Law of Code

DUNA — the Decentralized Unincorporated Nonprofit Association — is one of the most important new legal structures for crypto governance. To understand its history, tax implications, and jurisdictional trade-offs, I sat down with David Kerr, founder of Cowrie, a crypto-native advisory firm specializing in U.S. tax compliance and entity structuring.David was instrumental in drafting the Wyoming DUNA Act, and in this episode we discuss the evolution of UNAs, why Wyoming stepped up, the tax and compliance realities facing projects, and what this means for the future of DAOs in the U.S.Timestamps:➡️ 00:00 — Intro➡️ 00:46 — Sponsor: Day One Law➡️ 01:09 — Origins of the DUNA: why unincorporated associations matter➡️ 03:32 — Early U.S. entity law, UNAs, and Wyoming's first adoption in 1993➡️ 07:53 — Why some states resisted hybrid entity forms➡️ 12:30 — Nonprofit ≠ tax exempt: clearing up misconceptions➡️ 16:15 — How DAOs and protocol treasuries fit with the DUNA model➡️ 20:45 — Legislative drafting in Wyoming and lessons from Texas➡️ 27:07 — Secretary of State & local support➡️ 29:16 — When does a U.S. DUNA make sense for international projects?➡️ 31:54 — Tax trade-offs: advantages, disadvantages, and compliance➡️ 38:54 — Treasury management, W-8/W-9s, and reporting obligations➡️ 41:56 — The DUNA as “where governance goes”➡️ 47:39 — Building Cowrie: tax, filings, advisory, and administrator services➡️ 49:11 — Crypto's “LLC moment”& more.Sponsor: This episode is brought to you by ⁠Day One Law⁠ — a boutique law firm helping crypto startups navigate complex legal challenges. Subscribe to ⁠Day One's free monthly newsletter⁠ for legal updates. Resources:

DOJ Criminal Division Chief Matthew Galeotti recently stated: “Merely writing code, without ill intent, is not a crime.” He emphasized that developers of neutral tools should not be held liable for someone else's misuse.Joining me to unpack what this means for developers is Amanda Tuminelli, Executive Director of the DeFi Education Fund. We discuss the DOJ's remarks, DEF's role in shaping the conversation, and what comes next for developer protections, market structure legislation, and global DeFi policy.Timestamps:➡️ 00:00 — Intro➡️ 00:46 — Sponsor: Day One Law➡️ 01:09 — DOJ's statement: “writing code is not a crime”➡️ 03:17 — How the Tornado Cash trial might have been different➡️ 05:15 — DEF's advocacy on Section 1960➡️ 07:05 — Remaining gray areas: sanctions, facilitation & intent➡️ 10:30 — How developers can show good faith reliance➡️ 12:25 — Where developer protections may land in market structure bills➡️ 14:30 — DEF's next priorities: Roman Storm, market structure, SEC engagement➡️ 17:11 — Defining “facilitate” and why rulemaking could help➡️ 19:08 — Global impact of U.S. leadership on DeFi➡️ 20:57 — Stablecoins, GENIUS Act, and regulatory momentum➡️ 21:41 — Final thoughts on clarity and innovation& more.Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Subscribe to Day One's free monthly newsletter for legal updates. Resources:

Sponsor: This episode of the Law of Code podcast is brought to you by Day One Law, a boutique corporate law firm for founders and funds in crypto. Learn more at ⁠dayonelaw.com⁠.The regulatory winds in Washington have shifted dramatically, and Anchorage Digital has been in the middle of it all. Kevin Wysocki, Head of Policy at Anchorage Digital, joins the podcast to discuss:01:07 – White House crypto report & GENIUS signing02:20 – Anchorage as the first federally chartered digital asset bank03:20 – Stablecoins, de-banking05:08 – Institutional demand post-GENIUS07:03 – Partnering to on-shore stablecoin issuance10:36 – Market structure legislation: custody, vertical integration & yield14:06 – Timeline for Senate and House bills15:58 – Bipartisan engagement on Capitol Hill18:33 – Policy sticking points & compromises ahead20:18 – Market maturity tests & Anchorage's stance21:48 – Cross-border custody & protecting self-custody23:25 – Taxes, tokenization & national security on the horizon26:22 – Bankruptcy remoteness & why custody mattersKevin is a Capitol Hill veteran, having worked for the House Financial Services Committee, Rep. Andy Barr, and Rep. Tom Emmer, before moving into government affairs at Meta and now leading policy efforts for the first federally chartered digital asset bank.Disclaimer: The information provided in this podcast is for educational purposes only and should not be construed as legal or investment advice.

This episode is brought to you by Day One Law, a boutique corporate law firm helping crypto startups navigate complex legal challenges. Visit ⁠⁠dayonelaw.xyz⁠⁠ to get in touch, or ⁠⁠subscribe to their free newsletter⁠⁠ for crypto legal updates.Show notes: In early August, the Uniswap Foundation proposed that Uniswap Governance adopt a Wyoming-registered DUNA (Decentralized Unincorporated Nonprofit Association). A first-of-its-kind structure for DAOs, the DUNA could be crypto's LLC moment.Joining me to discuss this development is Brian Nistler, General Counsel of the Uniswap Foundation, and Rodrigo Seira, Special Counsel at Cooley. We discuss what a DUNA is, why Uniswap proposed it, and what it means for governance participants and token holders.Timestamps:01:07 – What a DUNA is and why DAOs need it02:16 – Wyoming's innovation07:14 – Membership without KYC09:22 – Uniswap Governance, not Uniswap Foundation11:25 – Why DUNA is the right fit13:57 – Liability for token holders?17:17 – Preserving Uniswap's decentralization21:13 – Administrators and ministerial agents24:30 – Will courts respect the liability shield?25:59 – Tax obligations and tradeoffs29:37 – Lessons for other DAOs34:04 – How DUNA fits into Uniswap Unleashed35:15 – Where the DUNI proposal stands36:19 – Should non-U.S. projects consider DUNAs?37:43 – Resources to learn moreDisclaimer: Nothing in this podcast is legal advice. Please consult a lawyer for advice specific to your situation.Resources:Uniswap DUNA ProposalMiles Jennings and David Kerr on the DUNA

