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Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the crew is joined by SEC Commissioner Hester Peirce—aka “CryptoMom”—for a rare, candid conversation. They unpack the SEC's vibe shift, why airdrops might be doomed, and whether memecoins are just collectibles or cleverly disguised securities. Plus, Hester dishes on Paul Atkins' potential leadership, the SEC's new crypto task force, and what real regulatory clarity might finally look like. Show highlights
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the crew is joined by SEC Commissioner Hester Peirce—aka “CryptoMom”—for a rare, candid conversation. They unpack the SEC's vibe shift, why airdrops might be doomed, and whether memecoins are just collectibles or cleverly disguised securities. Plus, Hester dishes on Paul Atkins' potential leadership, the SEC's new crypto task force, and what real regulatory clarity might finally look like. Show highlights
De Amerikaanse beurswaakhond SEC lijkt de cryptosector een stuk vriendelijker tegemoet te treden dan voorheen. Waarnemend voorzitter Mark Uyeda gaf afgelopen week aan dat er een constructieve benadering nodig is om regelgeving vorm te geven. Dat is een opvallende koerswijziging, want onder Gary Gensler was de SEC uitgesproken vijandig richting crypto. Gensler beschouwde vrijwel elke coin als een effect, met uitzondering van Bitcoin. Hij beriep zich op de zogenaamde Howey Test om coins onder effectenwetgeving te laten vallen, maar die lijn hield in de rechtszaal niet altijd stand. Steeds meer rechtszaken, zoals die tegen Ripple, worden gestaakt. In dat specifieke geval laat de SEC zelfs het hoger beroep vallen. Die ontwikkeling hangt samen met het werk van de speciale Crypto Task Force binnen de SEC, die is opgezet om beter inzicht te krijgen in de sector. Afgelopen week organiseerde die groep voor het eerst een rondetafelgesprek met vertegenwoordigers uit de industrie. Het doel is volgens de SEC om een brug te slaan tussen wetgeving en innovatie, zonder de veiligheid van beleggers uit het oog te verliezen. Ondertussen lijkt de toezichthouder ook scherper te kiezen in haar handhavingsbeleid. Zo werd besloten dat het minen van Bitcoin niet onder effectenwetgeving valt. Daarmee krijgen grote Amerikaanse miningbedrijven zoals Marathon Digital en Riot eindelijk duidelijkheid, na jaren van onzekerheid. Ook vanuit andere hoeken in Washington kwam nieuws dat het sentiment rondom crypto kan beïnvloeden. Tornado Cash, het decentrale protocol voor het anonimiseren van transacties, staat niet langer op de Amerikaanse sanctielijst. In de prijsanalyse ziet Tim Stolte dat de cryptomarkt opgelucht lijkt te reageren op de wereldwijde economische signalen. De rente in de VS blijft stabiel, importheffingen zorgen niet voor paniek en altcoins als Ethereum, Solana en Chainlink doen het opvallend goed, maar de vraag is: hoelang duurt dit nog? De recessieangst speelt nog altijd, behalve bij FED-voorzitter Jerome Powell. Bloomberg kwam met het nieuws dat Coinbase serieuze overnamegesprekken voert met Deribit, een van oorsprong Nederlands handelsplatform voor crypto-derivaten. Met een geschatte waarde van 4 tot 5 miljard dollar zou het gaan om een van de grootste deals in de cryptosector ooit. Deribit verwerkt gigantische volumes — vorig jaar 1,2 biljoen dollar — en is ondanks haar wortels in Nederland inmiddels gevestigd in Dubai. De overname zou Coinbase in staat stellen om haar aanwezigheid in de derivatenmarkt te versterken. Tegelijkertijd kondigde concurrent Kraken vorige week de overname aan van NinjaTrader voor 1,5 miljard dollar. Is er een consolidatieslag gaande in de VS? Co-host is Paul Buitink. Gasten Paul Buitink Links De crypto taskforce van de SEC Coinbase en Deribit Host Daniël Mol Redactie Daniël MolSee omnystudio.com/listener for privacy information.
A recent SEC roundtable brought together proponents and critics to debate the regulation of crypto assets. The discussion centred on how to classify these assets, particularly whether they qualify as securities under existing laws. Points of contention included the applicability of the Howey Test and the potential impact of SEC oversight on the burgeoning crypto industry. While some argued for strict regulation to protect investors, others advocated for a more nuanced approach considering the unique nature of digital assets and the roles of other regulatory bodies. The event highlighted the deep divisions and complex legal questions surrounding the future of crypto regulation in the United States. See omnystudio.com/listener for privacy information.
A recent SEC roundtable brought together proponents and critics to debate the regulation of crypto assets. The discussion centred on how to classify these assets, particularly whether they qualify as securities under existing laws. Points of contention included the applicability of the Howey Test and the potential impact of SEC oversight on the burgeoning crypto industry. While some argued for strict regulation to protect investors, others advocated for a more nuanced approach considering the unique nature of digital assets and the roles of other regulatory bodies. The event highlighted the deep divisions and complex legal questions surrounding the future of crypto regulation in the United States. See omnystudio.com/listener for privacy information.
