If you want this weekly update in your inbox every Saturday, click here to become a subscriber. Also: Against Cryptocurrency: The Ethical Argument for Bitcoin Maximalism CHINA'S CRYPTO BAN SENDS TRADERS FLOCKING INTO DEFI Last Friday, China reiterated a sweeping ban on digital asset transactions—one of many regulatory actions against the industry issued by the country in recent years. Yet the details of the announcement suggest the measures may be more stringent this time. More than ten government bureaus and institutions co-signed the edict, closing loopholes left in previous clampdowns on the sector. A handful of cryptocurrency service providers, including...