This week in crypto: you have elected the way of pain

Harry Hamburg -

After a quiet summer, crypto is really kicking into gear this autumn.

This week alone (sorry in advance for all the acronyms):

  • The US Securities and Exchange Commission (SEC) has claimed ownership over the entire Ethereum network.
  • The US Commodity Futures Trading Commission (CFTC) has sued a Decentralised Autonomous Organisation (DAO) – which should, in theory, be impossible.
  • The White House has outlined its plan to regulate crypto.
  • PayPal has banned numerous “free speech” organisations from using its network (this is why we need crypto).
  • Lebanese bank robbers have been hailed as heroes for robbing banks to get their own money out (this is why we need crypto).
  • Estonia has approved a crypto bank.
  • The SEC’s $1.3bn lawsuit against Ripple has reached a turning point, sort of.
  • IOTA will launch its Shimmer network on the 28th of September (this Wednesday).
  • Radix is also launching its Babylon Alphanet (which has smart contracts in its scrypto programming language) on the 28th of September.
  • Oh, and nobody knows where Do Kwon is (the guy who created Terra Luna – remember the Terra Luna Catastrophe?)

As Maximus Decimus Meridius would say…