handle supported crypto payments on mobile devices...

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UK Mosque Collects Four Times More Donations in Crypto Than Fiat.
A British Mosque has collected four times more donations in cryptocurrencies than fiat, showing another example of the growing importance of the innovative instruments in charity. People from all around the world donated to the mosque using cryptocurrency during Ramadan, including one transaction of over £5,200...

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Change.org Launches Screensaver That Mines Crypto for Charity.
Social petition platform, Change.org, has announced the launch of a screensaver that mines Monero on behalf of the organization. “The Mining Screensaver” will pool the computing power of the program’s users, with all XMR generated being automatically transferred to the Change.org Foundation...

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Cryptos in Costa Rica Can Be Goods, Assets, Quasi-Money.

Workers in Costa Rica may soon start receiving a portion of their salary in cryptocurrency, local media reported. As far as Costa Rican law is concerned, there is no reason this cannot happen. The country’s legislation allows employers to partly remunerate their staff with goods that are not currency, as long as the legal minimum wage is paid in money. It also develops the concept of “quasi-money”, or any asset that can be used as a means of payment and has been widely accepted as such in the society...

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Indian Government-Appointed Commission Recognizes Crypto as Means of Payment
The law commission established by the order of the Indian government has issued a report recognizing cryptocurrency as a means of payment. This is reportedly the first time that a body appointed by the government admitted cryptocurrencies have value and can be used in transactions.

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South Korean Regulator Presses Lawmakers to Pass Crypto Bill Urgently
South Korea’s top financial regulator has urged lawmakers to pass the country’s first crypto bill quickly, citing the urgent need from rising incidents at crypto exchanges. There are currently several crypto-related laws pending at the National Assembly.

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Bitcoin Exchange Sponsoring Premier Soccer Club
English Premier League soccer club Wolverhampton Wanderers (Wolves) are playing their season with a first-of-its-kind left sleeve: cryptocurrency exchange Coin Deal’s logo. While plenty of other examples of the intersection between professional sports and cryptocurrency exist, the arrangement between the exchange and the Wolves is a fairly big step in bringing the crypto idea to a very mainstream audience.

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Japan Labor Ministry Confused as Crypto Salaries Demand Increased
Japan’s Labor Ministry is not hiding its confusion as the Tokyo Metropolitan Government and venture companies requested a deregulation of the Labor Standard Act. Japan has respected the “salaries in cash” principle for 70 years under the Labor Standard Act, however with the proliferation of digital money and salaries paid in cryptocurrencies, withdrawing money from a bank could increasingly be unnecessary, Nikkei reported...

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Bitcoin ATMs Now In The Thousands Around the World
Coinatmradar.com reports a milestone of the 3,500 threshold being crossed for bitcoin ATMs (BATM) installed across the globe. One of the goals behind bitcoin automated teller machines is ease of onboarding to the world of crypto. A bear market – a protracted Crypto Winter – appeared to slow BATMs’ placement. And for sure it just might have, but numbers remain relatively strong considering, with the greater worry among BATM operators being US federal regulations preventing innovation.

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Ecobank Report Finds Significant Presence of Crypto in 36 African Countries
A report published by the pan-African bank, Ecobank Transnational Inc., has found that despite cryptocurrencies exerting a notable presence in each of the 36 African countries in which the company operates, only South Africa and Swaziland have adopted a “generally favorable and permissive [regulatory] stance” pertaining to cryptocurrencies...

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Thai Central Bank Defends Cryptocurrencies
In the high-profile Thai crypto fraud case involving an actor, Thailand’s central bank has clarified that the fraud is not related to cryptocurrency trading, but a general misuse of money. Thailand has recently legalized seven cryptocurrencies, authorized seven crypto firms, and the Bank of Thailand has green-lighted commercial banks’ subsidiaries for crypto activities.\

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Apple Co-Founder: Crypto World “Like the Internet When it was Brand New”

“I like to keep up with things,” Steve Wozniak, 68, famed computer engineer and co-founder of Apple explained at the Chainxchange blockchain convention recently in an interview. “Bitcoin caught my attention. It had so many unusual aspects for any technology I had ever heard of. Nobody is really known to be the creator. It doesn’t have any centralized [component]. It’s based on mathematics. There’s a certain number of Bitcoin that can ever exist.”

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