Today's show: Jason and Alex break down the latest head-scratching SEC ruling on meme coins—did they just legalize pump-and-dumps to protect Trump's token? Plus, they dive into why venture debt can destroy startups, the rise of AI-driven companies, and how Tesla is gearing up to challenge Waymo in the self-driving car race. Then, Brandon Brown from GRIN joins the show to talk about scaling to 8-figure revenue, surviving brutal market corrections, and why he's stepping down as CEO after a decade. This one's packed with insights for founders, investors, and anyone watching the future of crypto, startups, and AI unfold.*Timestamps:(0:00) Jason and Alex kick off the show!(1:39) Palmer Luckey feud, and supporting Trump in Silicon Valley(9:36) AI's impact on startup growth and job displacement(10:11) Paddle. Go to https://www.paddle.com/twist to get started with your exclusive listener fee-free period.(12:20) Product market fit and Salesforce productivity(15:01) Howey Test and its application to cryptocurrencies(20:07) LinkedIn Ads. Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups(26:13) Jason's libertarian views on meme coins(31:13) Hubspot for Startups. Get up to 75% off plus 3 months of Perplexity AI for free. Go to https://www.hubspot.com/startups(32:16) Meme coin regulation and political implications(37:22) GRIN's Brandon Brown interview and company evolution(46:10) Leadership changes and challenges at GRIN(53:28) Venture debt risks and business cycle preparedness(59:00) Leadership skills and defining reality(1:04:13) Updates on Waymo and autonomous rides(1:09:06) Tesla and the global autonomous vehicle market*Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcp*Check out GRIN: https://grin.co/Checkout Angel University with Jason Calacanis & Mike Savino: https://www.angel.university/Check out the Founder Friday City Competition: https://www.founderfridays.tech/city-competition*Follow BrandonX: https://x.com/Brandon_BrownLinkedIn: https://www.linkedin.com/in/brandon-brown-0898731/*Follow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelm*Follow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanis*Thank you to our partners:(10:11) Paddle. Go to https://www.paddle.com/twist to get started with your exclusive listener fee-free period.(20:07) LinkedIn Ads. Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups(31:13) Hubspot for Startups. Get up to 75% off plus 3 months of Perplexity AI for free. Go to https://www.hubspot.com/startups*Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland*Check out Jason's suite of newsletters: https://substack.com/@calacanis*Follow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com*Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
As we approach the end of October and the temperatures drop, the legal landscape surrounding cryptocurrency shows no signs of cooling down. Much like the regulatory battles of the early 20th century, where industrial giants faced off against new laws, today's crypto industry finds itself in the crosshairs of federal oversight. The U.S. Securities and Exchange Commission (SEC) is at the forefront of this modern regulatory struggle, tasked with classifying and overseeing digital assets as securities. Its goal is to maintain fair and transparent markets, ensuring that any cryptocurrency deemed a security adheres to strict compliance guidelines. This regulatory pressure has intensified with the ongoing legal battle between the SEC and Ripple Labs over the status of its XRP token. Echoing historical tensions between innovation and oversight, the lawsuit represents a broader struggle within the cryptocurrency sector. Ripple, known for its cutting-edge payment solutions utilizing XRP, now faces a legal storm that could fundamentally reshape the compliance environment governing digital assets. The outcome of this case isn't just pivotal for Ripple; it carries profound implications for the entire cryptocurrency industry. It has the potential to establish new precedents for how digital assets are classified under U.S. law. As the proceedings unfold, the decisions made could redefine the operational boundaries for crypto firms, investors, and regulators alike for years to come. Background of the Ripple vs. SEC Lawsuit In December 2020, the SEC initiated its legal challenge against Ripple, claiming that the company's sale of XRP amounted to an unregistered securities offering. As the SEC dusted off the Howey Test its go-to method for identifying investment contracts the agency argued that XRP investors weren't merely purchasing a digital asset; they were investing in Ripple's success with the expectation of returns generated by the company's efforts. Ripple, however, had a different perspective. The company argued that XRP is a digital currency, not a security, and pointed out that the SEC's stance contradicted earlier guidance on digital assets. Ripple, along with much of the cryptocurrency market, found itself navigating a regulatory maze with shifting goalposts. If this seems like regulatory overreach, Ripple would certainly agree. As the case continued to unfold, Ripple geared up for a counter-appeal, ensuring that this conflict would be anything but short-lived. This lawsuit isn't just a legal skirmish it has the potential to reshape how digital assets are regulated and classified in the U.S. Current Developments in the Legal Battle On October 16, 2024, the SEC filed a Form C appeal, challenging parts of the court's ruling in Ripple's favor. Notably, the SEC didn't contest the court's decision that XRP, when sold programmatically on digital exchanges, doesn't qualify as a security. Ripple's Chief Legal Officer, Stuart Alderoty, quickly seized the opportunity to emphasize this victory, reaffirming that this crucial decision remains in place. That said, the SEC hasn't backed down. Its latest challenge now focuses on personal XRP sales by Ripple's CEO Brad Garlinghouse and co-founder Chris Larsen. According to the SEC, these sales, along with XRP distributions in exchange for non-cash considerations, violated securities laws. These claims are set for further legal review, and for now, the regulatory uncertainty surrounding XRP isn't disappearing. Ripple, meanwhile, is preparing its own Form C, setting the stage for what looks to be a drawn-out appeals process. With the SEC potentially taking the full 90 days to file its initial brief, this legal saga could easily stretch well into 2025, leaving XRP's future hanging in the balance. The Broader Implications for XRP and the Cryptocurrency Market The back-and-forth between Ripple and the SEC has far-reaching implications for both XRP's market dynamics and the broader cryptocurrency ecosy...
Podcast Shownotes: Blockchain DXB & Society X - LinkedIn Live Episode Title: Unfiltered Chat - Weekly Crypto, Blockchain & AI Snapshot Date: August 29th, 2024 Hosts: Markose Chentittha + RA George Special Guest: Andre Pemmelaar, Agentic AI Labs LinkedIn: Andre Pemmelaar https://www.linkedin.com/in/andre-pemmelaar-a8343a7a/ Episode Overview: In this episode of Blockchain DXB & Society X, we dive into the latest developments in the world of crypto, blockchain, and AI. This session covers key announcements, market movements, regulatory updates, and the intersection of AI and decentralized technologies. Topics Discussed: Jerome Powell's Announcement (23rd August): Interest rates cooling down with an official update expected on 18th September. Temporary surge in Bitcoin and cryptocurrency market prices. Emergency Tuesday Live: Discussion on "People, Privacy, and Politics." Updates on the legal situation surrounding Telegram's CEO: Bail set at $5.56 million. Under judicial supervision with weekly reports to the French police. TON Blockchain congestion issues and the recent airdrop for 10 million users via a Telegram-based mini-app. MakerDAO's Rebranding to Sky: Upcoming launch on 18th September. Introduction of the USDS stablecoin and Sky governance token. Existing MKR token holders can switch to 24,000 SKY tokens per MKR. Discussion on Rune Christensen's "End Game" blog and potential developments on Solana. India's Digital Public Infrastructure: Overview of India's 5 million retail CBDC users. Insights into the Digital Rupee and its non-blockchain-based digital identity system. India's plans to regulate cryptocurrency with a consultation paper expected in September/October. Exclusive Interview with Andre Pemmelaar: Introduction to Agentic AI Labs. Discussion on how Agentic AI Labs helps individuals and businesses. Merging decentralized AI with a blockchain-based identity vector. Privacy-first decentralized AI agents and regulatory considerations. OpenSea vs. SEC: Clarification on SEC's focus on centralized entities in the NFT space. Overview of the Howey Test and its application to NFTs. Crypto Market Movements: Market reactions to the Federal Reserve's announcements. Updates on Telegram CEO's arrest and market liquidation. Community Updates: Markose: Society X and Oort Foundation updates. George: Blockchain DXB developments. Andre: Insights on Tech Tuesday and updates from Agentic AI Labs. Links & Resources: Jerome Powell's Announcement - Official Link MakerDAO's Rebranding to Sky Video by Reserve Bank of India on Digital Public Infrastructure Call to Action: Stay tuned for more insights and updates on our next episode. Follow us on LinkedIn for real-time updates and join our discussions. Join our Patreon: https://www.patreon.com/BlockchainDXB LinkedIn Profile: https://tinyurl.com/bdeevbru Podcast Host: @black_incarnation ⚡ Buy me Coffee ☕ https://www.buymeacoffee.com/info36/w/6987 To show your support see below ⚡ Tether USDT (ERC20) 0x7acd89cececd5b125a2fc4caa9bc642879579f1e ⚡Leder Wallet! Link https://shop.ledger.com?r=ae54df359c4d ⚡ Bitcoin address: 02ddf96964b352b75dd660a56a5162bf9e76e549e31263b88ed93015e635771795 ⚡ Ethereum address 0x2662CFE66d24bB7930b9d9dC0B5Fe809A1501d28
