Breakingviews - Data could help save crypto’s image

Chainalysis, a blockchain analytics firm that helps snuff out shenanigans in crypto, is laying off almost 5% of its roughly 900-person staff as part of a pivot to focus more on public-sector clients. Government entities including the U.S. Securities and Exchange Commission account for 60% of the firm’s revenue, and U.S. agencies currently have at leastwith Chainalysis. But a string of bankruptcies in the business has clients cutting back on spending – and some disappearing completely.

While Chainalysis, backed by GIC, says it plans to grow overall headcount in 2023, the cuts are the wrong sign for those who use its services. Berkshire Hathaway’s

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Breakingviews - Britain kicks crypto when it’s downPolicymakers wrestling with how to regulate cryptocurrencies face a big initial question: does the industry need bespoke rules or would ones already on the books do the job? Britain’s answer, unveiled by Financial Services Minister Andrew Griffith on Wednesday, is that the existing framework suffices. The government intends to regulate the digital assets using the Financial Services and Markets Act of 2000, legislation applied to the City of London. By comparison, the European Union is introducing the dedicated Markets in Crypto-Assets, or MiCA, while some U.S. senators floated a similarly tailored proposal. Hahah
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