The Roman Storm trial ended with one guilty verdict, raising big questions about what comes next for developers and open-source protocols. To unpack the implications, I'm joined by Peter Van Valkenburgh, Executive Director of Coin Center. Coin Center is hosting their annual dinner on Thursday, September 25, 2025 at the Plaza Hotel in New York City.Timestamps:➡️ 00:00 – Introduction➡️ 01:00 – Explaining the Roman Storm verdict➡️ 03:00 – FinCEN's 2019 guidance➡️ 07:40 – Implications for future regulatory guidance➡️ 14:20 – First Amendment and due process defenses ➡️ 21:30 – Future of peer-to-peer crypto➡️ 27:40 – Coin Center's six-month policy review➡️ 35:30 – The President's Working Group Report➡️ 38:50 – Why crypto must be more than an investmentSponsor: This episode is brought to you by Day One Law, a boutique corporate law firm helping crypto startups navigate complex legal challenges. Visit dayonelaw.xyz to get in touch, or subscribe to their free newsletter for crypto legal updates.Disclaimer: This podcast is for educational purposes only and is not legal or financial advice.

Crypto tax expert Jason Schwartz joins the podcast to break down what founders get wrong about taxes — and what's changing in 2025.Jason is a partner at Cahill NXT, where he specializes in the tax treatment of digital assets, financial products, and decentralized protocols. In this episode, he shares insights on how projects are approaching structuring, the rise of 501(c)(4) entities, common tax pitfalls with Cayman foundations, and how the IRS might soon leverage AI to change enforcement.Timestamps:➡️ 00:00 — Intro➡️ 01:18 — Sponsor: The Hedera Council➡️ 01:23 — Crypto tax trends ➡️ 04:23 — Can offshore projects return onshore?➡️ 05:12 — Common tax mistakes & how they could backfire➡️ 11:31 — What happens if the IRS comes knocking➡️ 13:55 — Major crypto tax developments under the new administration➡️ 18:56 — Status of Lummis' tax proposal and what might come next➡️ 24:50 — Staking: why current proposals may not solve the problem➡️ 31:11 — Airdrops: what upcoming legislation could get wrong➡️ 36:30 — How the IRS might use AI and what that means for crypto traders➡️ 42:24 — Why a mark-to-market election could provide needed clarity➡️ 44:39 — Lending, wrapping, and other grey areas: what's “reasonable”?& more.Sponsor: This episode is brought to you by the Hedera Council, the decentralized governing body for the Hedera network. They are currently hiring a Legal Counsel, and interested candidates can apply at https://hedera.com/future?gh_jid=4574329006. Be sure to tell them you heard of the position on the Law of Code podcast!

SEC Commissioner Hester Peirce and Crypto Task Force Chief Counsel Mike Selig return to the podcast to share updates from the SEC's Crypto Task Force — plus their thoughts on tokenized securities, market structure legislation, exemptive relief, and the role of decentralization in regulatory design.Timestamps: ➡️ 00:00 — Intro➡️ 00:46 — Sponsor: Day One Law➡️ 01:09 — Tokenizing securities: what facts and circumstances matter➡️ 02:51 — What exemptive relief could look like➡️ 04:51 — Timeline for SEC action on tokenization➡️ 05:14 — Key regulatory risks in tokenized markets➡️ 07:44 — Could ZKPs enable on-chain compliance?➡️ 09:55 — Will smart contract auditors exist at the SEC?➡️ 10:38 — How decentralization fits into new frameworks➡️ 15:27 — Best practices for speaking with the SEC➡️ 17:38 — Pathways for offshore projects to re-engage in the U.S.➡️ 18:45 — Passport regime vs. U.S.-specific compliance➡️ 20:45 — What Crypto Task Force meetings actually look like➡️ 22:09 — How the SEC views DePIN models and incentives➡️ 23:40 — Could yield-bearing stablecoins become regulated products?➡️ 24:54 — SEC–CFTC joint rulemaking: what's next& more.Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.Resources:

Derivatives expert Katherine Kirkpatrick Bos, General Counsel of StarkWare, joins the podcast to discuss the first-ever CFTC-regulated "perpetual-style" futures contracts to occur onshore — a move that may pull trading volume back from offshore exchanges and reshape global market dynamics.Prior to joining StarkWare, Katherine was Chief Legal Officer of Cboe Digital, a U.S. regulated exchange and clearinghouse for crypto spot and crypto derivatives markets.Timestamps:➡️ 00:00 — Intro➡️ 00:53 — Sponsor: Day One Law ➡️ 01:27 — What are 'perps'?➡️ 04:29 — Why have perps been offshore?➡️ 07:48 — How are these new contracts CFTC-regulated? ➡️ 12:24 — Comparing regulated perps to offshore offerings➡️ 15:56 — Benefits and protections for U.S. traders using onshore perps➡️ 20:06 — Could this repatriate crypto volume to U.S.-regulated venues?➡️ 24:48 — The future of crypto derivatives regulation: urgent areas needing clarity& much more. Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit ⁠⁠https://www.dayonelaw.xyz/⁠⁠ to get in touch.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Stablecoins have grown from a total value of ~$2 billion in 2019 to over $230 billion by early 2025, enabling $33 trillion in transactions across 236 million wallets. But beneath this growth lies a deep — and fragile — dependence on the U.S. Treasury market.Professor Yesha Yadav of Vanderbilt Law School and Brendan Malone, formerly of Paradigm, the Federal Reserve Board, and MIT, discuss their paper on the critical but underexamined relationship between U.S. dollar stablecoins and Treasuries. They unpack why Treasuries act as the “anchor” for stablecoins, explore operational and liquidity risks, and outline what policy changes might be necessary to avert a crisis.Timestamps: ➡️ 00:00 — Intro➡️ 01:10 — Sponsor: Hedera Council is hiring a legal counsel➡️ 02:40 — Why is the U.S. Treasury market so critical to stablecoins?➡️ 04:32 — Treasuries as “cash equivalents” and risk-free assets➡️ 07:33 — What does it mean to “hold” Treasuries?➡️ 11:38 — Liquidity and operational risks➡️ 14:34 — Changing structure of Treasury markets➡️ 16:12 — 24/7 crypto vs. limited-hour Treasury markets➡️ 20:06 — Systemic risk scenarios➡️ 28:27 — The urgent need for preemptive policy solutions➡️ 33:22 — Regulatory fragmentation: “everyone's responsible, so no one is”➡️ 38:51 — Possible reforms: more short-term issuance, repo market, reserves access➡️ 40:53 — Treasuries as “risk-free” assets — myth vs. reality➡️ 46:23 — Potential Fed facilities and why they aren't in place yet➡️ 51:06 — Bonus: Hedera Council's General Counsel Gregory Schneider on their open position.Sponsor: Hedera Council is hiring a legal counsel. Click here for more information about the role, or follow this link: https://hedera.com/future?gh_jid=4574329006. Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Jessi Brooks is the General Counsel & Chief Compliance Officer at Ribbit Capital. Prior to Ribbit, Jessi was an attorney at the U.S. Department of Justice, where she worked on high-profile crypto and national security cases. Jessi explains the blockchain tools used in the Bitfinex hack, why crypto > cash, how the DOJ works with stablecoin issuers, and much more. The conversation also covers Jessi's journey from prosecuting domestic violence cases to crypto, and her perspective on building bridges between regulators and the industry.Timestamps:➡️ 00:57 Lessons from the Bitfinex hack➡️ 06:28 Unhosted wallets and the DOJ➡️ 09:42 The role of seizure & forfeiture➡️ 13:44 Increase in crypto-related cases ➡️ 19:18 Jessi's early DOJ crypto cases ➡️ 23:23 Al-Qassam Brigades operation➡️ 31:31 How DOJ and industry can align➡️ 35:49 Her work at Ribbit Capital and advising startupsSponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.Visit ⁠https://www.dayonelaw.xyz/⁠ to get in touch.#crypto #cryptocurrency #law #blockchain #bitcoin #ethereumDisclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

What steps should founders and their counsel take when launching a token or product in web3?In this episode, Jacob Robinson is joined by Nima Maleki (@Nimathefish), Counsel at Day One Law. Nima designs legal roadmaps for clients, including product counseling, token launches, and fundraising structures.Nima shares what's market for launching blockchain products — ranging from regulatory and decentralization strategies to token valuations, whether founders still need a foundation for their project, and where tax concerns may arise throughout the process.Timestamps:➡️ 00:00 – Intro➡️ 01:03 – Sponsor: Day One Law➡️ 01:32 – Agenda: Six Steps to Product / Token Launch➡️ 04:10 – Questioning Decentralization Strategies➡️ 06:57 – Step One: Structuring Your Business➡️ 17:15 – Step Two: Fundraising➡️ 24:51 – Step Three: Token Valuation➡️ 28:48 – Step Four: Product / Token LaunchThis episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.Visit https://www.dayonelaw.xyz/ to get in touch.#crypto #cryptocurrency #law #blockchain #bitcoin #ethereumDisclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

In this episode, Jacob Robinson is joined by Justin Wales (@bitcoin_wales), Head of Legal (Americas) at Crypto.com and author of The Crypto Legal Handbook. Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.With the release of the book's second edition, Justin shares what's new: from stablecoin legislation and state-level licensing regimes to AI's intersection with crypto and the shifting regulatory tone under a new administration. We also discuss how legal frameworks are evolving, the risks of regulatory whiplash, and why meme coins, AI agents, and decentralized settlement are at the center of today's legal debates.Timestamps:➡️ 00:00 Intro➡️ 00:46 Sponsor: Day One Law➡️ 02:00 Second Edition Highlights & Historical Context➡️ 04:00 State-Level Developments & Money Transmission Rules➡️ 06:00 Outlook on Stablecoin and Market Structure Legislation➡️ 08:00 How to Read the New Edition➡️ 10:00 Operation Chokepoint, Debanking & Tax Updates➡️ 11:30 The Rise of Meme Coins & Industry Disincentives➡️ 14:30 SEC Enforcement, Risk Appetite & Innovation➡️ 17:00 AI x Crypto: Communication, Trust & Open Protocols➡️ 20:00 Crypto's Place in Financial Infrastructure➡️ 22:30 Jurisdictional Competition & Market Pressure➡️ 25:00 The Cost of Fitting Crypto Into Legacy Systems➡️ 27:00 Global Posture Shift & Optimism for the Future➡️ 29:00 Final ThoughtsThe Crypto Legal Handbook: You can find it online for $30, here: https://thecryptolegalhandbook.com/Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

If the law were truly “technology-neutral,” what would that look like in practice for a P2P securities transaction via smart contracts?In this episode, Jacob Robinson is joined by Tuongvy Le (@TuongvyLe12), who has served as General Counsel of Anchorage Digital, Partner and Head of Regulatory and Policy at Bain Capital Crypto, and Deputy GC and Compliance Officer at Worldcoin. She also spent almost six years at the SEC as Senior Counsel in the Division of Enforcement and Chief Counsel of the Legislative and Intergovernmental Affairs Office.Together, they discuss her recent Fortune article on why the SEC needs to take a hands-off approach to peer-to-peer transactions (link) and market structure history and regulation (link).Timestamps:➡️ 00:00 Intro➡️ 0:46 Sponsor: Day One Law➡️ 03:43 Peer-to-Peer Transactions: Analog vs. Digital➡️ 06:36 The Intersection of DeFi and Securities Law➡️ 12:40 Industry Self-Regulation and Best Practices➡️ 15:40 Understanding Market Structure: A Historical Context➡️ 24:31 Designing a New Market Structure for Crypto➡️ 32:25 The SEC's Evolving Stance on Crypto InnovationThis episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

In this episode, Jacob Robinson is joined by Dr. Chris Brummer (@ChrisBrummerDr), Professor of Financial Technology at Georgetown Law and Founder & CEO of Bluprynt, an AI and blockchain-powered platform for automating regulatory disclosures. Together, they unpack the SEC's recent statement: Offerings and Registrations of Securities in the Crypto Asset Markets — a document that some say could mark a paradigmatic shift in the agency's approach to digital asset regulation. We also discuss his article on this guidance. Timestamps: ➡️ 00:00 Intro➡️ 0:46 Sponsor: Day One Law➡️ 01:37 What is Bluprynt?➡️ 07:32 Why this SEC guidance is timely and valuable➡️ 09:41 The SEC is paying down regulatory debt➡️ 16:03 Smart contract disclosures➡️ 18:40 The investment contract question➡️ 21:25 How projects can navigate this paradigm shiftThis episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

In this conversation, Jacob Robinson and Amanda Tuminelli, Executive Director of the DeFi Education Fund, delve into the criminal code provision punishing unlicensed money transmitting businesses, why this is relevant for developers of non-custodial crypto projects, and how a recent memo from the Department of Justice on ending “the regulatory weaponization against digital assets" might not have gone far enough.Timestamps: ➡️ 00:00 Intro➡️ 0:46 Sponsor: Day One Law➡️ 01:05 What is Section 1960 and how does it impact crypto developers➡️ 03:42 What case law tells us about Section 1960➡️ 06:11 How money transmitting and money service businesses are defined ➡️ 09:14 The DOJ's memo on ending regulation by enforcement against crypto➡️ 13:40 The charge at the heart of the Tornado Cash and Samurai Wallet cases➡️ 18:48 Tornado Cash sanctions and OFAC's delisting: Not exactly as advertisedThe DeFi Education Fund is hiring! You can learn more about their open positions here: https://www.defieducationfund.org/jobs-internships This episode of the Law of Code podcast is brought to you by Day One Law — a boutique corporate law firm founded by recurring guest (and friend of the show) Nick Pullman. Nick and his team at Day One provide strategic legal counsel to startups, crypto projects, and Web3 innovators. Visit https://www.dayonelaw.xyz/ get in touch. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Jacob Robinson and Larry Florio delve into the SEC's recent statement on stablecoins and how SEC staff applied the Reves and Howey tests to determine whether stablecoins are considered securities. Show highlights:[2:00] What this statement means for lawyers[3:30] When stablecoins aren't securities[7:00] The platonic ideal of a stablecoin[11:00] Applying the Reves test to Covered Stablecoins[18:00] Applying the Howey test to Covered Stablecoins[25:00] The new-look SEC& much more.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.This episode of the Law of Code podcast is brought to you by Day One Law — a boutique corporate law firm founded by recurring guest (and friend of the show) Nick Pullman. Nick and his team at Day One provide strategic legal counsel to startups, crypto projects, and Web3 innovators. You can get in contact with them via this link.