This Day in Legal History: Nixon ResignsOn this day in legal history, August 8, 1974, President Richard Nixon announced his resignation from the office of the President of the United States, becoming the first and only president to do so. This unprecedented event followed the Watergate scandal, a complex political affair that began with a break-in at the Democratic National Committee headquarters and led to a series of revelations about abuses of power by the Nixon administration. Facing almost certain impeachment by Congress on charges of obstruction of justice, abuse of power, and contempt of Congress, Nixon chose to resign rather than prolong the national crisis.In his televised resignation speech, Nixon acknowledged that he no longer had a sufficient political base in Congress to continue effectively governing. He expressed regret for any injuries caused by his actions and highlighted his achievements while in office, yet he did not admit to any wrongdoing in the Watergate affair. Vice President Gerald Ford was sworn in as President on August 9, 1974, and later granted Nixon a full pardon for any crimes he might have committed against the United States while in office.Nixon's resignation marked a significant moment in American legal and political history, underscoring the constitutional processes in place to address presidential misconduct. It also led to reforms aimed at increasing transparency and accountability in government, such as the Ethics in Government Act and amendments to the Freedom of Information Act. This event reshaped public trust in the presidency and highlighted the importance of upholding the rule of law at the highest levels of government.A federal judge indicated that the attorneys in a class action lawsuit against Google over Chrome's “Incognito” mode are unlikely to receive their full $217 million fee request. During a hearing in Oakland, Judge Yvonne Gonzalez Rogers also showed skepticism towards Google's proposal to cut the plaintiffs' attorney fees by 25%. She criticized Google's legal team for suggesting she personally review thousands of time sheet entries.The case, which began four years ago, was settled in April with Google agreeing to delete billions of records from Incognito mode users and make some reforms, but without providing monetary damages to users. The plaintiffs' attorneys, from firms including Boies Schiller Flexner LLP, claimed their fees were justified by 78,880 hours of work and sought a “lodestar multiplier” of 3.5, bringing their total request to $217 million.Judge Rogers commented that she rarely awards multipliers above three and noted the case's partial success. Google's attorney, Andrew Schapiro, argued that the plaintiffs' fees were excessive, pointing out that Google spent only $40 million on the case. The lawsuit initially filed in 2020 alleged that Incognito mode improperly retained user data despite claims of privacy.The settlement requires Google to clarify data collection practices and allow Incognito users to block third-party cookies for five years. Individuals can also seek monetary damages in California state court. The plaintiffs originally sought $9 billion in damages, but Google's attorney argued the final settlement warranted a lower fee due to its limited success. The case is Brown v. Google LLC.Google ‘Incognito' Case Attorneys Unlikely to Win $217 MillionThomas Girardi concealed a $53 million settlement from a young man, Joseph Ruigomez, whose home exploded, and misled him about the funds' status, a Los Angeles federal jury heard. Ruigomez and his family, receiving inconsistent interest payments, repeatedly asked Girardi for settlement details after their 2013 agreement with Pacific Gas & Electric, but Girardi never complied. Girardi claimed he held the funds for Ruigomez's protection, citing his youth and alleged drug dependency, though Ruigomez clarified he was on narcotics for pain management due to extensive medical procedures.During the trial, the defense presented numerous financial documents, while the prosecution did not clarify the annuity terms or the full distribution of the $53 million settlement, which included a $25 million annuity and $12.7 million in legal fees. Kathleen Ruigomez, Joseph's mother, testified that she only learned of the full settlement amount two years later and didn't suspect the discrepancy initially. She later sued Girardi with the help of Robert Finnerty, a former Girardi Keese lawyer.Girardi faces charges of wire fraud for allegedly stealing $15 million in settlement funds meant for clients. He pleaded not guilty, with prosecutors claiming he delayed payments under false pretenses. Girardi, who avoided disciplinary action despite over 200 misconduct complaints, also faces fraud charges in Illinois federal court and multiple civil lawsuits. His firm, Girardi Keese, went bankrupt in 2020. Girardi's mental competency to stand trial is contested, yet he was seen taking organized handwritten notes during the proceedings. The case is USA v. Girardi, in the Central District of California.‘Kingpin' Girardi Hid $53 Million Settlement, Client Says (1)Delta Air Lines Inc. is facing a proposed class action lawsuit following a software outage on July 19 caused by CrowdStrike, which led to widespread flight delays and cancellations. The lawsuit, filed in the US District Court for the Northern District of Georgia, claims that Delta failed to adequately refund passengers or provide the promised meal, hotel, and transportation vouchers. Instead of issuing refunds, Delta allegedly offered e-credits without informing passengers of their legal right to cash refunds, resulting in many passengers accepting the e-credits.The plaintiffs argue that Delta did not fulfill its commitments to passengers affected by cancellations within the airline's control, leading to breaches of contract, fraud, unjust enrichment, and violations of state consumer protection laws. They are seeking class certification and damages, representing all passengers whose flights were canceled between July 19 and July 31, with specific subclasses for California, Colorado, Florida, and Washington state.The CrowdStrike software update that caused the outage disrupted millions of devices using Microsoft Windows, impacting thousands of flights globally. Delta, the official airline of Team USA, struggled particularly hard, affecting nearly 2,000 athletes and staff traveling to Paris for the Olympics. While other airlines recovered quickly, Delta continued to cancel flights into the following week, even though they announced normal operations by July 25.The US Department of Transportation is investigating Delta's response to the glitch after receiving 3,000 complaints from passengers. Delta has declined to comment on the lawsuit, which is being handled by Webb Klase & Lemond LLC and Sauder Schelkopf LLC. The case is Bajra v. Delta Air Lines Inc.Delta Sued Over Inadequate Refunds Following CrowdStrike OutageThe FCC's proposed rules for disclosing AI-generated content in political ads on radio and television have sparked a jurisdictional dispute with the Federal Election Commission (FEC). The FCC's rules, announced on July 25, would require broadcasters to announce when AI is used in political ads. FCC Chairwoman Jessica Rosenworcel emphasized the need for voter transparency, comparing the requirement to existing rules about disclosing ad sponsors.Supporters, including AI