In a week that saw the 10-year anniversary of the publication of the Bitcoin whitepaper, it’s difficult to view the other stories in this cryptocurrency news recap without considering their wider historical context. It’s been a truly explosive decade for emerging distributed ledger technologies (DLTs) and the decentralised digital currencies that are built on them. Each event of the past week can be examined in isolation or as a part of that continuum.
To coincide with the 10th birthday of the blockchain and cryptocurrency, a Joe Lubin-produced documentary, Trust Machine, was given its New York premiere last weekend and charts the irresistible rise of both revolutionary concepts. Also celebrating a recent birthday was the SEC’s Cyber Unit which turned one at the end of September. A report issued yesterday revealed that the commission had successfully prosecuted more than a dozen felonious initial coin offerings (ICOs) and had more in the the pipeline for 2019. Acceptance of crypto stateside has grown exponential since 2008, with even rank conservatives like Ron Paul now extolling its virtues.
The United Kingdom has been somewhat tardy in arriving to the legislative party but its Financial Conduct Authority (FCA) published an annual report on Tuesday which suggested that regulation is imminent. A more robust framework for the sale and issuance of cryptocurrencies should be adopted in the green and pleasant land early in the new year. Elsewhere, Iran continued its flirtation with blockchain tech when it issued its strongest indication yet that cryptocurrencies could be deployed to circumvent US-lead economic sanctions.
Commercially, the first ten years of Bitcoin’s short life have been turbulent to say the least, with 2017 proving particularly arduous for holders of all coins. However, the exchanges on which cryptocurrencies are traded have never had it so good. Bitstamp was sold for cash to a Belgian investment firm on Monday in a deal thought to be worth hundreds of millions of dollars whilst Coinbase, Binance and Bithumb continue to report eye-watering revenues.
Here at Tokenleak Towers we worry more about the tech than the markets though, so I’ll end this cryptocurrency news recap with that in mind. There are enough developments occurring across all the major platforms to keep us occupied well into the next ten years; this week saw Vitalik Buterin reaffirm his commitment to Ethereum, Zcash launched Sapling, a major new upgrade and IOTA announced its integration into the Ledger Nano S hardware wallet. Looking to the next decade we can know few things for sure but one certainty you can take to the bank (if there are any!) will be that where there’s crypto they’ll be a Tokenleak cryptocurrency news recap. See ya next Sunday!