The cryptocurrency industry has been flourishing over the last few years, but is now coming under increased scrutiny from regulators. Here’s the bullet point news for the busy and go-getters.

• China banned all cryptocurrency activity. The major appeal to cyrptocurrency has always been the fact that it’s unregulated and decentralized. Basically meaning no government can own or regulate it. China said, “Not in my house!” and will consider any involvement to be illegal.

• The SEC has declared that they have no intention of banning cryptocurrency but expressed once again that they worry about the lack of regulations surrounding the currency. While they repeatedly state that they don’t see the value in it, they state that they’re worried that investors will get hurt. As you can imagine, we are all touched by their concern.

• The Infrastructure bill, that is being debated and voted on, includes the ability to apply wash-sale rules to cryptocurrency and to require all brokers to report the crypto activities of their customers to the IRS. What does this mean? Stricter monitoring of cryptocurrency gains.

• The blockchains used in the creation of cryptocurrency have proven to be very valuable in the world of virtual reality and NFTs. This isn’t exactly new information but we’re seeing an unprecedented growth in NFT Art and virtual realities like Decentraland. It’s opened a whole new world to the art community.

As promised, I’ve kept it short and sweet. It’s a great time to be alive…. and – if you’re into crypto – it’s great not to be in China right now.