regulation advocates, see it as a positive step amidst increasing deepfake use in campaigns. However, critics, including the FCC's two Republican commissioners and their FEC counterparts, argue that regulating political disclosures should fall under the FEC's jurisdiction.The proposed FCC rules, now open for public comment until September 4, face uncertainty about whether they can be finalized before the upcoming election. This uncertainty is compounded by the US Supreme Court's decision in Loper Bright Enterprises v. Raimondo, which limits federal agencies' regulatory powers.The FEC had already been considering similar AI content regulations since last year and recently sought public input on deepfakes in political ads. FCC critics argue that the FCC's efforts overlap and potentially conflict with the FEC's authority. Democratic FEC Vice Chair Ellen Weintraub, however, supports the FCC's initiative, suggesting that both agencies can complement each other.Despite the challenges, proponents believe the FCC's move will raise public awareness about AI in political ads, though the timeline for finalizing these rules remains unclear. The case's complexity is heightened by the evolving legal landscape and potential challenges to the FCC's authority following recent Supreme Court rulings.FCC Election Deepfake Ads Proposal Sparks Turf Fight With FECRipple Labs has been ordered by a Manhattan court to pay the U.S. Securities and Exchange Commission (SEC) approximately $125 million in penalties for the improper sale of XRP tokens. This decision follows the SEC's lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, accusing them of raising over $1.3 billion through an unregistered securities offering by selling XRP. Although the SEC initially sought $2 billion in fines and penalties, the court's ruling resulted in a significantly lower amount.The SEC had dropped its claims against Garlinghouse and Larsen in October, but the case remained significant as one of the largest enforcement actions in the cryptocurrency sector. Ripple CEO Brad Garlinghouse acknowledged the court's decision, expressing respect and a commitment to continue the company's growth. The SEC emphasized that securities laws apply to investment contracts irrespective of the technology or labels used.This ruling marks a critical moment in the regulation of cryptocurrency sales and enforcement of securities laws within the digital asset space.By way of brief background, the determination of whether a cryptocurrency qualifies as an "investment contract" is pivotal in deciding its classification as a security. This central question hinges on the application of the Howey Test, which examines whether an investment is one of money in a common enterprise with the expectation of profits primarily from the efforts of others–if it is, it constitutes an investment contract. If a cryptocurrency meets these criteria, it falls under the regulatory purview of securities laws, significantly impacting its issuance and trading.Ripple ordered to pay $125 million in penalty for improperly selling XRP tokens | Reuters This is a public episode. 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The latest price moves and insights with Jennifer Sanasie.To get the show every day, follow the podcast here.CoinDesk's Jennifer Sanasie breaks down the intersection between crypto markets and the establishing regulatory framework, with a focus on the Howey Test and what it means for crypto markets.-This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.-This episode was hosted by Jennifer Sanasie. “Markets Daily” is produced by Jennifer Sanasie and Melissa Montañez, and edited by Victor Chen. All original music by Doc Blust and Colin Mealey.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
The latest price moves and insights with Jennifer Sanasie.To get the show every day, follow the podcast here.CoinDesk's Jennifer Sanasie breaks down the intersection between crypto markets and the establishing regulatory framework, with a focus on the Howey Test and what it means for crypto markets.-This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.-This episode was hosted by Jennifer Sanasie. “Markets Daily” is produced by Jennifer Sanasie and Melissa Montañez, and edited by Victor Chen. All original music by Doc Blust and Colin Mealey.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
We get this question a LOT. What is the difference between a syndication and a joint venture? It's an important question, because the answer could help save your deal, your investors, and yourself! When structuring a deal, the best way to tell if a syndication or if a joint venture will work is to use the Howey Test. This can help determine whether a deal should be classified as a joint venture or a syndication. But you have to be careful, because there are potential consequences of not following these rules. We cannot emphasize enough the importance of being aware of the legal requirements in order to protect oneself and one's investors in the event of any issues or disputes.So, what is the difference between a syndication and a joint venture?Find out on this week's episode of Multifamily Investing Made Simple, In Under 10 Minutes. Happy New Year! We hope everyone has a good holiday. Tune in next week to hear Dan and Anthony's best plan to get started in real estate investing in 2023. LEAVE A REVIEW if you liked this episode!! Keep up with the podcast! Follow us on Apple, Stitcher, Google, and other podcast streaming platforms. To learn more, visit us at https://invictusmultifamily.com/. **Want to learn more about investing with us?** We'd love to learn more about you and your investment goals. Please fill out this form and let's schedule a call: https://invictusmultifamily.com/contact/ **Let's Connect On Social Media!** LinkedIn: https://www.linkedin.com/company/11681388/admin/ Facebook: https://www.facebook.com/InvictusMultifamily YouTube: https://bit.ly/2Lc0ctX
Summary - In this episode of "Beyond the Code," Yitzy hosts Jason Gottlieb, partner and head of the digital assets department at Morrison Cohen, for an insightful discussion on the complexities and challenges of crypto regulation and litigation. They delve into Jason's unique journey from tech enthusiast to legal expert, the intricacies of the Howey Test, the impact of FTX's collapse, and the dynamic nature of crypto law. Jason shares his experiences and perspectives on advising clients, navigating regulatory gray areas, and the role of the courts in shaping the future of digital assets. Episode Highlights: Introduction and Background (00:01:198): Yitzy welcomes Jason Gottlieb and they discuss Jason's impressive collection of swag from clients, including hats and water bottles. Jason's Journey (02:17:838): Jason shares his deep roots in technology, his transition from tech nerd to securities lawyer, and his rise to head of the digital assets department at Morrison Cohen. Crypto and the Law (06:21:804): Jason discusses the evolution of crypto regulation, the SEC's approach, and the complexities of applying the Howey Test to digital assets. Regulatory Challenges (11:10:766): The conversation explores the inconsistency in SEC guidelines, the impact on U.S. consumers, and the international implications of crypto regulation. Advising Clients (19:04:174): Jason explains his practice areas, the importance of pre-enforcement advisory work, and the gray areas in crypto regulation. War Stories and Personal Insights (48:57:870): Jason shares a memorable experience during the collapse of FTX and his passion for music, revealing a different side of his personality. Closing Remarks (56:32:076): Yitzy and Jason wrap up the episode with reflections on the future of crypto law and the importance of clarity and consistency in regulation. Additional Resources: Jason Gottlieb's Twitter: Morrison Cohen's Crypto Litigation Tracker: https://www.morrisoncohen.com/insights/the-morrison-cohen-cryptocurrency-litigation-tracker SoundCloud: Check out Jason's music on SoundCloud for a unique glimpse into his creative side. Contact Information: Jason Gottlieb: jgottlieb@morrisoncohen.com and @Ohioha on Twitter/X. Beyond the Code Podcast: Follow us on Twitter and LinkedIn for updates and future episodes. Guest Bio: Jason Gottlieb is a partner at Morrison Cohen, where he leads the digital assets department and the white-collar and regulatory enforcement group. With a background in technology and extensive experience in securities law, Jason is a leading expert in crypto regulation and litigation. He is passionate about protecting clients in the digital assets space and navigating the complex regulatory landscape.
