How Hyperliquid Unlocks 24/7 Markets | Jake Chervinsky & MC Lader
This week, Jake Chervinsky & MC Lader join the show to discuss the growth of Hyperliquid in 2026 and beyond. We deep dive into Hyperliquid's 24/7 markets thesis, how Native Markets won the USDH proposal, founding the Hyperliquid Policy Center, regulation in 2026 and more. Enjoy!
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Follow MC: https://x.com/Mclader
Follow Jake: https://x.com/jchervinsky
Follow Santi: https://x.com/santiagoroel
Follow Empire: https://x.com/theempirepod
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Join us at DAS (Digital Asset Summit) in New York City this March! Follow the link below to grab your ticket, and use code EMPIRE200 to get $200 off your ticket!
https://blockworks.co/event/digital-asset-summit-nyc-2026
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ZKsync is the Bank Stack of Ethereum. It is a network of chains secured by cryptography, not validators. Its cutting-edge ZK innovation enables the privacy, performance and connectivity that businesses need to thrive in the digital assets economy.
To find out more visit: https://www.zksync.io/
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Timestamps:
(00:00) Introduction
(02:45) The Hyperliquid 24/7 Markets Thesis
(06:02) Founding The Hyperliquid Policy Center
(15:45) The State of DeFi Regulation
(18:59) ZKsync Ad
(19:34) The Hyperliquid USDH Proposal
(29:59) Stablecoin Regulation In The US
(38:05) The Hyperliquid 24/7 Markets Thesis
(44:40) The Future of Stablecoins
(57:53) Crypto Regulation In 2026 & Beyond
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, Rob and our guests may hold positions in the companies, funds, or projects discussed.
Roman Storm Verdict: A Turning Point for DeFi | Jake Chervinsky & Amanda Tuminelli
Jake Chervinsky and Amanda Tuminelli join us to unpack the Roman Storm verdict—what it means for DeFi, why Section 1960 is a looming threat to open-source developers, and the strong grounds for appeal.
We discuss the legal, political, and legislative paths forward, the role of Congress in protecting developers, and how the crypto industry can mobilize to prevent future prosecutions.
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------
TIMESTAMPS
0:00 Intro
0:24 Verdict First Impressions
4:22 Was it Successful?
6:26 Second Trial?
9:47 Money Transmitter Debate
15:20 Optimistic Setup?
19:56 Levels of Precedent
26:04 What’s Next?
30:26 Crypto Industry Agency
34:01 Regulatory Acts
37:33 Two Paths
44:35 Trump Administration
49:02 Upcoming Administrations
53:45 Call to Action
56:55 Closing & Disclaimers
------
RESOURCES
Jake Chervinsky
https://x.com/jchervinsky
Amanda Tuminelli
https://x.com/amandatums
DeFi Education Fund
https://www.defieducationfund.org/
Fund Roman Storm
https://freeromanstorm.com/
Fund Alex Pertsev
https://juicebox.money/v2/p/713
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Under the First Crypto President, What Will Regulation of the Industry Look Like? - Ep. 747
With Paul Atkins as the incoming SEC Chair, David Sacks as the AI & Crypto Czar, and potential CFTC leadership changes, the Trump administration is signaling a major shift for crypto, AI, and financial regulation.
Guests Mike Selig and Jake Chervinsky break down what this means for token launches, enforcement actions, inter-agency collaboration, and the fate of Operation Chokepoint 2.0. Could this mark the end of the U.S.’s regulatory hostility toward innovation?
Show highlights:
02:18-What changes to expect under an Atkins-led SEC
08:58-Who could lead the SEC in the period between Gensler resigning and Atkins assuming
11:54-Whether the Democrats will nominate SEC Commissioner Crenshaw again
15:50-Elizabeth Warren's influence on the non-Republican SEC commissioner picks
23:39-Whether Atkins’ leadership at the SEC might shift crypto regulation away from aggressive enforcement
28:26-Whether Gensler’s recent promotion of people in enforcement roles will further his SEC’s regulation-by-enforcement strategy
38:52-Whether the SEC and Coinbase will reach a settlement
41:47-Why Mike and Jake think it’s not likely that the SEC will pursue litigation in the Ripple case
46:03-How the SEC might clarify securities laws around token sales, airdrops, and exemptions
55:14-Whether Atkins’ leadership could fast-track Hester Peirce’s Safe Harbor
59:53-How the CFTC's potential lead on crypto regulation might redefine how it splits duties with the SEC
1:03:03-Whether it even makes sense to have two financial regulatory agencies
1:11:00-Who might lead the CFTC
1:13:59-Why Jake and Mike believe combining AI and crypto under one ‘czar’ makes sense
1:20:31-How the appointment of Scott Bessent for Treasury secretary will affect the crypto industry
1:25:47-How the likely end to Operation Chokepoint 2.0 will create a “sea change”
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Polkadot
Robinhood & Arbitrum
Kelp DAO
Guests:
Mike Selig, Partner at Willkie Farr & Gallagher
Previous appearance on Unchained: Is Gary Gensler on a Mission to Put Crypto Down for Good?
Jake Chervinsky, Chief Legal Officer at Variant
Previous appearances on Unchained:
The US vs. Crypto: Jake Chervinsky on Crypto's Legal and Regulatory Status
Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress
The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility
All Things Crypto Regulation With Jake Chervinsky
Everything You Need to Know About the Looming Battle Over Privacy in Crypto
Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky
Links
Trump’s Office Picks:
Unchained:
Why Trump’s SEC Chair Pick, Paul Atkins, Is So Positive for Crypto
David Sacks as A.I. & Crypto Czar? Why the Industry Was Surprised
Trump Taps Paul Atkins for Next SEC Chair, Making Good on His Crypto Promises
Democratic SEC Commissioner Is Stepping Down, but That Doesn’t Mean Trump Will Get 2 Outright Picks
Trump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary
A Degen Administration? Why the Crypto Czar May Be Allowed to Own Tokens
Tracking Trump’s Cabinet and Staff Nominations
Congressional Results
John Reed Stark’s tweet:“current SEC Chair Gary Gensler is quietly working behind the scenes to lead the SEC from the grave”
Operation Chokepoint 2.0
Forbes: How ‘Debanking’ Tech And Crypto Companies Could Kill Businesses
Marc Andreessen and the CFPB: Debunking the Debanking Debunkers by Nic Carter
Unchained: Regulators Are Limiting Banks Serving Crypto Clients. Does That Violate the Law?
Unchained: Killed By Politics, Ex-Diem Boss Says of Meta’s Stablecoin
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Is DeFi Illegal Now? Tornado Cash Case Update | Jake Chervinsky
Today Jake Chervinsky is back on the podcast to discuss Tornado Cash developer Roman Storm's court case and its implications on DeFi and the crypto industry. Could DeFi be made illegal in the United States? Are DeFi developers going to be prosecuted if criminals use their code? Is it just DeFi? What other sectors could be at risk? The answers to these and many other questions are discussed in today’s episode.
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------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/75?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E
------ TIMESTAMPS 0:00 Intro 4:44 Roman Storm’s Case 12:52 Is DeFi at Risk? 18:20 The Ruling & Its Implications 21:29 Money Transmission Explained 25:52 Roman Storm’s Arrest 30:54 Are All DeFi Protocols At Risk? 36:17 Prosecution of Privacy 43:11 What This Ruling Means & What’s Next 48:41 Best & Worst Case Scenario 53:11 Other Sectors At Risk 57:35 Other Cases 1:03:48 Totalitarian Nightmare 1:08:21 SEC Updates 1:12:00 US Election 2024 1:17:30 Geofencing 1:23:21 Are We Winning & Conclusion ------ RESOURCES
Jake Chervinsky https://x.com/jchervinsky
Jake Chervinsky’s Tweet https://x.com/jchervinsky/status/1839412423096467753
A Practical Guide to Geofencing https://variant.fund/articles/practical-guide-to-geofencing/
Defend Roman Storm https://juicebox.money/@defend-roman-storm
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
The US vs. Crypto: Jake Chervinsky on Crypto's Legal and Regulatory Status - Ep. 635
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Jake Chervinsky, chief legal officer of Variant, discusses the current state of crypto regulation, touching on several ongoing legal and regulatory issues in the crypto space, including Uniswap’s Wells notice, the Coinbase case, the Tornado Cash case, the Ethereum Foundation investigation and more. Chervinsky argues that the government's approach to these cases is often misguided, particularly in instances where they hold software developers liable for how third parties use their software. He also discusses the potential implications of the government's case against Tornado Cash, suggesting that it could have far-reaching consequences for all open-source software developers.
Chervinsky also delves into the SEC's ongoing investigations into the Ethereum Foundation, as well as the recent IRS draft form that lists unhosted wallets as a type of broker. He expressed concern about the potential impact of these investigations on the crypto industry, but remained optimistic about the future of DeFi in the US.
Show highlights:
How the Tornado Cash case could set a critical precedent for open-source software
How the government’s Tornado indictment reveals a fear of unsurveilled financial systems, according to Jake
What the implications of the Tornado Cash case could be for the broader DeFi space
What lessons can be learned from the $62 million hack of Munchables on Blast
How to address the challenge of malicious actors like North Korea using a permissionless system
Whether Coinbase's staking services are considered a securities offering
Whether Judge Failla’s ruling on Coinbase acting as a broker could be overturned
Why Jake thinks the SEC will face significant challenges in its potential case against Uniswap Labs
How the Debt Box case order impacts the SEC’s reputation, according to Jake
How the industry is pushing back against the SEC’s regulation by enforcement with its own lawsuits for Lejilex and Beba
The future of DeFi in the U.S. and its potential for success, according to Jake
Why Jake believes the SEC will deny Ether ETFs and why he disagrees with the latest stablecoin regulation bill by Lummis and Gillibrand
How the U.S. Presidential election could impact the future of the crypto industry
Thank you to our sponsors!
Polkadot
Guest:
Jake Chervinsky, Chief Legal Officer at Variant
Previous appearances on Unchained:
Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress
The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility
All Things Crypto Regulation With Jake Chervinsky
Everything You Need to Know About the Looming Battle Over Privacy in Crypto
Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky
Links
Tornado Cash
Jake’s amicus brief with Amanda Tuminelli
Unchained: Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant?
Unchained: Is This the End of DeFi? Why the US Government Is Going After Tornado Cash
Munchables exploit
Unchained: Blast-Based NFT Game Munchables Recovers $62.5 Million Lost in Exploit
SEC cases:
Coinbase
Unchained:
Why the SEC’s Case Against Coinbase Is So Significant for Crypto
Court Rejects Coinbase’s Bid to Dismiss SEC Charges Against It
Uniswap
Unchained:
Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance?
SEC Puts DeFi in Its Sights With Potential Uniswap Suit
Uniswap Blog Post on the Wells notice
Marvin Ammori Thread on Wells notice
Ethereum Foundation
Unchained:
SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report
The Real Reason Why the SEC Might Be Going After Ethereum
Debt Box
Unchained: SEC Sanctioned for ‘Abuse of Power’ in Debt Box Lawsuit
Beba
DeFi Education Fund and Beba sue SEC over airdrop policies
Lejilex
Lawsuit document
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Crypto vs. The World | Jake Chervinsky & Amanda Tuminelli
While there is always a lot of activity on Crypto Legal Front, this particular moment in time feels especially active. Today on the show we have Jake Chervinsky and Amanda Tuminelli, two of crypto’s most impressive lawyers.
Every single court case, of which there are 5 different ones discussed in this episode today, brings new precedent and new clarity to the crypto space. The theme of this episode today might be… crypto bites back.
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🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS https://go.coindesk.com/4cBztCA
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🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku
------ TIMESTAMPS 00:00:00 Start 00:05:18 Life as a Crypto lawyer 00:10:20 Coinbase Court Case 00:15:21 Are Airdrops Securities 00:19:34 Amanda's Take 00:22:22 Some Bad News 00:27:32 When Can We Expect Clarity? 00:30:11 Politics vs Policy 00:32:39 SEC vs ETH ETFs 00:36:55 ETH ETF Denial? 00:42:59 SEC Lying? 00:50:41 Leveraging Against Corruption 00:55:17 DeFi Education Fund vs SEC 01:03:56 Roman Storm 01:15:06 Can Courts Remain Impartial? 01:16:57 Elections Impact
------ RESOURCES
Amanda https://twitter.com/amandatums
Jake https://twitter.com/jchervinsky
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Policy Series: Crypto Terrorism, FinCEN vs Mixers, and IRS Tax Updates | Rebecca Rettig and Jake Chervinsky
In the latest episode of the Empire Policy Series, Santi hosts Rebecca Rettig and Jake Chervinsky to delve into recent allegations of Hamas leveraging cryptocurrency for terrorism funding, FinCEN's upcoming rules concerning crypto mixers, and the IRS's evolving crypto tax regulations. The trio also dissect the the forthcoming 3-6 months of crypto regulation and discuss recent bipartisan legislative triumphs in the stablecoin domain. To close out both Rebecca and Jake highlight the need for industry-wide collaboration to ensure regulations both foster innovation and effectively mitigate inherent risks.
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Timestamps:
(0:00) Introduction
(1:31) Is Crypto Financing Terrorism?
(11:37) Policy Maker Responses to Crypto Terrorism
(18:34) Chainalysis Ad
(19:38) Mixer Rule by Financial Crimes Enforcement Network
(31:49) Defining the Mixer Use Case
(45:22) Tax Provision for Crypto
(51:59) Regulatory Outlook
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Follow Rebecca: https://twitter.com/RebeccaRettig1
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santi: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
This episode is brought to you by Chainalysis.
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases.
For more information, visit www.Chainalysis.com/empire.
- -
Resources
Submit a comment on regulation
https://www.protectdefi.org/
DeFi Education Fund
https://www.defieducationfund.org/
The Blockchain Association
https://theblockchainassociation.org/
https://twitter.com/BlockchainAssn
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Policy Corner: Grayscale ETF, Uniswap Dismissal, Tornado Cash Indictment | Rebecca Rettig, Jake Chervinsky
Jason is joined by Rebecca Rettig and Jake Chervinsky in today's special Policy Series episode to tackle the monumental implications of Grayscale ETF decision, Uniswap case dismissal and Tornado Cash indictments. They discuss how these decisions could impact the broader industry and what's coming up next for Bitcoin ETF decisions.
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Timestamps:
(00:00) Introduction
(01:37)The Importance of Grayscale ETF Victory
(11:20) “Chainalysis Ad”
(12:24) ETF Consequences & What's Next?
(28:48) Uniswap Case Dismissal
(36:52) Impacts of Decisions
(39:39) Creating a New Asset Class
(41:27) Cravath Paper & Tornado Cash Indictment
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Follow Rebecca: https://twitter.com/RebeccaRettig1
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santi: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
This episode is brought to you by Chainalysis.
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases.
For more information, visit www.Chainalysis.com/empire.
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Resources:
Grayscale ETF
https://twitter.com/jchervinsky/status/1696544309699363201
https://blockworks.co/news/judges-grayscale-sec-ruling
https://twitter.com/MTCoppel/status/1696856472762683814
Uniswap Case Dismissal
https://blockworks.co/news/uniswap-class-action-dismissed
https://twitter.com/haydenzadams/status/1696991910370411003
Cravath Paper & Tornado Cash
https://twitter.com/Cravath/status/1697693810363351358?s=20
https://twitter.com/RebeccaRettig1/status/1697716451358982364
Crypto Use-cases
thevaluedrop.io
The Blockchain Association
https://theblockchainassociation.org/
https://twitter.com/BlockchainAssn
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Policy Series: The Ripple Effect | Rebecca Rettig, Jake Chervinsky
Join Santi and guests Rebeca Rettig and Jake Chervinsky in today's special Policy Series episode as they discuss the landmark Ripple case and its monumental impact. Explore the implications for future legislation, token sales practices, decentralization & governance, and get updates on MiCA & EU regulations.
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Timestamps:
(00:00) Introduction
(01:24) Landmark Ripple Case
(14:00) Verdict Impact on Industry Financing
(19:08) What's Next for Ripple Case?
(24:35) Influence on Future Legislation
(28:36) Token Sales in Practice
(38:31) Decentralization & Governance
(48:57) Digital Asset Market Structure Proposal
(56:25) Updates on MiCA & EU
(01:01:18) Call Your Representatives
(01:09:02) Futures Curve
(01:15:07) Recession Risk
- -
Follow Rebecca: https://twitter.com/RebeccaRettig1
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santi: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
This episode is brought to you by Chainalysis.
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases.
For more information, visit www.Chainalysis.com/empire.
- -
Resources
Crypto Usecases
thevaluedrop.io
The Blockchain Association
https://theblockchainassociation.org/
https://twitter.com/BlockchainAssn
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress - Ep. 520
XRP isn’t itself a security; it depends on how it’s sold. So said a federal judge last Thursday in the SEC vs. Ripple case and the implications are significant. Jake Chervinsky, chief policy officer at the Blockchain Association, and lawyer Kayvan Sadeghi, partner at Jenner & Block, join the show to discuss two major ramifications. One: U.S. District Judge Analisa Torres dealt a major blow to the legal theory underpinning the SEC’s case against Coinbase. Two: This order really “lights a fire” under U.S. lawmakers to act on a pair of crypto bills in Congress.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
why this is an “extraordinary victory” for the industry, according to Jake
whether Judge Torres made the right decision
how the SEC could seek an interlocutory appeal to halt the case, though it’s unlikely
what are the pending items in the case that need to be resolved
why the order that Judge Torres issued is not a final judgment
why it is more important to look at the transaction, not at the nature of the asset, to determine whether something should be deemed a security
whether the SEC has the authority to call digital assets securities
the significance of the “major questions doctrine”
how the order in the Ripple case will affect other cases like the Coinbase one
whether exchanges should re-list XRP
why this case could be instrumental in steering the direction of crypto regulation in the U.S.
whether other crypto tokens like SOL or MATIC should feel relieved with this new ruling
why Jake says that this case will speed up the chances of crypto legislation getting passed
what the differences are between the current crypto bills that are being proposed
whether SEC Chair Gary Gensler should recuse himself from enforcement actions in the crypto industry
Thank you to our sponsors!
Crypto.com
Arbitrum Foundation
TOKEN2049
Guests:
Jake Chervinsky, chief policy officer at the Blockchain Association
Previous appearances on Unchained: The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility
All Things Crypto Regulation With Jake Chervinsky
Everything You Need to Know About the Looming Battle Over Privacy in Crypto
Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky
Kayvan Sadeghi, partner at Jenner & Block and co-chair of the fintech and crypto assets practice.
Links:
Previous coverage of Unchained on the Ripple case:
New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now?
The Chopping Block: Should XRP Holders Really Be Rejoicing?
The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know
Ripple's XRP: Why Its Chances of Success Are Low
SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security
CoinDesk:
Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP
Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray
The Washington Post: Ripple ruling threatens SEC’s crypto regulation push
Chair Gensler Must Recuse Himself From Digital Asset Enforcement Decisions - Blockchain Association
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Policy Series: It's Time To Go On Offense | Rebecca Rettig, Jake Chervinsky
Today we are joined by Rebecca Rettig and Jake Chervinsky to discuss the SEC's attack on crypto and how the industry needs to respond. Rebecca and Jake explore the SEC lawsuits, the McHenry-Thompson Bill, their expected US regulation timeline, DC's sentiment and more! Regulation and policy are becoming must-know topics for crypto participants, and this is your go-to source for everything you need to know. This is the second episode in an ongoing regulatory and policy series with Jake and Rebecca!
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Timestamps:
(00:00) Introduction
(00:53) The SEC Lawsuits: What’s Next?
(10:53) “Chainalysis Ad”
(11:57) The SEC Lawsuits: What’s Next?
(16:02) We Need a Use Case to Show Regulators
(21:06) The McHenry-Thompson Bill
(38:23) Unprecedented Action by the SEC
(45:47) MiCA, Global Legislation and the US’s Timeline
(54:10) Non-Custodial Tax Reporting
(56:18) DC's Sentiment: FTX Still Lingers
- -
Follow Rebecca: https://twitter.com/RebeccaRettig1
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santi: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
This episode is brought to you by Chainalysis. Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.Chainalysis.com/empire.
- -
Resources:
The Blockchain Association
https://theblockchainassociation.org/
https://twitter.com/BlockchainAssn
Polygon
https://polygon.technology/
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility - Ep. 503
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner, chop it up about the latest news. In this episode, the Blockchain Association’s Jake Chervinsky breaks down the cases against Binance and Coinbase – and how they are different from FTX – what it means for the crypto industry, and who may be next.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
Why Jake believes that the Binance lawsuit didn’t present major surprises
Whether the SEC is trying to ban the crypto industry by enforcement
How Binance has been allegedly doing a huge amount of wash trading
Whether Gemini is next on the SEC’s enforcement action list
How CZ and Coinbase CEOs have responded to the complaints
How the market reacted to the lawsuits
What the differences are between the Binance case and FTX
Why the SEC is alleging that Coinbase is operating as an unregistered broker, exchange, and clearing agency
Whether token issuers can bring action against the SEC for harming their business or reputation
Whether the crypto industry doesn’t take the SEC seriously
Whether the EOS settlement in 2019 shows how inconsistent the SEC has been in its crypto enforcement actions
Whether these cases will have an impact in Congress and accelerate legislation
What would happen if Gary Gensler stops being the chair of the SEC
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly
Tarun Chitra, managing partner at Robot Ventures
Guest
Jake Chervinsky, chief policy officer at the Blockchain Association
Previous Unchained Appearances:
Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky
Everything You Need to Know About the Looming Battle Over Privacy in Crypto
All Things Crypto Regulation With Jake Chervinsky
Disclosures
Links
Unchained:
SEC Sues Coinbase for Breaking Securities Laws
SEC Files Motion to Freeze Binance’s Assets, Asks for ‘Sworn Accounting’
SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities
SEC Calls Solana, Polygon, Algorand and Other Tokens Securities but Misses Ether in Binance Lawsuit
US House Republicans Propose Bill That May Give Crypto Assets a Path to Becoming Commodities
Fortune: Former Coinbase employee and his brother settle with the SEC, which again dodges proving whether cryptocurrencies are securities
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Will the SEC Kill Crypto? with Jake Chervinsky & Amanda Tuminelli
Joining us today are the best in the biz Chervinsky & Amanda Tuminelli who are here to answer all our questions about the SEC and it's assault on the crypto industry as a whole. ------ 📣 ASYMETRIX | STAKE stETH NOW https://bankless.cc/asymetrix-pod
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------ CHAPTERS 0:00 Intro 6:05 Who are Jake and Amanda? 8:08 Breaking Down This Historical Moment 11:19 The SEC Never Wanted Crypto To Win 14:56 Why Is Gary So Confident? 18:43 David's Conspiracy Theory 23:52 What if Gary Actually Wins? 31:07 Clarity From The Court Date? 35:01 Does Gary Just Want the Fame? 36:49 Why The SEC Rejects Public Process 38:34 Is This Un-Constitutional? 44:06 Jake's Optimistic Take 48:14 The Digital Asset Bill 52:44 How YOU Can Take Action ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures
Policy Series: Why The US Is Falling Behind | Rebecca Rettig, Jake Chervinsky
Today we are joined by Rebecca Rettig and Jake Chervinsky to discuss the state of crypto regulation. Rebecca and Jake explain how the US is falling behind, the EU's MiCA regulation, the SEC's attack on Coinbase, Gary's false sense of control and the hottest crypto bills in DC. Regulation and policy are becoming must-know topics for crypto participants, and this is your go-to source for everything you need to know. This is the first episode in an ongoing regulatory and policy series with Jake and Rebecca!
- -
Timestamps:
(00:00) Introduction
(00:40) The State of Crypto Regulation
(02:36) Europe's MiCA Legislation
(11:10) “Chainalysis Ad”
(12:14) Coinbase’s Offshore Expansion
(14:11) The UK’s Approach and What’s Next for the EU
(19:07) Gary Gensler’s April Testimony
(22:45) Coinbase’s Fight with the SEC
(30:08) Warren Marshall Bill
(35:21) The US Policy Outlook
- -
Follow Rebecca: https://twitter.com/RebeccaRettig1
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santi: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
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Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
This episode is brought to you by Chainalysis.
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.Chainalysis.com/empire.
- -
Resources:
Coinbase's response to the SEC’s Wells notice
https://www.coinbase.com/blog/coinbase-responds-to-the-secs-wells-notice
The Blockchain Association
https://theblockchainassociation.org/
https://twitter.com/BlockchainAssn
Polygon
https://polygon.technology/
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
The Regulatory Impact of FTX | Kristin Smith, Jake Chervinsky
In this episode of Empire, Kristin Smith and Jake Chervinsky join us to discuss how FTX's collapse will impact crypto regulation.
SBF was the poster child of crypto in D.C. - how will his fallout damage crypto's reputation? Did regulators fail consumers, and how will they respond? What are the shortcomings of the DCCPA bill? How important are the political midterms, and what is happening in the securities vs commodities debate? Tune in to find out!
- -
Timestamps:
(00:00) Introduction
(00:54) SBF’s Unbelievable Damage
(07:17) How Active Was SBF In D.C.?
(09:52) The First Red Flags & DCCPA Threats
(22:56) Where Regulators Failed
(27:32) Expected Reaction From D.C.
(33:43) Circle Ad
(35:26) DCCPA Overview & Its Impact On DeFi
(47:53) What The Midterms Mean For Crypto
(50:55) The Litigation Phase
(55:07) LBRY, Ripple & Progressive Decentralization
(1:03:45) A Path Forward
- -
Follow Kristin: https://twitter.com/KMSmithDC
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
--
Circle’s USDC has quickly become one of the most trusted and widely used stablecoins because of its composability, stability and reserve transparency. As a seamless, trusted digital currency, USDC is a zero-to-one opportunity for the global financial system. Check out their Transparency Hub at http://empirepodcast.link/circle that outlines everything from links to USDC weekly reserve reports, monthly attestations, and blog posts written by their executive team highlighting how and why USDC was built the way it is.
