The month of April is about to end, and it has been a mostly positive, if wild, ride for the cryptocurrency markets. The major news this week was that the Nasdaq stock exchange announced a partnership with the Gemini crypto exchange to work on a blockchain ETF. Nasdaq's CEO Adena Friedman implied that the exchange might be open to trading crypto in the future.

Here is crypto's week in review:

First, three Chilean crypto exchanges won a lawsuit against three banks. Earlier this month, Buda, Orionx, and CryptoMarket appealed its lawsuit against Itau Corpbanca, Bank of Nova Scotia, and Banco del Estado de Chile after the banks unexpected closed the exchanges' bank accounts. Chile's appeals court reportedly issued a court order for the banks to reopen the exchanges' accounts. The outcome is a victory for crypto users in Chile.

China is continuing the crackdown on crypto it began last year. In order to maintain its infamous capital controls, the Chinese government has taken a series on increasingly prohibitive steps. On Monday, Chinese authorities announced that the country had successfully shuttered ICOs and would keep cracking down on online fundraising activities deemed illegal. Finally, China has begun to target Chinese crypto traders by monitoring their bank accounts and assets.

A debate is brewing within the crypto community about journalistic ethics. The spark was a controversy between Ethereum (ETH) cofounder Vitalik Buterin and a CoinDesk article about an Ethereum Improvement Proposal. The debate has since expanded in scope to include conference fees, disclosure of conflict of interests, complicity in scams, and journalistic integrity. Whether the debate reaches a consensus or not, it is arguably a needed one.

The country of Malta recently introduced three bills to create a regulatory framework for ICOs and crypto transactions. The bills would make it easier for banks to do business with crypto companies. The parliament secretary stated that the regulations will protect investors and provide market integrity. With major exchange Binance planning to establish a base in Malta, the country is set to become an island of blockchain innovation.

Former PayPal (PYPL  ) CEO Bill Harris remains anti-crypto. In a CNBC interview today, he claimed that crypto traders are "drinking the Kool-Aid." Though Harris believes in digital money, he does not believe in the need for a new currency, and though he likes the idea of blockchain, he does not think cryptocurrencies are necessary.

Finally, ICOs might be replaced by something new - STOs, or security token offerings. STOs aim to be regulated, legal means of crypto fundraising. Unlike ICOs, STOs must be backed by something tangible, like a company's assets, revenue, or profit. Overstock (OSTK  ) CEO Patrick Byrne is a big fan of the STO. This week, auto startup Elio Motors, with an investment from Overstock, announced the launch of ElioCoin, a STO, to help fund production. As the SEC continues to regulate ICOs as securities and prosecute fraud, the STO could become an interesting fundraising mechanism for U.S. companies.

The author does not hold any positions in any of the securities above.