The U.S. Supreme Court has overturned a 40-year-old case that allowed federal regulators to enforce their interpretation of ambiguous laws.Without the so-called Chevron doctrine, the SEC could have a harder time pursuing an enforcement agenda in the near-vacuum of legal and regulatory clarity for the crypto industry. Meanwhile, the SEC has declared war on ETH staking, filing suit against Consensys, alleging that its MetaMask swaps and staking services violated U.S. securities laws.~This Episode is Sponsored By Coinbase~ Get up to $200 for getting started on Coinbase➜ https://bit.ly/CBARRON00:00 Intro00:22 Sponsor: Coinbase00:55 SEC Lost yesterday too01:28 BREAKING: Supreme Court overturns Chevron Deference05:27 Arbitrary and capricious06:04 Congress conflicting statements06:27 Howey Test dead07:02 SEC official files metamask lawsuit07:35 Gensler loses again!08:05 Gensler will lose Biden the election08:49 It's Over09:00 Solana ETF10:06 Outro#Crypto #ethereum #Bitcoin~SEC Loses Historic Supreme Court Law!
We get this question a LOT. What is the difference between a syndication and a joint venture? It's an important question, because the answer could help save your deal, your investors, and yourself! When structuring a deal, the best way to tell if a syndication or if a joint venture will work is to use the Howey Test. This can help determine whether a deal should be classified as a joint venture or a syndication. But you have to be careful, because there are potential consequences of not following these rules. We cannot emphasize enough the importance of being aware of the legal requirements in order to protect oneself and one's investors in the event of any issues or disputes.So, what is the difference between a syndication and a joint venture?Find out on this week's episode of Multifamily Investing Made Simple. LEAVE A REVIEW if you liked this episode!! Keep up with the podcast! Follow us on Apple, Stitcher, Google, and other podcast streaming platforms. To learn more, visit us at https://invictusmultifamily.com/. **Want to learn more about investing with us?** We'd love to learn more about you and your investment goals. Please fill out this form and let's schedule a call: https://invictusmultifamily.com/contact/ **Let's Connect On Social Media!** LinkedIn: https://www.linkedin.com/company/11681388/admin/ Facebook: https://www.facebook.com/InvictusMultifamily YouTube: https://bit.ly/2Lc0ctX
This (Yester)Day in Legal History: The Closing of Operation Blue Book On December 17th in legal history, we turn our attention to a unique and thought-provoking event: the closure of Project Blue Book by the U.S. Air Force in 1969. This project, initiated in 1952, represented the Air Force's systematic study of Unidentified Flying Objects (UFOs), aiming to ascertain if they posed a threat to national security and to scientifically analyze UFO-related phenomena.The termination of Project Blue Book was influenced significantly by the findings of the Condon Committee, a group of scientists led by physicist Dr. Edward Condon. Their report, published in 1968, concluded that further UFO studies were unlikely to yield significant scientific findings, leading to the project's closure on December 17, 1969.This decision marked a crucial moment in the realms of government transparency and public information access. It sparked ongoing debates about the government's duty to disclose potentially security-impacting information to the public. Legal scholars and advocates for government transparency have frequently cited this closure as a key example in discussions about classified information and the public's right to knowledge.Furthermore, the end of Project Blue Book had a lasting cultural impact. It influenced the portrayal of UFOs and extraterrestrial life in popular media and shaped public perception of these phenomena. The closure also prompted the formation of private organizations dedicated to UFO research, highlighting a continuing public interest in the topic.In legal discussions, the Project Blue Book closure continues to be a reference point concerning the declassification of government documents and the balance between national security and public transparency. This event, occurring on December 17th, 1969, remains a significant and intriguing chapter in legal history, underscoring the intersection of science, government policy, and legal principles regarding public information and national security.In a verdict late last week, a federal jury in Washington ordered Rudy Giuliani, former top campaign lawyer for Donald Trump, to pay $148 million to two Georgia election workers, Ruby Freeman and her daughter Wandrea “Shaye” Moss. This decision followed a trial determining the damages for harm to their reputations, including lost wages and mental anguish, caused by Giuliani's promotion of conspiracy theories about them in relation to the 2020 election.After the verdict, Moss expressed how Giuliani's lies had significantly altered their lives, and Freeman highlighted that the monetary compensation could not resolve all the issues caused, including the loss of her home and ongoing concerns for personal safety.Initially, Freeman and Moss sought $48 million in damages, but the jury awarded them over three times this amount, making it one of the largest recent awards, though less than the amount ordered in the Alex Jones case related to Sandy Hook.Giuliani was found liable for defamation by US District Judge Beryl Howell in August, and a jury trial followed to determine the damages. Giuliani, who plans to appeal and seek a new trial, insisted that he was fighting on principle to expose what he believes were flaws in the 2020 election, asserting its significance for American democracy.During the damages trial, Giuliani declined to testify, despite previous public statements indicating he would. He played a central role in spreading false claims of election fraud in 2020, which Trump and his allies continue to assert.Moss and Freeman testified about the severe impact of Giuliani's smear campaign on their lives, including fears for their safety and emotional distress. Moss also expressed her intention with the lawsuit to deter similar attacks on election workers in the