- -
Resources
Jake's tweet thread on DCCPA
https://twitter.com/jchervinsky/status/1570451252852527104
Brian Amstrong's response to Elizabeth Warren
https://twitter.com/brian_armstrong/status/1590511022104010753
Ron Hammond's tweet thread on FTX/SBF
https://twitter.com/ronwhammond/status/1590741692348772352
Blockchain Association website
https://theblockchainassociation.org/
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
The State of Crypto Regulation | Rebecca Rettig and Jake Chervinsky
In this episode of Empire, Jason and Santi are joined by Rebecca Rettig and Jake Chervinsky to discuss the state of crypto regulation. We explore what Tornado Cash sanctions mean for crypto, how to define decentralization, if tokens will be considered securities, Ethereum censorship, what to expect from future regulation and more!
- -
(00:00) Introduction
(01:18) Tornado Cash Sanctions
(16:09) Defining Decentralization
(26:17) What Has Been Most Damaging to Crypto?
(31:03) Do Regulators Understand the Nuances of Crypto?
(37:35) What Regulations Should Be Prioritized Today?
(39:27) A Focus on User Protection
(46:17) Getting Congress on Our Side
(59:45) The SEC's Attack on Crypto (Coinbase)
(1:01:02) Uniswap Fee Switch Implications
(1:08:17) ETH Validators & OFAC Compliance
(1:19:27) Permissionless vs Permissioned DeFi
- -
Follow Rebecca: https://twitter.com/RebeccaRettig1
Follow Jake: https://twitter.com/jchervinsky
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santi: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
- -
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
The Death of Crypto Privacy? with Jake Chervinsky
On today's State of the Nation, it's time to bring back the crypto legal mind of Jake Chervinsky. With the recent OFAC sanctions against Tornado Cash and the cascading chilling effect, our digital rights are under attack.
Have we seen the death of crypto privacy? What can we do to help advocate for digital justice? As always, Jake brings a thoughtful and measured approach to these crucial topics.
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----- Resources:
Jake Chervisnky: https://twitter.com/jchervinsky
Set Alex Free: https://setalexfree.nl/
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
Jake Chervinsky on Tornado Cash Sanctions: The Rightful Outrage and the Need to Further Decentralize DeFi
This week on The Defiant Podcast we speak to Jake Chervinsky, the executive vice president and head of policy at Blockchain Association, a non-profit trade association representing the crypto industry in Washington DC. Jake is one of the most qualified to discuss the US Treasury Department sanctioning Tornado Cash, a development that’s caused shockwaves through crypto.
Thanking our podcast sponsors:
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Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky - Ep.307
Kristin Smith, executive director at Blockchain Association, and Jake Chervinsky, head of Policy at Blockchain Association, discuss the current state of crypto regulation. Show topics:
why 2021 was a watershed year for crypto regulation and lobbying
why Jake decided to move from Compound Labs to Blockchain Association
what Kristin and Jake think about the current state of regulation in the crypto industry
how crypto education will play a significant role in Blockchain Association efforts going forward
how crypto will affect midterm elections
why Kristin thinks crypto will not be a partisan issue long term
what sort of budget Blockchain Association functions on
what Kristin and Jake think about the President’s Working Group report on stablecoins
why Jake does not think the US should issue a CBDC
what Blockchain Association’s take is on SEC commissioner Hester Peirce’s “safe harbor” proposal
why Kristin and Jake believes the idea of a “crypto czar” is not feasible
how regulators are treating DeFi going into 2022
how crypto tax guidelines could be improved for centralized exchanges
how Blockchain Association thinks tax code 6050I should be applied
what issues could arise from DAOs in 2022+
what listeners can do to address the different regulatory topics discussed in this podcast
Thank you to our sponsor!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Show Links
Guests
Jake Chervinsky: https://twitter.com/jchervinsky
Kristin Smith: https://twitter.com/kmsmithdc
Previous Unchained appearances:
https://unchainedpodcast.com/everything-you-need-to-know-about-the-looming-battle-over-privacy-in-crypto/
https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/
https://unchainedpodcast.com/all-things-crypto-regulation-with-jake-chervinsky/
https://unchainedpodcast.com/why-is-the-proposed-fincen-rule-for-unhosted-wallets-being-pushed-so-quickly/
https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/
https://unchainedpodcast.com/what-the-crypto-industry-could-see-under-a-biden-administration/
https://unchainedpodcast.com/when-is-a-token-decentralized-enough-to-not-be-a-security-ep-056/
The Blockchain Association
Website: https://theblockchainassociation.org/
Twitter: https://twitter.com/BlockchainAssn
2021 growth: https://theblockchainassociation.org/crypto-industrys-leading-trade-association-more-than-doubles-membership-in-2021/
Jake joining the team: https://www.politico.com/newsletters/politico-influence/2021/11/09/blockchain-association-fills-out-its-washington-team-with-seasoned-hands-798774
Regulatory Topics Discussed:
a16z
https://a16z.com/2021/10/13/an-agenda-for-the-future-of-the-internet/
Tax Code 6050i
https://www.coincenter.org/congress-takes-its-war-on-cash-to-digital-assets/
https://unchainedpodcast.com/not-reporting-info-on-some-transaction-partners-could-soon-be-a-felony/
Infrastructure Bill
https://twitter.com/jerrybrito/status/1461317078175072263
President’s Working Group stablecoin report
https://www.coindesk.com/policy/2021/11/01/biden-administration-to-congress-put-stablecoins-under-federal-supervision-or-we-will/
FATF Guidance
https://twitter.com/coincenter/status/1453700485484097537
Articles Jake Mentioned
Jake on CBDCs: https://www.coindesk.com/layer2/2021/12/21/secure-americas-financial-strength-with-stablecoins-not-central-banks/
Gabriel Shapiro on DAOs: https://lexnode.substack.com/p/wyomings-legal-dao-saster
Morgan Harper thread: https://twitter.com/mh4oh/status/1463219384776806402
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The State of Crypto Regulation | Jake Chervinsky (SotN 8/17)
Jake Chervinsky is fighting on the front lines for the effective regulation of crypto, and he was a key contributor in the efforts to amend the United States Infrastructure Bill, which recently passed the Senate.
