In crypto-world, some weeks are full of fireworks and others are what I like to call “building weeks”. This past week has been a building week - no big flashy and exciting news or wild price swings, but steady progress behind the scenes to move crypto technology forward. In addition to technological advancements, we’ve seen regulatory changes as well, and not all of them have been positive. While Western regulators continue to signal generally positive “wait-and-see” approaches, China has clamped down hard and fast on any and all Bitcoin/blockchain activity, going so far as to require executives in the industry to stay in the country. Bitcoin miners, which control 70%+ of mining power on the Bitcoin network, are said to be “expecting the worst”.
Special programming note: I will be traveling next week. Crypto Brief will resume on Thursday, October 5th.