Here is a question on my mind this week: Where is all the institutional interest in crypto that we heard so much about in 2018? On Monday, news emerged that Jamie Selway, who was leading Blockchain’s Wall Street push, left the company after seeing low demand. And at Coinbase, the person hired to oversee the company’s institutional business, never actually started, as the exchange narrows its focus to attract large crypto investors, rather than financial institutions.
With laws pending that would cut the industry some slack from regulators, perhaps it was a bit too soon for that wave to materialize. The SEC is said to be pursuing another crypto enforcement case, this time against the messaging startup Kik, which raised $100 million in a high-profile ICO. On Capitol Hill, one lawmaker is weighing simplifying rules governing crypto, which we discuss more below. If passed, those laws could pave the way for bigger players to get involved.