On this State of the Nation, we discuss the unfolding events in US Legislation, and how we can move forward towards a cooperative and productive regulatory landscape.
------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/ 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ ------ BANKLESS SPONSOR TOOLS:
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🦄 UNISWAP | DECENTRALIZED FUNDING https://bankless.cc/UniGrants
------ 📣 TracerDAO | Building DeFi Infrastructure. Join the Discord! https://bankless.cc/TracerDAO ------ Resources:
Jake on Twitter: https://twitter.com/jchervinsky?s=20
The Blockchain Association: https://twitter.com/BlockchainAssn?s=20
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
Does the FinCEN's Rule Break DeFi? | Jake Chervinsky
🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ -----GO BANKLESS WITH THESE SPONSOR TOOLS:
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🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn------ Jake Chervinsky on the recent FinCEN Proposed Rulemaking
FinCEN has finally released a long-rumored proposed rule on how crypto-asset custodians like Coinbase, Gemini, or Cash app can compliantly enable their users to take control over their cryptocurrency funds into 'self-hosted' or 'unhosted wallets'.
This new rule would impose new obligations on virtual asset service providers (VASPs) like exchanges & custodians and increase the reporting requirements on outbound transactions to their customers' wallets.
The actual release:https://home.treasury.gov/news/press-releases/sm1216
We bring on Jake Chervinsky to help us go through some of this news and help us digest what was released!
Read Jake's tweet thread!https://twitter.com/jchervinsky/status/1340135040399904770?s=20
------Don't stop at the video!
Subscribe to the Bankless newsletter programhttp://bankless.substack.com/
Visit the official Bankless website for resourcehttp://banklesshq.com/ Follow Bankless on Twitterhttps://twitter.com/BanklessHQ Follow Ryan on Twitterhttps://twitter.com/ryansadams Follow David on Twitterhttps://twitter.com/TrustlessState -----Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case
Everything You Need to Know About the Looming Battle Over Privacy in Crypto - Ep.199
Jake Chervinsky, general counsel at Compound Labs, and Kristin Smith, executive director of The Blockchain Association, talk about the storm brewing in the cryptosphere involving self-custody and privacy. In this episode, they cover:
the differences between hosted and self-hosted wallets and how transactions between them differ
why the ability to transact from self-hosted wallets is so important
compliance and regulation in the traditional financial world and how it could affect self-custody
the “Swiss rule” and what it could mean for the rest of the world
the proposal by FinCEN to lower the threshold for collecting data on transactions from $3,000 to $250
how regulators might achieve their goals without “dragnet” surveillance
how the amount of crime and money laundering in the traditional financial system compares to that in the crypto world
why OTC brokers are considered the most significant money laundering risk in crypto, and how that risk might be mitigated
how different political environments can influence the value of peer to peer transactions
whether Americans should be willing to give up some of their financial privacy in favor of security
what the recent statement by the DOJ's cryptocurrency enforcement framework labeling anonymous transactions as "high-risk activity indicative of possible criminal conduct" could mean for privacy coins like Monero and Zcash
Gary Gensler's appointment as head of Biden's financial policy transition team and whether to view it as a positive or negative for crypto
whether they think the incoming Congress will be in favor of more surveillance or more privacy
whether there might eventually be regulations for developers who write code for self-hosted wallets
how potential rules regarding self-custody could affect non-monetary items like NFTs
and the next big developments they are watching out for regarding this issue
Thank you to our sponsor!
Crypto.com: http://crypto.com
Episode links:
Jake Chervinsky: https://twitter.com/jchervinsky
Compound Labs: https://compound.finance
Kristin Smith: https://twitter.com/kmsmithdc
The Blockchain Association: https://theblockchainassociation.org/
https://twitter.com/BlockchainAssn
FinCen NPRM: https://www.federalregister.gov/documents/2020/10/27/2020-23756/threshold-for-the-requirement-to-collect-retain-and-transmit-information-on-funds-transfers-and
Coin Center commentary on lowering FinCEN threshold: https://www.coincenter.org/app/uploads/2020/10/Coin-Center-Comment-FinCEN-FRB-250-threshold.pdf
Unchained episode about the FATF travel rule: https://unchainedpodcast.com/why-the-travel-rule-is-one-of-the-most-significant-regulations-in-crypto/
The choice of Gary Gensler to lead the financial policy transition team:
https://www.wsj.com/livecoverage/trump-biden-election-day-2020/card/peMRHGPJasECSPLezSFx
https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team
Shapeshift delists Zcash: https://www.coindesk.com/shapeshift-delists-privacy-coin-zcash-over-regulatory-concerns
Jessie Liu interview on Unchained: https://unchainedpodcast.com/what-you-need-to-know-about-the-dojs-cryptocurrency-enforcement-framework/
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SotN#17: RETREATING! w/ Jake Chervinsky (BitMEX REKT, SEC Action, is DeFi safe?)