future.Giuliani's lawyer, Joseph Sibley, acknowledged the harm to Freeman and Moss but argued that others besides Giuliani were also responsible. He described the damages as the "civil equivalent of the death penalty" for Giuliani, referring to his client's financial hardships from various legal challenges.Giuliani ordered to pay $148 mln to Georgia election workers in defamation trial | ReutersGiuliani Must Pay $148 Million for Smearing Election Workers (1)Alex Jones, a right-wing conspiracy theorist, has proposed a bankruptcy exit plan to settle defamation judgments with families of Sandy Hook Elementary School shooting victims. He offers to pay them at least $55 million over 10 years, which is significantly less than the roughly $1.4 billion judges ruled they are owed and $30 million less than the families' proposal. Jones filed for bankruptcy protection a year ago following these judgments.According to the plan, families choosing to settle would share a minimum of $5.5 million annually over 10 years from a Chapter 11 plan filed in the US Bankruptcy Court for the Southern District of Texas. This plan requires court approval. Additionally, settling families could receive all disposable income from Jones' bankrupt company, Free Speech System LLC, and a portion of Jones' own income over the next ten years.The proposal suggests that settling would mean faster payments for the families but would prevent them from pursuing the full worth of their litigation claims against Jones. The plan claims that unsecured creditors would receive more than they would in a Chapter 7 liquidation.Families who do not settle would not have a guaranteed minimum amount but could pursue claims that the court has stated cannot be forgiven in bankruptcy. Jones's plan also ensures full payment to higher priority creditors.Avi Moshenberg, representing a group of Sandy Hook families, stated they are examining Jones's plan and will share their views in due time. The families had earlier proposed that Jones pay at least $85 million over 10 years or liquidate his assets, a proposal Jones' bankruptcy lawyer deemed unrealistic.Judge Christopher M. Lopez previously found that Jones is still liable for about $1.1 billion of the $1.4 billion in debts from defamation judgments, despite his bankruptcy. The court is yet to decide on the remaining $300 million.Additionally, the court allowed Jones to sell personal items on his Infowars shows to pay for legal fees and creditor payments as part of his Chapter 11 plan. Free Speech System LLC, Infowars' parent company, also filed for Chapter 11 relief last year in response to state defamation judgments. Jones' attorneys have not commented on the recent plan filing.Alex Jones Offers Sandy Hook Families $55 Million Over 10 YearsCoinbase Global Inc. is challenging the Securities and Exchange Commission's (SEC) refusal to establish new rules for trading digital assets. The company filed a petition with the US Court of Appeals for the Third Circuit, requesting the SEC to initiate rulemaking. This action came hours after the SEC denied Coinbase's request for clarification on standards to determine if digital assets are securities.Coinbase alleges that the SEC's denial of its request is arbitrary, capricious, and an abuse of discretion, violating the Administrative Procedure Act. The exchange asserts that the SEC's approach to regulation by enforcement, without clear rules, is unfair. SEC Chair Gary Gensler views most digital assets as securities and believes crypto exchanges should be registered with the agency. However, the SEC has not formally identified which digital assets meet the security definition, leading Coinbase to criticize the current legal framework as unworkable.The SEC, on the other hand, maintains that existing federal securities laws are sufficient for digital assets. The agency relies on the Howey Test, derived from a 1946 Supreme Court ruling, to determine if an asset is a security. Gensler asserts that this test has been adequately applied to crypto assets.By way of very brief background, the Howey Test is a legal criterion established by the U.S. Supreme Court in 1946 in the case of SEC v. W.J. Howey Co. to determine whether a transaction qualifies as an "investment contract," and thus would be subject to securities laws. Under the Howey Test, a transaction is considered an investment contract if it involves an investment of money in a common enterprise, with the expectation of profit derived primarily from the efforts of others. This test has become a cornerstone in U.S. securities law, particularly in evaluating various investment schemes, including more modern applications like ICOs (Initial Coin Offerings) in the cryptocurrency market. Essentially, if an arrangement meets the criteria set forth in the Howey Test, it must comply with federal securities regulations, including registration and disclosure requirements. These requirements are expensive, expansive, and potentially onerous–especially for cryptocurrency exchanges that may not possess the requisite infrastructure and procedures to comply. Republican SEC commissioners Hester Peirce and Mark Uyeda disagreed with the decision to deny Coinbase's petition, emphasizing the need for open conversations with market participants. The SEC took action 17 months after Coinbase's initial request, which the exchange claimed was intentionally delayed to frustrate judicial review.Coinbase Challenges SEC Refusal to Issue Digital Asset Rules (2)Activision Blizzard Inc., a major video game company, has reached a settlement to resolve a workplace harassment lawsuit with the state of California. The company will pay nearly $55 million, with about $45.75 million dedicated to a settlement fund for compensating workers. This resolution comes after allegations that Activision allowed a 'frat boy culture', leading to unequal pay, sexual harassment, and retaliation against women.The lawsuit, involving both federal and state courts in California since 2021, was part of broader litigation that included the U.S. Equal Employment Opportunity Commission (EEOC). The comprehensive settlement and proposed consent decree will withdraw the state's claims and resolve all open regulatory investigations or complaints related to employee workplace conduct.Activision stated that neither courts nor independent investigations, including the CRD's (Civil Rights Department, formerly the Fair Employment and Housing Department) own investigation, substantiated claims of systemic or widespread sexual harassment at the company. Similarly, it was not proven that the company's Board or CEO acted improperly in handling workplace misconduct.Women who worked for Activision in California as employees or contract workers between October 12, 2015, and December 31, 2020, may be eligible for compensation. The state will also drop its appeal of a federal judge's decision preventing it from intervening in Activision's court-approved consent decree with the EEOC, where Activision agreed to pay $18 million to resolve similar allegations.Activision and the CRD have also agreed to address unproven claims of unequal compensation and promotion practices from 2015-2020. The company denies any inequities in pay or promotions. An independent consultant will be hired to evaluate and recommend changes to Activision Blizzard's compensation, promotion policies, and training materials. The legal representation in these cases includes Paul Hastings LLP for Activision and Outten & Golden LLP for the state, with EEOC counsel representing the agency. The cases are noted under specific court and appellate numbers, with the most recent actions taken on December 15, 2023.Activision, California in Pact to End Workplace Harassment Suit Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe
站在科技与金融交叉路口的区块链，一度在缺乏监管的情况下野蛮生长，如今却面临SEC（证券交易委员会）和CFTC（美国商品期货委员会）甚至美国司法部等监管机构的重拳出击。SEC起诉Ripple、Coinbase和SEC缠斗、GrayScale反诉SEC，甚至还有Tornado Cash被美国司法部提出刑事指控……今年，似乎成为了区块链领域的“大案年”。 当Uniswap也面临当初科技公司的“230法案”时刻，法院判决第三方平台并不对代币诈骗负有连带责任；当Tornado Cash的创始人面临终极严重指控，技术被用来作恶，开发者是否要担责？为何当初在MIT开设区块链课程的Gary Gensler、接手SEC后却“翻脸不认人”四处出击？ 来和0x Labs 的副总法务Zhangrui、D3Serve Labs CEO Zainan Zhou一起聊一聊这几桩引人注目的监管案件，以及备受关注的Ripple案件在审理过程中的争议、裁决结果的巨大示范意义。 【主播】 泓君Jane，资深媒体人 【嘉宾】 Zhangrui， 0x Labs 的副总法务 Zainan Zhou，D3Serve Labs CEO，以太坊核心开发者 【你将听到】 盘点区块链案件 02:49 SEC v Ripple 04:54 Gary Scale v SEC 06:01 SEC v Coinbase 07:31 Uniswap 集体诉讼 10:21 司法部 v Tornado Cash 16:19 监管机构盘点：SEC、CFTC Ripple案件分析 17:53 Ripple案件里，法院分三层定义XRP是不是证券 ，道理何在 21:31 只要公开说“割韭菜”，反而不会违反证券法？ 24:41 说人话，解释证券的审判者豪威测试（Howey Test） 27:40 二级市场出售不算证券，法律圈对Ripple案的争议点 32:43 纽约南区法院的判决为什么重要：华尔街的司法辖区 37:27 比特币算商品，以太坊是否算商品正在惹争议 45:17 Ripple成为SEC的靶子：金额巨大，监管机构也想挑能赢的案件 48:39 SEC掌门人 Gary Gensler ：从在MIT教区块链，到最严厉的监管者 56:35 SEC备受质疑，以及监管的尴尬位置 60:02 加密货币野蛮拓荒的时代正在结束 63:17 法律职位，在塑造Web3行业的规则 66:52 美国还有哪些区块链行业的监管机构：FinCEN、OFAC 【名词解释】 Ripple Ripple通常指的是由Ripple Labs Inc.（原OpenCoin）开发的实时总账系统、货币兑换和汇款网络。在区块链技术的支持下，Ripple网络以类似于权益证明(PoS) 共识算法的方式验证交易，为世界各地的金融机构提供快速、可靠和廉价的跨境支付。 XRP XRP是在Ripple平台上运行的加密货币，有时也被称为Ripple，但严格来说，Ripple是公司和网络的名称，而XRP是代币的名称。 GrayScale Grayscale Investments是一家数字货币投资公司，它主要面向机构和成熟投资者，通过信托（trusts）或基金的方式，允许投资者在传统投资账户中购买加密货币市场的股份。也就是说，它的投资者无需直接买卖加密货币，就可以参与加密市场的投资。 BTC ETF BTC ETF全称是比特币交易所交易基金。它是与比特币相关的资产池，由券商在传统交易所发售，以ETF的形式进行交易。即使不实际持有，传统投资者也可以投资比特币。 Uniswap Uniswap是一种用于交换加密货币的分散金融协议。Uniswap也是最初构建Uniswap协议的公司的名称。该协议通过使用智能合约促进以太坊区块链上的加密货币令牌之间的自动化交易。 Tornado Cash Tornado Cash (Tornado) 是一种在以太坊区块链上运行的虚拟货币混合器，通过混淆其来源、目的地和交易对手，不加选择地促进匿名交易，而不试图确定其来源。它通过对零知识证明的创新使用，能够以不可追溯的方式将ETH以及ERC20代币（目前支持DAI，cDAI，USDC，USDT，WBTC）发送到任何地址。 SEC SEC 是美国证券交易委员会（U.S. Securities and Exchange Commission）的缩写。这是一个美国联邦政府机构，负责执行美国联邦证券法律，并监管国家的证券行业和股票和期权交易所。SEC 执行多项任务，包括监管直接涉及证券市场的公司（如经纪商、交易所和基金管理公司），审核公开交易公司的披露文件，维护披露标准，并调查可能的证券法违规行为。在加密货币领域，SEC 也扮演着重要角色，因为它试图证明加密资产是属于其监管范围内的证券，并想让加密货币符合适用的证券法规。 CFTC CFTC 是美国商品期货交易委员会（U.S. Commodity Futures Trading Commission）的缩写。它是美国的一个独立联邦机构，监管美国的衍生品市场，包括期货、期权和互换市场。在加密货币和区块链技术的背景下，CFTC 扮演着关键角色，因为它负责监管那些被视为商品的数字资产的衍生品，如比特币和其他加密货币期货和期权产品。CFTC 已经批准了几个加密货币衍生品产品的交易，这标志着这些资产在主流金融服务行业中逐渐被接受。此外，CFTC 与其他监管机构（如SEC）合作，以确定和解释加密货币资产的监管框架。 Coinbase 总部位于美国的加密货币交易平台，它为个人和企业提供买卖各种加密货币的服务，包括比特币（Bitcoin）、以太坊（Ethereum）、莱特币（Litecoin）和其他多种加密资产。自2012年成立以来，Coinbase 已经成为世界上最大和最知名的加密货币交易所之一。2021年4月，Coinbase 在纳斯达克证券交易所直接上市，股票代码为 "COIN"，这是一个加密货币公司首次在美国主要交易所上市，被视为加密货币市场进入主流金融世界的一个重要里程碑。 Howey Test Howey Test 是美国法律中用于确定某项交易是否构成投资合同的标准测试，并因此是否应该受到联邦证券法的管辖。这个测试源自1946年美国最高法院的一项判决，即SEC v. W.J. Howey Co.一案。 根据Howey Test，一个交易被视为投资合同，需要满足以下四个条件： 投资资金：是否有一个资金的投资。 共同企业：投资是否在一个共同的企业中。 预期利润：投资者是否有合理的预期可以通过企业的努力获得利润。 第三方的努力：预期的利润是否主要来自促销者、推广者或第三方的努力。 这个测试在评估新兴金融产品时尤其重要，比如在加密货币领域，特别是在确定某种代币或代币发行（ICO）是否应该被归类为证券时。如果一种代币满足了Howey Test的标准，那么发行和销售这种代币就需要遵守相应的证券法规，包括注册和披露要求。Howey Test 成为美国证券交易委员会（SEC）在识别和管理与加密货币相关的证券活动中的一个关键工具。随着加密货币市场的发展，SEC 和其他监管机构继续探讨和阐明何种类型的加密资产应被视为证券。 Gary Gensler 在加入 SEC 之前，Gensler 曾在麻省理工学院（MIT）的斯隆管理学院教授区块链技术、数字货币和金融技术相关课程。他于 2021 年 4 月开始担任美国证券交易委员会（SEC）的主席。 Opyn Opyn 是一个建立在以太坊区块链上的去中心化金融（DeFi）平台，它提供了创建、交易和管理去中心化期权的能力。它提供了一种称为 oSQTH 的数字资产衍生品代币交易，其价值部分基于以太坊的价格。 0X ZeroEx (通常写作 0x) 0是一种促进基于以太坊的资产点对点（P2P）交换的协议。该协议由 0x Labs 构建，为任何需要交换功能的开发人员提供开放标准和核心 DeFi 构建块。 Deridex Deridex是一个去中心化的链上衍生品交易平台，提供了“永续合约”的交易，美国商品期货交易委员会（CFTC）将这些合约描述为杠杆衍生品头寸，它们提供了基于 STABL2 稳定币与另一种虚拟货币的相对价值的一次或多次支付交换。 FinCEN FinCEN 是美国财政部金融犯罪执法网络（Financial Crimes Enforcement Network）的缩写。它是一个美国联邦机构，负责收集和分析有关金融交易的信息，以打击洗钱等金融犯罪。随着加密货币市场的发展，FinCEN 也开始涉足对加密货币交易的监管。加密货币交换和钱包服务被视为“货币服务业务”（Money Services Businesses, MSBs），因此必须遵守 FinCEN 的规定，包括注册、维护反洗钱程序、记录保存和报告可疑活动。 OFAC OFAC是美国财政部下属的海外资产控制办公室（Office of Foreign Assets Control）的简称。这个机构负责执行美国的经济和贸易制裁，根据美国外交和国家安全目标，对外国国家、个人、恐怖组织、国际毒品贩运者、涉及大规模杀伤性武器的程序、人权侵犯者等实施制裁。 【法律案件解释】 Ripple v SEC 2020 年 12 月， SEC 对 Ripple 提起诉讼，指控 Ripple 通过出售 XRP 进行了非注册的证券发行。SEC 认为 XRP 是一种证券，而不是货币，因此其销售应遵循证券法规。今年7月，这场长达三年的诉讼终于有了定论。Ripple 在纽约南区美国地方法院取得胜利，法官 Analisa Torres 做出了有利于 Ripple Labs 的裁决，判定在公共加密货币交易所流通的 XRP 不属于法律规定的证券，用 XRP 对其他人进行投资、使用 XRP 发放补助、以及用 XRP 向高管进行转账的行为都不被视为证券。但法官认为 Ripple 直接向成熟投资者出售的 XRP属于证券， 所以这一行为违反了联邦证券法。 Coinbase v SEC 美国证券交易委员会在2023年6月指控 Coinbase作为未注册的国家证券交易所、经纪人和清算机构运营其加密资产交易平台。SEC 还指控 Coinbase 未能登记其加密资产质押即服务计划的发售和销售。该案件还在进行中。 Uniswap 集体诉讼 一群投资者将 Uniswap Labs、其创始人 Hayden Adams、其风险投资机构 Paradigm、Andreessen Horowitz 和 USV 集体告上法庭，根据联邦证券法提出了索赔。投资者称他们在 2020 年 12 月至 2022 年 3 月期间通过该协议购买的代币被证明是有欺诈性的，这导致了他们的经济损失。但法院完全驳回申诉，并解释说，仅仅因为投资者在 Uniswap 上购买了诈骗代币，并不意味着去中心化协议本身要承担责，“由于该协议的去中心化性质，诈骗代币发行者的身份基本上是未知和不可知的，使原告受到可识别的伤害，但没有可识别的被告。” Tornado Cash v 司法部 美国司法部指控Tornado Cash创始人Roman Storm和Roman Semenov串谋洗钱、违反制裁规定并经营无牌汇款业务。起诉书表示，二人涉嫌创建、运营和推广Tornado Cash，为超过10亿美元的洗钱交易提供便利，并为受制裁的网络犯罪组织Lazarus Group洗钱数亿美元。该案件还在进行中。 【后期】 AMEI 【BGM】 Mumbai — Ooyy 【Shownotes】 Vicky 【在这里找到我们】 收听渠道：苹果｜小宇宙 海外用户：Apple Podcast｜Spotify｜Google Podcast｜Amazon Music 联系我们：podcast@sv101.net
