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Brought To You By:
- Lack of regulatory clarity for crypto: The lack of clear, concise leadership at the highest levels of government is causing unelected bureaucrats to run amok, blurring the lines between banking and digital asset exchanges.
- Overreach by unelected bureaucrats: The current administration and unelected bureaucrats are overreaching and stepping on individual liberties, leading through enforcement rather than representation.
- Restructuring the SEC: The proposed bill to remove Gary Gensler is critical to restructuring the SEC, empowering the council, and putting a clear divide between parties.
- Overreach of the SEC: The SEC's overreach is causing destruction in the crypto space, with lawsuits stacking up and taxpayer money being spent. It's important to appeal and question their authority.
- Lack of progress in passing cryptocurrency legislation: Congress has failed to pass any bills related to cryptocurrency regulation, leaving the SEC to take enforcement action.
- Ripple lawsuit and regulatory clarity: The motivation behind the SEC's lawsuit against Ripple and its impact on achieving regulatory clarity for the cryptocurrency space is still unclear.
Links to Articles We Discuss
What are the core building blocks for leveraging digital assets? 🧱
Tokenization, custody, and off-ramps to name a few.
Learn from Ripple's @_b_berry on the financial system's tech stack in the latest #CryptoInOneMinute. ⏱️
Coinbase motion to dismiss
I believe @coinbase’s Motion to Dismiss, based on the Major Questions Doctrine, has real teeth. I’m not saying that it will be granted for sure, I’m just saying it’s not your garden variety motion to dismiss where denial can easily be predicted. The motion has teeth because of…
Coinbase filed its 177 page (!) response to the SEC lawsuit.
What jumped out to me is how Coinbase uses information/experience from the Ripple case (See the Hinman email reference below) and also throws in new stuff (the Major Questions Doctrine).
The main problem Coinbase faces in its SEC lawsuit is that it has to essentially defend the non-security status of numerous tokens.
Here you see that when confronted with a statement by Polygon, Coinbase can only respond "It says what it says."
Fighting from a weak position.
This is exactly what the Judge in the @Ripple case was alluding to when she said SEC lawyers were not maintaining a faithful allegiance to the law. You’re supposed to have a good faith basis to being a case, meaning you believe you can win by applying the law. You don’t wait…
SEC v @BittrexUS litigation update.
Earlier today, @BittrexUS (the U.S. exchange), @BittrexGlobal and William Shihara (Bittrex founder) filed motions to dismiss the SEC's complaint.
This is good news for anyone concerned about the SEC's regulatory overreach.
Download video - Hans Loaded sent us this
President Ruto to the West:
We no longer want IMF and World Bank.
We need a new financial architecture where governance and power is not in the hands of a few. A new organization of equas.
Things are not going forward,they are going backwards. You are not hearing us.
1/ SEC Chair Gary Gensler has wrongly prejudged that all digital assets are securities.
As a result, federal law requires that he recuse himself from all enforcement decisions related to digital assets.
@MTCoppel and I wrote a paper explaining why
It’s time to #FireGaryGensler & restructure the @SECGov
Vitalik stakes only a fairly small portion of his $ETH because meeting his bar for safety is too complicated.
@IOHK_Charles what % of your $ADA is staked? #Cardano
Yes, Justin also doesn't stake his ETH because he understands how it works.
"🎶Whatcha gonna do when they come for you..."
Kraken ordered to turn over account information to the Internal Revenue Service (IRS) today. Transactions exceeding $20,000 (calendar year) + names, birthdates, taxpayer ID's, addresses, phone numbers, email addresses, & various…