📣 Join us at Invest Ethereum Conference Oct 14th - http://bankless.cc/investeth $25 off w/ “BANKLESS” code
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------
SotN #16: RETREATING! w/ @jchervinsky (BitMEX REKT, SEC Action, is DeFi safe?)
Lots of legal action taken against the crypto world lately! We're bringing Jake Chervinsky from Compound Labs onto the show to help us understand what's going on.
- Enforcement actions from the SEC and CFTC - SALT Lending pays fine, must return investor funds, must register token - Kik is official dead, slain by SEC - BitMEX got BitREKT -- CEO Arther Hayes 'is AT LARGE', CTO of BitMEX is in jail
But most importantly:
Is DeFi immune from this? Does the protocolization of financial instruments save the day? When the spotlight turns to DeFi, are we prepared?
Resources linked & discussed
When worlds collide Bankless article:https://bankless.substack.com/p/when-worlds-collide-market-monday-a27
The Case for Electronic Cash and Financial Privacy (Coincenter piece that Jake talked about) https://www.coincenter.org/the-case-for-electronic-cash/
Jakes prediction that regulatory action is coming: https://twitter.com/jchervinsky/status/1310626151631671296?s=20
SALT Lending: https://www.coindesk.com/sec-orders-salt-lending-to-refund-investors-in-its-50m-ico
Kick KIN ruling: https://www.coindesk.com/kik-sec-ruling
Bloomberg scare article:https://www.bloomberg.com/news/articles/2020-10-01/booming-crypto-market-a-potential-haven-for-money-laundering
What does BitMEX charge from the DOJ for breaking the bank secrecy act mean for Defi? https://twitter.com/AdamScochran/status/1311729872050544643?s=20
Jay Clayton SEC chair says all stocks may be tokenized:https://www.theblockcrypto.com/post/79783/all-stocks-tokenized-sec-chairman-clayton
------
Don't stop at the video!
Subscribe to the Bankless newsletter program http://bankless.substack.com/
Visit the official Bankless website for resources http://banklesshq.com/
Follow Bankless on Twitter https://twitter.com/BanklessHQ
Follow Ryan on Twitter https://twitter.com/ryansadams
Follow David on Twitter https://twitter.com/TrustlessState
Follow DeFi Dad on Twitter https://twitter.com/DeFi_Dad
-----
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All Things Crypto Regulation With Jake Chervinsky - Ep.131
Jake Chervinsky, general counsel at Compound, goes over a plethora of crypto regulatory issues, such as those related to securities law such as the SEC vs. Kik case, Ripple, stablecoins, no-action letters, Blockstack and more. We also discuss whether there should be one regulator for crypto matters in the US, whether it makes sense to create a new category for digital assets instead of applying laws for securities, commodities, etc., to digital tokens, and why he thinks Libra will likely not launch in its proposed form. He also gives his odds on a Bitcoin ETF being approved soon, talks about the tension between privacy and financial regulation and reveals what he thinks is the biggest regulatory issue in DeFi that no one's talking about.
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Episode links:
Jake Chervinsky: https://twitter.com/jchervinsky
Compound: https://compound.finance/
Unchained interview with Compound CEO Robert Leshner: https://unchainedpodcast.com/how-youll-earn-interest-on-your-crypto-with-compound-ep-82/
Unchained with Ted Livingston of Kik about its intention to fight the SEC in court: https://unchainedpodcast.com/kin-sets-up-5-million-defendcrypto-org-to-take-on-the-sec/
Kik's Wells response: https://www.kin.org/wells_response.pdf
SEC no-action letter to Quarters: https://www.coindesk.com/sec-clears-blockchain-gaming-startup-to-sell-quarters-tokens
SEC Commissioner Hester Peirce on the first no-action letter for a token: https://www.sec.gov/news/speech/peirce-how-we-howey-050919
Unconfirmed episode on Blockstack’s Reg A+ filing: https://unchainedpodcast.com/blockstacks-reg-a-filing-and-the-future-of-token-offerings%e2%80%8b/
Decrypt article on issues with issuing a token under Reg A+: https://decrypt.co/7839/blockstack-token-offering-historic-but-dance-with-sec-far-from-over
How much Ripple has sold recently: https://twitter.com/lawmaster/status/1154276254775947264?s=20
Jake’s tweet storm on the Libra hearings in Congress: https://twitter.com/jchervinsky/status/1151875713903005697?s=20
Jeremy Allaire’s testimony to Congress: https://www.banking.senate.gov/imo/media/doc/Allaire%20Testimony%207-30-19.pdf
Unchained interview with Jeremy Allaire on regulations: https://unchainedpodcast.com/jeremy-allaire-on-why-the-us-government-needs-a-new-category-for-digital-assets/
Push for new crypto regulations: https://www.wsj.com/articles/lawmakers-push-for-new-bitcoin-rules-11562405401
Tax issues: https://fortune.com/2019/07/29/here-comes-the-irs-the-ledger/
Bitcoin ETF: https://twitter.com/jchervinsky/status/1111734963798458369?s=20
Jake’s tweet storm on Bakkt: https://twitter.com/jchervinsky/status/1059828623471972354?fbclid=IwAR259I8Q2NSNmQ_PEb6l__XatWhmqj9U8gocHRoeb-JXizviI9T62rMuQC8
The latest on Bakkt: https://www.coindesk.com/bakkt-is-supposed-to-start-testing-its-bitcoin-futures-contracts-today
Sanctions coming to crypto: https://www.coindesk.com/get-ready-for-crypto-sanctions-enforcement
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