Josh Lawler is a partner at Zuber Lawler, where he leads the firm's Emerging Technologies Group with a particular emphasis on blockchain technology. Josh previously practiced as a corporate securities and M&A attorney at Skadden, Arps. Jener Sakiri is an associate at Zuber Lawler and focuses on transactional and regulatory matters. He often works with clients involved in blockchain technology. He was previously the Chief Legal Officer of Niftify, a white label NFT marketplace solution for small-medium businesses. Show highlights: [3:52] Securities and crypto [9:05] "crypto contracts" and U.S. regulation [23:00] Realistic options for raising $1 million-plus [24:57] The market [26:34] A new regulatory framework for the advent of decentralized exchanges [33:05] Banning the tools such as Tornado Cash. & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Nick Pullman (@NickPullmanEsq) is Corporate Counsel and founder of Day One Law Corporation, where he provides legal solutions for tech startups and investors. Nick was previously head of legal at an NFT startup and an associate at Cooley and DLA Piper. In this conversation, we cover: [2:53] Nick's introduction to Bitcoin [7:33] What's market: SAFEs, SAFTs [19:39] Other methods of raising capital Nick's seeing [24:21] Token grants [32:47] Entity structuring & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Bill Hughes (@BillHughesDC) is Senior Counsel & Director of Global Regulatory Matters at Consensys Software, which is behind MetaMask, Infura, and various other software supporting the programmable blockchain ecosystem. For more on Bill's background, I recommend episode 74 of Law of Code. This conversation is focused on the lawsuit Consensys brought in Texas federal court. Show highlights: [2:53] SAB 121, FIT 21 bill [9:51] Accepting crypto in Washington [15:26] The Ethereum ETF [26:38] Democrat support for crypto? [36:47] Consensys' lawsuit against the SEC [44:20] What MetaMask offers users & much more.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

This conversation with two lawyers — Samir Patel and David Kuhn — and an entrepreneur who goes by OnlyLarping covers all aspects of Karate Combat, a novel form of sports league that is betting heavily on crypto. Show highlights: [2:51] What is Karate Combat?[7:26] Implementing token governance[13:11] Crypto and sports[19:34] Why they believe it is not gambling[32:49] Plans for Consensus 2024& much more.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorne

Recently, the Blockchain Association (BA) and the Crypto Freedom Alliance of Texas (CFAT) filed a lawsuit against the Securities and Exchange Commission seeking a court order to strike down the SEC's Dealer Rule due to the SEC's various Administrative Procedure Act (APA) violations including preventing industry participants from being able to operate under clearly communicated rules and a lack of a fair and transparent rulemaking process. This conversation covers that lawsuit and much more. Marisa Tashman Coppel (@⁠mtcoppel⁠) is Head of Legal at the Blockchain Association and Laura Sanders is Policy Counsel at the Blockchain Association. Both play a critical role in developing and advocating for policy positions on behalf of the crypto industry while managing long-term legal projects and strategic litigation. [1:47] The trend of litigation in the crypto space.[7:16] Remedies available for the crypto industry.[13:46] Definition and interpretation of the statutory term "dealer."[19:42] The impact of expanding the definition of "dealer."[27:04] Why sue the SEC?[33:46] The "ecosystem" argument, examined& much more.Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Justin Wales (@bitcoin_wales) is the Head of Legal for the Americas at Crypto.com. Before going in-house, he was a partner at the international law firm K&L Gates, where he represented crypto companies in all aspects of their business.  His new book, The Crypto Legal Handbook, is a must-read guide through the laws of crypto, web3 and an ever-decentralizing world. I had an opportunity to read it prior to this conversation — and loved to see the Law of Code podcast mentioned — so this podcast will cover why he wrote the Handbook and what's inside this essential primer for anyone working in the industry, as well as his unique background.  You can order The Crypto Legal Handbook here. [1:45] Why Justin wrote the book [3:30] Regulatory principles [6:30] Two assets that can't be commodities [8:00] Commodities vs securities [11:00] History behind a "security" [17:00] What Justin learned from writing this book & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Today's podcast covers the case of Roman Sterlingov, a 33-year-old Swedish-Russian national, was arrested by Internal Revenue Service criminal investigators at the Los Angeles airport and was accused of creating and operating Bitcoin Fog, a bitcoin “mixing” service that the US Justice Department claims Sterlingov used to enable $336 million in money laundering. I'm joined by J.W. Verret, an Associate Professor at George Mason and an expert witness who testified in the case, and Roman's defense counsel: Tor Ekeland, a trial and appellate lawyer known for representing hackers and white collar defendants, as well as Michael Hassard, an Associate with Tor Ekeland Law. [2:05] The history of Bitcoin Fog [4:19] Why Roman Sterlingov was investigated [10:24] The charges against Roman [12:00] Universal jurisdiction [19:40] Blockchain tracing as expert evidence. [32:07] The policy framing of money laundering and crypto [38:18] Financial privacy [48:00] Roman's life since the charges & much more. You can contribute to the defense fund at the website for Tor Ekland Law. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

The DeFi Education Fund and co-plaintiff Beba, an apparel company based in Texas, recently filed a pre-enforcement suit challenging the SEC's regulation by enforcement approach to crypto and their policy that free airdrops are securities transactions. Amanda Tuminelli serves as the DeFi Education Fund's chief legal officer where she leads the organization's impact litigation and policy efforts. Jake Chervinsky recently joined Variant as Chief Legal Officer, where he leads the firm's legal team, and works closely with portfolio founders to overcome the regulatory hurdles holding them back. He's a board member for the DeFi Education Fund. Show highlights: [1:04] Facts and background. [3:36] Why bring a pre-enforcement action? [8:02] Free airdrops under existing securities laws. [13:12] Challenging the SEC's rules. [22:11] If DEF and Beba win the case, what's next? & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

After the DEF submitted an amicus brief in the Roman Storm matter, which involves Tornado Cash, I spoke with the two authors: Amanda Tuminelli serves as the DeFi Education Fund's chief legal officer where she leads the organization's impact litigation and policy efforts. Jake Chervinsky recently joined Variant as Chief Legal Officer, where he leads the firm's legal team, and works closely with portfolio founders to overcome the regulatory hurdles holding them back. He's a board member for the DeFi Education Fund. Show highlights: [1:32] Roman Storm and Tornado Cash [10:53] The role of the DEF in matters like this [13:31] Three theories of criminal liability for software developers [18:50] Why the government brought this case [22:18] Terminology: Property interests, possession, control [23:07] The future of this case & much more. Mentioned: Cravath paper on control. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Co-founded by longtime cryptolawyers Gabriel Shapiro and Alex Golubitsky, the mission of MetaLeX (which means beyond law) is to combine legal structures and autonomous tech to create best-in-class solutions serving DAOs, devs, and internet denizens with a suite of interoperable autonomous law solutions, which they refer to as MetaLeX OS. The goal is a bold one: Separate law from nation-states in a manner similar to how Bitcoin separates money and Ethereum finance from nation-states. [1:14] What is MetaLeX?[6:16] BORGs, explained.[8:12] BORG vs. DAOs.[15:55] Cybernetic law.[25:36] Expecting the law to act in appropriate, equitable manner.[31:36] Autonomous code and the future.[35:36] What is "deal technology" an how is it used[42:15] Learnings from bridging the gap between the code and the law.& much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Stéphane Daniel (@stephdan_law) is a Partner at d&a partners, an independent law firm dedicated to tech and blockchain entrepreneurs in France and the EU. Stéphane advises high-tech firms with their structuring, fundraising, and M&A transactions. He was notably involved in the first legal structuring (under French law) of DAOs and regularly advises companies on equity, debt, token, or hybrid fundraising and M&A transactions involving blockchain companies. Show highlights: [4:01] Legal consequences of turning on UNI's fee switch [15:02] A different approach: veCRV [18:59] Examining the differences between the veCRV, CRV and UNI proposal [32:22] The importance of decentralization under EU law [36:50] What non-EU projects should know about MiCA [40:38] Stephane's genesis block [47:26] Habits and advice Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Chris Giancarlo (@giancarloMKTS) is senior counsel and Co-Chair of the Willkie Digital Works practice in the firm's New York office. Chris served as the thirteenth Chairman of the U.S. CFTC, where he oversaw regulation of the futures, options and swaps derivatives markets. During his tenure at the CFTC (2014-2019), Chris oversaw the first bitcoin futures products entering the marketplace. He's also published a book, CryptoDad: The Fight for the Future of Money, which I highly recommend. Show highlights: [1:14] Digital based monetary systems [16:25] Writing guides for entrepreneurs [26:06] Leading the CFTC [31:18] Gensler, the SEC and the CFTC [35:36] Why embrace Blockchain? [1:05:17] Activity-based regulation & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Eric Hess (@hess_legal) is Founder & Managing Counsel at Hess Legal Counsel, a cybersecurity SaaS platform and consulting company, and hosts The Encrypted Economy podcast. In this episode, we'll be exploring his recent paper Bridging Policy and Practice: A Pragmatic Approach to Decentralized Finance, Risk, and Regulation. For Part 1, a history of securities regulation in the US, see our prior episode #122. Show highlights: [1:30] Surprising insight about securities regulation [4:30] 2022 White House executive order [11:30] The real reason(s) why crypto projects can register with the SEC [17:00] Why the same risk, same rules philosophy is wrong [26:30] Solutions to problems posed by blockchain [36:00] What Eric has changed his mind on & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Primavera De Filippi is a Director of Research at the National Center of Scientific Research (CNRS) in Paris, Faculty Associate at the Berkman Klein Center for Internet & Society at Harvard University, and Visiting Fellow at the Robert Schuman Centre for Advanced Studies at the European University Institute. Her research focuses on the legal challenges and opportunities of blockchain technology and artificial intelligence, with specific focus on governance and trust. Primavera is the author of the book “Blockchain and the Law,” published in 2018 by Harvard University Press (co-authored with Aaron Wright). Show highlights: [1:00] Genesis block [3:00] Copyright law in the digital world [15:00] Metabirkin case [20:00] Code as law [30:00] Moral values [34:00] Blockchains and the Law [39:00] Blockchain-based life forms (Plantoids) & much more.

Jeffrey T. Dinwoodie is a partner at Cravath, Swaine & Moore, and a member of the firm's Financial Institutions Group. He has served in senior roles at the SEC and the U.S. Treasury Department, including as Chief Counsel to SEC Chairman Jay Clayton and, earlier, as Chairman Clayton's Trading and Markets Counsel. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Rebecca Rettig, Michael Mosier and Katja Gilman published their paper, Genuine DeFi as Critical Infrastructure: A Conceptual Framework for Combating Illicit Finance Activity in Decentralized Finance and a summary two-pager. This paper proposes a framework (see Section III) to effectively detect, deter and prevent illicit financial activity in DeFi, while preserving the technology as permissionless, neutral infrastructure. This podcast is an audio version of the paper, along with key takeaways and points made within it. [1:40] Overview of the paper [9:00] Current AML and CTF regime in America [18:00] Sanctions [23:00] DeFi and illicit finance [26:00] Framework for the future of DeFi

