@cryptocracy 23 March 2022 more from that month

Why Vitalik Buterin Says Crypto is Going Dystopian Is Ethereum **winning the blockchain race**? Many analysts think so. Founder Vitalik Buterin, however, is critical of the way cryptocurrencies are being used—specifically with regard to NFTs. He sees a **dystopian future**. The sad reality is Ethereum itself is the leading NFT platform and Buterin says that’s **not what the blockchain was built for**. One little tweak, says *Fortune*, is all it will take to **fix Ethereum’s pollution problem** and end NFT minting on the platform for good. Meanwhile, Bored Ape Yacht Club creator Yuga Labs has **raised $450 million** for its NFT metaverse project. *Here’s the thing: when it comes to building things, it doesn’t matter what creators envision. When users show up, they have their own ideas. And there’s nothing wrong with that. Of course, I’m not defending pollution.* https://www.afr.com/chanticleer/ethereum-winning-the-blockchain-race-20220322-p5a6tt https://www.cnbc.com/2022/03/22/ethereum-founder-vitalik-buterin-worries-about-future-of-crypto.html https://cryptopotato.com/this-is-not-what-ethereum-is-built-for-vitalik-buterin-slams-bayc/ https://fortune.com/2022/03/22/ethereum-is-one-step-closer-to-solving-a-major-criticism-and-beating-bitcoin/ https://www.theverge.com/2022/3/22/22991272/yuga-labs-seed-funding-a16z-bored-ape-yacht-club-bayc-metaverse-other-side New York is considering legislation that will **ban proof-of-work mining** for two years. *They wouldn’t seriously kill bitcoin, would they?* https://www.coindesk.com/policy/2022/03/22/bitcoin-mining-ban-bill-makes-it-out-of-new-york-state-assembly-committee/ Is XRP the **future of central banking**? **(A must-read)**. **Multichain has added XRP** to connect with EVM blockchains. In the past week, XRP was the **big winner in inflows**. *Whether XRP emerges as the standard in central banking depends on the adoption of central bank digital currencies (CBDCs)—and the ongoing SEC vs. Ripple lawsuit, of course.* https://seekingalpha.com/article/4497032-profit-with-xrp-token-from-ripple https://bitcoinist.com/xrp-added-multichain-connect-with-evm-blockchains/ https://dailyhodl.com/2022/03/22/institutions-going-for-xrp-polkadot-and-one-ethereum-competitor-as-war-jitters-continue-to-spark-uncertainty-coinshares/

If you thought NFTs were crazy, take a look at **how they’re taxed**. Anti-NFT legislation could **threaten financial rights**, says The Heritage Foundation. **(BOTH OF THESE ARE MUST-READS)** https://www.politico.com/news/2022/03/22/like-grabbing-smoke-crypto-collectibles-confound-taxpayers-00017779 https://www.heritage.org/government-regulation/report/revolution-if-we-can-keep-it-how-anti-nft-regulations-threaten Are CBDCs **about surveillance**, or something else? https://www.wsj.com/articles/surveillance-risks-shape-how-central-banks-test-digital-currencies-11647941400 Will DAOs, the Metaverse, and NFTs merge for an **incredible Web3**? **(Disclosure: I wrote this and Gokhshstein Media was gracious enough to publish it. It’s been trending for two days)**. Someone else asks is Web3 a decentralized **utopia or dystopia**? https://www.gokhshteinmedia.com/article/will-daos-the-metaverse-and-nfts-merge-for-a-better-web3 https://www.cmswire.com/digital-experience/web3-crypto-a-decentralized-utopia-or-dystopia/ Ukrainian crypto exchange founder **accuses Binance** of supporting Putin. In Columbia, citizens **take legal action** against Binance for blocking their accounts. https://beincrypto.com/ukrainian-crypto-exchange-founder-says-binance-is-supporting-putin/ https://news.bitcoin.com/colombians-take-legal-action-against-binance-for-blocking-their-funds/ The Edmonton Public Library has lent the **first book NFT** in history. https://globalnews.ca/news/8700930/epl-edmonton-author-book-non-fungible-token-todd-babiak/ One architectural firm is laying plans for a **libertarian city inside a metaverse**. Architecture and engineering is one of the 5 industries *Forbes* says will be **transformed by the metaverse**. And if you’re still wondering what the metaverse is, **here’s everything you need to know** (watch the video below). https://www.cnn.com/style/article/liberland-metaverse-city-zaha-hadid-architects/index.html https://www.forbes.com/sites/forbestechcouncil/2022/03/22/five-industries-that-will-be-transformed-by-the-metaverse/?sh=55eb111e4e40 https://www.youtube.com/watch?v=7DEVfUk2zCk https://youtu.be/7DEVfUk2zCk Brookings tells mayors that **cryptocurrencies won’t solve** all their cities’ problems. https://www.brookings.edu/blog/the-avenue/2022/03/22/mayors-cryptocurrency-wont-solve-your-cities-problems/ **10 questions** about crypto in 2022. *Why are half of them about regulations?* https://fintechmagazine.com/crypto/top-10-facts-about-cryptocurrency-and-bitcoin-in-2022 El Salvador has **postponed its bitcoin bonds** until September. https://cointelegraph.com/news/el-salvador-postpones-bitcoin-bonds-to-september-report **Are lobbyists peddling lies** about cryptocurrencies? *Do birds have feathers?* https://coingeek.com/lobbyists-continue-to-peddle-lies-about-digital-currencies-as-big-money-flexes-in-washington/ Coinbase is **launching Coinbase Pay** to make it easy to buy NFTs. Coinbase Ventures is **throwing seed money** at Block Tackle, a metaverse gaming platform. Meanwhile, Coinbase Cloud allows Avalanche developers **a way to build**. https://dailyhodl.com/2022/03/22/coinbase-introduces-new-platform-that-allows-users-to-buy-nfts-and-access-defi/ https://www.coindesk.com/business/2022/03/22/animoca-coinbase-ventures-back-5m-seed-round-for-metaverse-gaming-studio-block-tackle/ https://blog.coinbase.com/participate-and-build-on-avalanche-with-coinbase-cloud-f11414a3dbd3 KuCoin has seen a 2,500 percent increase in **crypto transactions in Africa**. https://www.tronweekly.com/reports-state-2500-hike-of-african-crypto-users/ What are the most-polluting cryptocurrencies? Forex Suggest has **ranked them**. https://forexsuggest.com/global-impact-of-crypto-trading/

The Bank for International Settlements has **developed a prototype** for cross-border digital currency settlements. https://www.theepochtimes.com/international-bank-develops-prototype-for-cross-border-digital-currency-settlement-platform_4354587.html The National Football League is going to let teams **pursue blockchain sponsorships** while continuing to ban cryptocurrency sponsorships. https://www.cnbc.com/2022/03/22/nfl-lets-teams-blockchain-sponsorships-crypto-ban.html **4 things you can do** right now to prepare for crypto regulations. https://time.com/nextadvisor/investing/cryptocurrency/crypto-investors-prepare-regulations/ An Australian senator says DAOs are an **existential threat to the tax base**. He wants to **regulate DAOs**. https://decrypt.co/95579/australian-senator-dao-existential-threat-tax-base https://forkast.news/headlines/australia-regulate-dao-proposal/ As usual, *snark and commentary in italics*. Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. *First published at* *Cryptocracy**. Not to be construed as financial advice.* https://cryptocracy.substack.com/p/is-ethereum-winning-the-blockchain?s=w **Image credit:** Crypto pollution, Forex Suggest