Weekly Update #163

Weekly Update #163

[ul][li]Reports have surfaced that Cryptsy is now under investigation by US federal agencies. Although we object to any criminal activity alledgedly happening within that exchange operation, it would appear that the targets are all exchanges dealing with cryptocurrencies. Maybe the real goal is to eventually cut the link between cryptocurrency and fiat?[/li]
[li]Cryptsy was one of the exchanges trading both peercoin and primecoin. Our users be advised.[/li][/ul]

Take care!

I wouldn’t be too surprised to learn that US government would like to push fiat to crypto currency gateways into a few highly regulated institutions.

In an interview with someone working for MoneyGram I learned that many money transmission operations around the world, have been shutdown because of ties to US. Crypto currencies having the properties they have, I don’t see why fiat to crypto exchanges would be any different.

I’m certain they want a small set of on- and off-ramps, so they can keep track of who is going what to whom and to make sure the space is as regulated as can be.

I used to think that “mainstream adoption” was all about getting people to use crypto currency. Today I think mainstream adoption is unavoidable, it is going to happen sooner or later. The on- and off-ramps are kind of not so interesting. The really cool things I see happening in the crypto currency space itself. Peershares forks such as BCE and NuBits serves as good examples. Then we have a whole range of other crypto-powered inventions. Once inside the crypto space, the fiat world seems kind of dull and so last century.

At least for now we’re safe until the 5th of November, when the last auction for the stolen Ulbricht’s coins will occur.

After declaring BTC as asset by the US i doubt they will do anything to harm their taxed businesses :stuck_out_tongue:
As long as they have profit by it at least.
Unless Sunny has something else in mind, the total replacement of fiat by plastic-electronic money :wink: