Illustration: Rebecca Zisser/Axios

The industry got a big win with Colorado's election of congressman and blockchain tech advocate Jared Polis as its new governor, but that's not all the news this week.

Catch up quick: A Securities and Exchange Commission official says "plain English" guidance on initial coin offerings is coming; Bitfury raised $80 million in new funding; and the SEC could target more token exchanges after EtherDelta.

SEC official says 'plain English' guidance on ICOs is coming (CoinDesk)

  • Why it matters: Speaking at a conference in D.C. this week, William Hinman, the SEC's director of corporation finance, gave cryptocurrency industry the news it's been waiting for a long time. Despite a growing number of enforcement actions against fraudulent or otherwise illegal digital token sales and initial coin offerings, the agency has yet to spell out exactly what counts as a securities sale.

Bitfury raises $80 million in new funding (Bitfury)

  • Why it matters: The company, which sells cryptocurrency mining hardware, was reportedly considering an IPO, which would have made it the first of the industry in Europe. One of its competitors, Bitmain, filed to go public in late September and could raise up to $3 billion from the offering. And despite the initial coin offering mania of the last two years, it looks like more traditional businesses selling infrastructure tools are currently best suited for the public markets.

Expect the SEC to target more token exchanges after EtherDelta (CoinDesk)

  • Why it matters: EtherDelta is the first digital currency exchange the SEC has gone after, though chairman Jay Clayton has long voiced his concerns about their lack of protections for investors. Another notable aspect of EtherDelta is that it's a so-called "decentralized exchange," which uses distributed systems to create its exchange. The SEC’s action signals that these exchanges won't be spared, and the agency will figure out who to hold accountable.

Go deeper

Uber CEO proposes "benefits funds" for gig workers

Uber CEO Dara Khosrowshahi. Photo: Scott Heins/Getty Images)

Uber CEO Dara Khosrowshahi called for establishing "benefits funds" for gig workers in a New York Times op-ed out Monday.

Why it matters: Gig workers, who remain independent contractors and not employees, have long pushed companies like Uber for benefits comparable to those received by traditional workers. The coronavirus pandemic and its resultant economic strain has broadened those calls.

Trump tries to set a tax trap for Biden

Photo: Jim Watson/AFP via Getty Images

President Trump is trying to lure Joe Biden into a Walter Mondale trap — attempting to force the Democratic nominee to embrace middle-class tax increases as part of his election strategy.

Why it matters: With his Saturday evening executive action to unilaterally rewrite the tax code, Trump again is demonstrating the lengths to which he’ll go to change the conversation — and try to make the election a choice between him and Biden, and not a referendum on him.

Tech's reluctant road to taking on Trump

Illustration: Eniola Odetunde/Axios

The coronavirus pandemic, Black Lives Matter protests and a looming election have brought long-simmering conflicts between tech platforms and President Trump to a boil, as Facebook, Twitter and other services are starting to take presidential misinformation seriously.

What's happening: Wary of becoming arbiters of political speech, tech's platforms have carved out a range of exceptions and immunities for Trump and other political leaders — but that accommodation is coming undone.