Merry Christmas – Let’s Talk Regulation
December 24, 2021 / Unchained Daily / Laura Shin
Marathon Digital is expecting to increase its hashrate by 600% in 2023.
Meta’s incoming CTO is targeting “deep compatibility” with blockchain and Web3.
India’s crypto law might not be ready until May.
CoinShares execs are seeing retail investment beyond BTC and ETH.
Bitcoin miners generated $15 billion in revenue in 2021.
SHIB surged after a whale bought $136 million worth of the token.
Jack Dorsey’s unfollowing spree includes Marc Andreessen, Brian Armstrong, and Tyler Winklevoss.
SWIFT is planning to test how it could play a role in asset tokenization next year.
Adam White, Bakkt’s president, is stepping down.
Decentralized exchanges did $1 trillion in trading volume in 2021.
Elon Musk is still “pro-doge.”
- The SEC rejected Valkyrie’s and Kryptoin’s spot bitcoin ETF applications.
What Do You Meme?
A New Crypto-Specific Regulator?
Bloomberg reported that Senator Cynthia Lummis, the Republican senator from Wyoming and member of the Senate Banking Committee, is planning to introduce a crypto bill in 2022 that would set comprehensive standards for the industry – including creating a position for a crypto-specific regulatory organization.
A senior aide to Lummis said the bill would “provide regulators with clear guidance on which assets belong to different asset classes, offer protections for consumers, regulate stablecoins, and create a new organization under the joint jurisdiction of the Commodity Futures Trading Commission and the Securities and Exchange Commission to oversee the digital asset market.”
Lummis has been decidedly pro-crypto in the past. For example, in October, she disclosed a purchase of BTC worth between $50,001–$100,000. In addition, her Twitter profile picture featured Bitcoin “laser eyes” before. On Twitter, Lummis has already begun soliciting bipartisan support for the bill. ““Welcome bipartisan cosponsors! Please encourage your senator to reach out and consider it,” wrote Lummis.
- Nic Carter on proof of work:
- Multicoin’s Kyle Samani on why Ethereum DeFi has been underperforming:
- Amber Group’s Sandra Aleow on kickstarting her Crypto Twitter journey:
On The Pod…
Merry Christmas (Eve)! For this special episode of Unchained, three other crypto journalists and I discuss their favorite stories from the past twelve months, how they would grade crypto journalism in 2021, and what they are looking forward to covering in 2022. Show highlights:
what stories Michael, Michael, Jeff, and I will remember from a ~busy~ 2021
why 2021 is “clearly the biggest year” yet for the industry
how CoinDesk, Forbes, and Decrypt can improve their news coverage in 2022
what Michael, Michael, Jeff, and I think about all the negative energy directed at journalists from the crypto and tech space
how mainstream media can do a better job covering crypto
predictions for what the biggest stories of 2022 will be
My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now available for pre-order now.
The book, which is all about Ethereum and the 2017 ICO mania, comes out Feb. 22. Pre-order it today!
You can purchase it here: http://bit.ly/cryptopians