Law of Code

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.

Samir Patel (@SamirPatelLaw) is an innovation and technology attorney in Holland & Knight's Miami office and head of the firm's Document Automation Program. Samir represents startups and emerging growth companies navigating legal and regulatory issues. Samir also works with artists, art galleries and athletes looking to enhance their products and brands through the creation of NFTs, and advises on their market entrance strategy into the metaverse. In 2021, Samir was appointed to the first-ever Miami-Dade County Cryptocurrency Task Force. 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.

David M. Adlerstein is counsel in the Corporate Department at Wachtell, Lipton, Rosen & Katz. His practice focuses on mergers and acquisitions, capital-raising transactions, corporate governance, and other corporate and securities law matters, with a focus on financial institutions and technology transactions. He is a member of the Firm's Crypto Team and frequently writes and speaks about blockchain technology, cryptocurrencies and smart contracts. Kevin Schwartz is a partner in the Litigation Department of Wachtell Lipton and serves on the Executive Committee of the New York City Bar Association, where he was previously Chair of the Judiciary Committee, and is also a Visiting Lecturer in Law at Yale Law School. Mr. Schwartz's practice includes corporate, commercial, and securities litigation at both the trial and appellate levels, as well as a variety of regulatory and corporate governance matters that include leading the firm's specialized Crypto Team to address rapidly changing issues generated by the crypto asset industry.  Show highlights: [3:00] David and Kevin's introduction to crypto [14:00] Evolution of the legal side of digital assets [24:30] The merits of decentralization [33:00] Tornado Cash [41:00] Smart contracts [47:00] NFTs & 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.

Tom Lombardi (@tomlombardi) is an adjunct professor of finance at Pepperdine University, California, teaching Decentralized Finance in the Business School. He was formerly a Managing Director at 3iQ (worked on the first regulated crypto fund), Director at Wave Financial (one of the first crypto RIAs), and Head of Growth for the Enterprise Ethereum Alliance. Show highlights: [8:00] Importance of institutional investments in digital assets [16:00] Bitcoin and institutional investors [24:00] Bitcoin Spot ETF [39:00] SEC proposed custody rule [42:00] SEC actions pre-Coinbase and Binance charges [59:00] Bitcoin is Venice? [68:00] Regulation and 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.

Nicky Gomez (@XRegNicky) is the Senior Partner at XReg Consulting. A former regulator with 15+ years of experience in the crypto and financial services industries, Nicky provides strategic regulatory advice and has successfully secured licenses and authorizations for clients in Europe, Gibraltar, the Caribbean and Asia. As the co-chair of the Global Digital Finance AML working group, he helps shape global cryptoasset regulatory standards that mitigate risk and encourage innovation. Aaron Unterman is the managing director of XReg Consulting (Cayman) SEZC. Aaron previously worked in the derivatives branch of Canada's largest market regulator, the Ontario Securities Commission, and recently led the development of CIMA's regulatory framework for virtual asset service providers, including developing rules and guidance for custodians, trading platforms, issuances and the sandbox regime. Show highlights: [3:00] Introduction to crypto while working as regulators [12:00] XReg's international approach to consulting [15:00] Classifying regulatory approaches to crypto in different jurisdictions [21:00] Jurisdictions introducing comprehensive crypto rules [29:00] Jurisdictions where crypto assets are illegal [34:00] Global regulatory harmonization (IOSCO) [47:00] DeFi 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.

The goal of this podcast is to help DAOs and their members understand the potential legal wrappers which arise from bespoke legislation. This is the second episode of the DAO Research Monthly series, created by Jacob Robinson, Kyle Smith and Kyler Wandler. This episode reviews the legal wrappers created for DAOs. What do we mean when we say legal wrapper? What benefits do they offer DAOs and their members? What are the risks? We answer these questions and much more. [4:30] Evolution of the modern company [8:15] How DAOs build on the company [12:00] Legal wrappers as a bridge [20:00] Wyoming DAO law [25:00] UNA [29:00] Tennessee DAO law [31:00] DAOs in Texas [33:40] DAOs in Utah [43:00] Vermont blockchain-based LLC [53:16] Catawba Economic Zone [54:00] DAOs outside the US & much more. Thank you to our sponsors, the DAO Research Collective, Lobby 3 and Tally DAO, for supporting this educational initiative - and thank you to Kyler Wandler for his incredible research. 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 podcast answers the "why" behind the blockchain space. It is a compilation of answers given from previous guests of Law of Code who explain why they believe in this technology, why they work in this space and what gets them excited about the future. This podcast was largely inspired by Polygon's Value Prop, a crowd-sourced and entirely open database, created to showcase the diverse and unique use cases for blockchain technology – across all networks – which are making an impact throughout the world. The Value Prop highlights 39 separate use cases for blockchain technology, with a total of 304 applications. 100 episodes, thank you.

In this episode of Law of Code, partners at McCarthy Tetrault's Fintech practice Ana Badour and Lori Stein, along with DLx Law's Lewis Cohen, Angela Angelovska-Wilson and Greg Strong discuss the differences in crypto regulation between Canada and the US, from securities rules to banking and AML policies. Show highlights: [3:00] Binance and Coinbase SEC charges [11:00] Digital assets and investment contracts [21:00] Differences in the Canadian approach to secondary sales [32:00] Banking and AML history, rules and outlook [48:00] Access to banking in US and Canada [50:00] Q&A & 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.

Collins Belton (@collins_belton) is the founder and Managing Partner of Brookwood P.C., a boutique transactional practice focused on serving founders, startups and emerging technology companies working on frontier technology, particularly in the digital asset space. Collins was previously Counsel at Atrium and an Associate at Wilson Sonsini. Show highlights: [1:40] Binance charges from SEC [10:45] Is BUSD a security? [23:00] Binance complaint alleging tokens are securities [30:00] Binance asset freeze [36:45] Coinbase charges from SEC [44:00] Coinbase's S1 registration & staking [48:40] Agency overreach [56:00] Show cause orders in multiple states [60:00] What the future holds 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.

Craig Salm (@CraigSalm) is the Chief Legal Officer at Grayscale Investments, the world's largest digital currency asset manager, where he oversees the daily legal and regulatory operations of the business and its products. Prior to joining Grayscale, Craig was a corporate associate at Paul Weiss.  This episode builds on a previous episode covering everything you need to know about the Grayscale lawsuit against the SEC. Show highlights: [2:00] Genesis block [13:00] Learnings from Paul Weiss [17:00] Grayscale ETF Case [24:00] What if Grayscale wins? [33:00] Fraud and surveillance ETF mechanisms & 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.

Freeman Lewin (@Freeman_Lewin) is an Attorney at DLx Law, where he advises clients in all matters related to blockchain, smart contracts, and tokenization. In late 2022, the DLx Law team published a comprehensive analysis of every "investment contract" decision by U.S. appellate courts since 1946: The Ineluctable Modality of Securities Law: Why Fungible Crypto Assets are Not Securities. Their publication has since been cited in Coinbase's response to the an SEC Wells Notice, the Dissent of Commissioner Hester M. Peirce and other important matters. This conversation offers a masterclass on investment contracts - what they are, why they matter and how they relate to digital assets. Show highlights: [2:08] Consequences of being deemed an investment contract [8:49] The investment contract vs the object of the investment [16:02] The Howey case [21:59] Core traits of an investment contract [24:46] Changes to the Howey test since 1946 [31:20] Biggest myths and misunderstandings surrounding investment contracts [34:10] Future of crypto & investment contracts & 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.

Caitlin Long (@CaitlinLong_) is a 22-year Wall Street veteran active in bitcoin since 2012, and whose passion is a fair and stable financial system. She is also the founder and CEO of Custodia Bank, a chartered US bank specializing in digital assets. Show highlights: [1:40] Operation Chokepoint 2.0? [4:40] Importance of Access to the Federal Reserve System [9:25] Origins of Operation Chokepoint [17:20] Custodia Bank [24:00] Checks & Balances [29:23] What's Next for Custodia Bank [31:00] Habits & Advice & 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.