Joshua B. Sterling is a Partner at Jones Day where he represents financial services, energy, fintech, agriculture and other companies in matters before the CFTC, the SEC, and other financial regulators. A former senior regulator, Josh was previously the Director of the CFTC's Market Participants Division. In that role, he oversaw the 3,300 financial firms worldwide registered with the CFTC to participate in the global derivatives markets.  Show highlights: [1:00] Josh's introduction to Bitcoin [5:00] BitMEX case [11:00] 2008 financial crisis [16:00] Finance and Web3 [20:00] Role of CFTC in crypto [25:00] Role of the SEC [29:00] How to improve the SEC's results & much more. We also discuss the book The Price of Time: The Real Story of Interest. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Elliott Z. Stein (@NYCStein) is a Senior Litigation Analyst at Bloomberg Intelligence. He previously worked in private practice on structured finance/capital markets litigation, white-collar crime and related capital markets matters. Show highlights: [1:30] Attending Coinbase hearing on Jan 17 [6:00] Why Elliott expects Coinbase to win [12:00] Judge Failla's concern with the SEC's position [16:00] SEC's strongest arguments [18:00] When to expect a decision [20:00] Supreme Court narrowing Howey [23:00] What surprised Elliott about the Coinbase strategy [27:00] Ripple case [31:00] Elliott's career & much more. Show links: Elliott's 2024 Outlook Elliott's Podcast Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Eric Hess (@hess_legal) is Founder & Managing Counsel at Hess Legal Counsel, a cybersecurity SaaS platform and consulting company, and hosts The Encrypted Economy podcast. Eric has over twenty years of experience acting as senior in-house counsel, general counsel or senior management for exchanges, broker dealers, and financial services technology providers. In this episode, we'll be exploring his recent paper Bridging Policy and Practice: A Pragmatic Approach to Decentralized Finance, Risk, and Regulation. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Evan Zinaman (@zin_esq) is the Founder & Principal at Trailbreak, a boutique transactional firm providing tech-fluent corporate, regulatory, product and IP counsel and strategic advice to startups, builders and investors throughout the crypto space. Evan also serves as special crypto counsel to clients of Reed Smith, advising as part of an industry-spanning, global blockchain group that he helped found. In this episode, we discuss Evan's paper, “Where the Rubber Meets the Road: A MEV-Aware, Functionalist Review of OFAC Risk ‘on the Base Layer'”. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Rodrigo Seira (@RSSH273) is Special Counsel at Paradigm. Prior to joining Paradigm, he was outside counsel to crypto investors and entrepreneurs at Cooley LLP. Brendan Malone (@brendanpmalone) is a Policy Manager at Paradigm. Prior to joining Paradigm, Brendan worked at the Federal Reserve where he focused on policy issues for financial market infrastructures. Rodrigo and Brendan launched the Paradigm Policy Lab. The goal of the Lab is to be a gathering place for academics, policy experts, lawyers, and technologists to study how to address the biggest policy challenges in crypto. In this conversation, they share the origin story, goals and projects underway at the Lab. Rodrigo mentions this book: Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages is an academic book by Carlota Perez. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

William O'Rorke (@williamororke) is the Founding Partner of ORWL, a leading law firm assisting clients with businesses in the crypto space, VASPs and general Web3 services. He leads the regulatory practice at ORWL and is the head of the legal committee at ADAN, a French crypto association. In this conversation, we discuss the most significant impacts MiCA will have on projects in the crypto space, the information White Papers must include under MiCA, what is not covered by the EU's landmark regulation and much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Zach Rosenberg (@MeatEsq) is an attorney and principal at Rosehill Legal, a boutique transactional firm assisting early-stage founders, largely in the crypto space, with structuring, funding, building, and deploying products and networks. He previously worked as an M&A Tax Director at PWC where he spent eight years advising large private equity firms and public company clients on large acquisitions, divestitures, and restructuring transactions.  You can connect with Zach via email at zach@rosehill.legal. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Ryne Miller is the founder and managing partner of Miller Strategic Partners LLP, a law firm specializing in: 1. Regulatory advice and investigations counsel for the traditional trading and markets industry; 2. Regulatory and strategic advice for digital asset and blockchain companies; and 3. Crisis and incident response management. Ryne was previously General Counsel at FTX US, a Partner at Sullivan & Cromwell and Legal Counsel to Chairman Gary Gensler while at the CFTC, during the CFTC's Dodd Frank rule-writing program.  Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Jolie Yang (@JolieYang) is a former legal partner to Coinbase's product, engineering, and design teams on its Web3 initiatives, such as self-custodial wallet, decentralized identity, digital assets, as product counsel. While at Coinbase, Jolie was part of the team that launched Base. Prior to Coinbase, Jolie was an attorney at Davis Polk and Skadden, Arps. Show highlights: [4:00] Working on Coinbase's IPO [7:00] Building Base [11:30] Potential Token for Base? [16:00] How Base works [23:00] Decentralization for a project incubated by a centralized institution & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Amanda Tuminelli (@amandatums) is chief legal officer for the Defi Education Fund, where she leads the organization's impact litigation and policy efforts. She was previously an attorney at Kobre & Kim and Dechert LLP, and served as a Judicial Law Clerk for the Eastern District of New York. Show highlights: [1:00] DeFi Education Fund's petition to challenge a patent impacting DeFi [12:00] Amanda's introduction to crypto [21:00] Her role as Chief Legal Officer of the DeFi Education Fund [25:00] SEC's proposed rulemaking to amend existing rules regarding Alternative Trading Systems [32:00] Kirschner v. JP Morgan Chase Bank, N.A [39:00] Thoughts on the Financial Innovation and Technology for the 21st Century Act & the Blockchain Regulatory Certainty Act [47:00] Ripple Decision & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Michael Frisch is a partner at Croke Fairchild Morgan & Beres where he leads the firm's Government Litigation and Investigations Practice. Mike previously worked at the Commodity Futures Trading Commission (CFTC), where he brought one of the CFTC's first enforcement actions involving cryptocurrency — CFTC v. Bitfinex — and was part of the team responsible for the CFTC's action against Tether in 2021. Show highlights: [1:30] Mike's introduction to crypto [3:00] The history of the CFTC's rules around crypto [6:00] Masterclass on the CFTC [13:00] Working on CFTC v. Bitfinex [20:00] Coinbase's FCM registration [24:00] FTX and the CFTC & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Mark Cianci is Counsel at Ropes & Gray, where he represents hedge funds, private equity firms and their portfolio companies, and clients in other industries in complex commercial litigation, cryptocurrency litigation, qui tam actions, bankruptcy litigation, and government investigation and enforcement matters. Mark also counsels clients in the blockchain and cryptocurrency space on a variety of regulatory considerations, including compliance with securities laws. Show highlights: [1:30] Mark's introduction to crypto [3:00] How dispute resolution has evolved [9:00] The future of decentralized justice [18:00] Benefits of blockchains for decentralized dispute resolution [31:00] Commercial ADR [36:00] Interesting crypto projects & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Ashish Chandra is the General Counsel of CoinSwitch, India's largest crypto platform pivoting into a multi-asset wealth-tech superapp. With over 22 years of experience in the tech industry, Ashish also led the legal and regulatory affairs of WhatsApp for India. He helped build the e-commerce and fintech/payments business of Facebook, Instagram & WhatsApp in India. Show highlights: [1:30] How crypto regulation has evolved in India [8:00] India's landmark Supreme Court decision [13:00] Tax on crypto in India [17:00] Lobbying efforts in India [24:00] Most active crypto regulators in India [27:30] His role as GC of CoinSwitch & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Ross Campbell (@z0r0zzz) is a legal engineer and co-founder of KaliDAO, in addition to being a corporate attorney. Ross is also working on NANI, a protocol mixing AI and crypto. Previous episodes with Ross: 1. #5 - Ross Campbell: Legal engineering, Bar Association DAOs, use cases for oracles, and much, much more 2. #30 - Ross Campbell: Legal Engineering and Kali DAO Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

On August 4, 202, Coinbase filed a brief in support of its motion to dismiss the SEC's lawsuit. This podcast provides an audio version of the brief, along with key takeaways and points made within it. Show highlights: [1:00] Preliminary Statement [6:30] Background on the SEC's charges [11:30] Coinbase's argument for dismissal [13:00] Because the complaint alleges no contractual undertaking beyond the point of sale, no investment contract is pleaded [22:00] The SEC misreads Howey in asserting that a scheme without a contractual undertaking will suffice [29:00] Recent cases do not support the SEC's efforts to use scheme as an escape hatch from statutory text [33:00] The SEC's effort to portray a simple asset sale as a security is an unprecedented stretch [41:00] Any future value that token purchasers on Coinbase and through Prime may hope to reap is not in the profit, income or assets of the issuers business [42:00] The Major Questions Doctrine compels rejection of the SEC's construction of investment contract [49:00] Coinbase is entitled to judgment on the claim that it acts as an unregistered broker through Wallet [50:00] Coinbase is entitled to judgment on the claim that its staking services constitute unregistered securities

Stephen Palley (@stephendpalley) is a litigation partner and co-chair of Brown Rudnick's Digital Commerce group. Stephen is a seasoned litigator with over 20 years of extensive courtroom experience litigating and trying complex commercial matters. Stephen has written extensively and been quoted widely on legal issues arising from the use of Blockchain technology, with appearances in both print and television media. For more on Stephen's background, listen to episode 28 of Law of Code: #28 - Stephen Palley: Crypto regulation, building a team, and defining decentralization. Show highlights: [2:30] Analogies in crypto: Smart contracts and dumpsters. [14:00] Intangible scarcity: Why blockchain's enable scarce, intangible assets. [18:30] Licensing regimes: Future of front-ends and developers. [26:30] Evolution of crypto law: Has it aligned with Palley's expectations? [31:45] Insurance and digital assets: Parametric insurance, oracles and blockchain technology. & much more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Amira Valliani (@amiravalliani) is Policy Lead at the Solana Foundation. She previously built and sold a creator economy company and served as an advisor at the White House and State Department. Note that this episode was recorded prior to the Ripple Labs decision. Show highlights: [3:00] Policy work at Solana Foundation [7:00] Change in policy [10:30] Challenges and stories of building in Web3 [24:00] Amira's role at the White House [29:00] Building Glow & more. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Offering a masterclass on the Accredited Investor rules, this episode distills months of historic research and detailed reviews of the securities laws, as well as a 3+ hour conversation I had with Larry Florio (@larryflorio), into an evergreen episode providing everything one should know regarding the accredited investor standards in the U.S. and across the globe. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Cameron B. Pick is a partner at Marshall Gerstein & Borun LLP who advises clients in the blockchain and metaverse space on intellectual property issues. In this episode, Cameron explains Bitcoin Ordinals, the difference between Ordinals and Ethereum NFTs, and the interplay between IP law and web3. Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.