Gary Gensler's comments in a recent interview reflect his long-held view that the crypto industry is largely out of compliance with US securities laws. He has repeatedly stated that most crypto tokens meet the definition of securities under the Howey Test, and that exchanges and other platforms that sell or trade these tokens need to register with the SEC.Gensler's comments have been met with mixed reactions from the crypto community. Some have accused him of being hostile to the industry and of trying to stifle innovation. Others have welcomed his calls for regulation, arguing that it would provide much-needed clarity and protection for investors.Gensler's refusal to be swayed by the prospect of court decisions that could go against the SEC suggests that he is prepared to take a tough stance on the crypto industry. This could have significant implications for the future of crypto in the US.Here are some possible implications of Gensler's tough stance on crypto:Increased enforcement actions against crypto exchanges and other platforms that are not in compliance with SEC regulations.New regulations specifically針對crypto industry, such as requirements for exchanges to register with the SEC and for crypto tokens to be registered as securities.A crackdown on initial coin offerings (ICOs) and other crypto fundraising activities that the SEC deems to be unregistered securities offerings.Increased scrutiny of the crypto industry by other US regulators, such as the Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN).The impact of Gensler's tough stance on crypto will depend on a number of factors, including how the courts rule on any legal challenges to SEC regulations, and how other US regulators respond. However, it is clear that Gensler is determined to bring the crypto industry under the SEC's umbrella.It is also worth noting that Gensler's views on crypto are not universally shared within the SEC. Some commissioners have expressed more skepticism about whether the SEC has the authority to regulate crypto, and whether such regulation is necessary or desirable. It is therefore possible that Gensler will face some resistance from within the SEC to his efforts to crack down on the crypto industry.
In this episode, we explore recent SEC actions against NFT projects, highlighting dissent within the SEC itself. We examine two cases involving Impact Theory and Stoner Cats and discuss the application of the Howey Test in determining NFT securities status. Hester Pierce and Mark Uyeda offer rational perspectives, advocating for clear guidelines to support creators while preserving artistic freedom. These statements highlight the complexities of NFTs, crowdfunding, and the SEC's role in regulating this evolving space.SEC Statements:Collecting Enforcement Actions: Statement on Stoner Cats 2, LLC:https://www.sec.gov/news/statement/peirce-uyeda-statement-stonercats-091323NFTs & the SEC: Statement on Impact Theory, LLC:https://www.sec.gov/news/statement/peirce-uyeda-statement-nft-08282312 Eth Essentials: 12 Ethereum Essentials Newsletter: https://NiftyBusinessweek.com/Twitter @TropicVibes: https://twitter.com/TropicVibesEmail: mail[at]niftybusiness.coNFT 101 Episodes:#36 - Web 3.0 Explained #225 - NFTs Explained#30 - 10 Reasons to Buy NFTs#7 - NFT Words & Verbiage#47 - NFT Words & Verbiage Part II#97 - NFT Words & Verbiage Part IIINeed a Ledger Hardware (Cold) Wallet?*Using this referral link supports this show at no extra cost to you:Ledger Affiliate Link Recommended Reading for Web3 Enthusiasts:The Bitcoin Standard: https://amzn.to/3K31jvLThe 10 Best-Ever Anxiety Management Techniques: https://amzn.to/3YphPL2*Amazon affiliate links
Ever wondered how the recent Ripple decision might reshape the landscape of crypto investments? Join me, Joeri Billast, as I chat with the distinguished Mark Fidelman, founder of Smart Blocks Agency. Together, we unravel the implications of the Ripple decision, dissecting its nuances and exploring the pivotal exemptions to the SEC that could streamline the investment journey.Our conversation sheds light on the Howey Test and Ripple's notable violation of the Investment Act. As we sail through the vast ocean of security tokens, we weigh their risks against those of traditional stocks and the unpredictable world of NFTs. This episode is more than just crypto talk; it's about understanding the imperative for robust regulations that safeguard both investors and digital assets.Dive deep with us into the transformative potential of tokenization and its impending revolution in the finance sector. And before we wrap up, Mark extends a special invitation to his W3X Web3 Mastermind and provides details on how you can get in touch with him. Gear up to unlock actionable insights and empower your crypto investment decisions.This episode was recorded through a StreamYard call on July 13, 2023. Read the blog article here: https://webdrie.net/navigating-the-ripple-decision-and-untapped-potential-of-tokenization-a-deep-dive-with-mark-fidelman-founder-of-smartblocks**********************************************************************************************I have access to an exclusive opportunity with a company building virtual worlds for Apple Vision Pro. Interested parties can contact me for more details and a special code.Just send me a DM on LinkedIn, Twitter or Instagram. Ready to upgrade your Web3 marketing strategy? Don't miss Consensus 2024 on May 29-31 in Austin, Texas. It is the largest and longest-running event on crypto, blockchain and Web3. Use code CMOSTORIES to get 15% off your pass at www.consensus2024.coindesk.com
On this day in history, August 25, 1921, the U.S.–German Peace Treaty was signed in Berlin, marking a significant moment in the aftermath of World War I. The treaty was necessitated by the U.S. Senate's refusal to ratify the multilateral peace treaty signed in Versailles, leading to a separate peace agreement with Germany. The U.S. had declared war on Germany on April 6, 1917, and was part of the Allied Powers that defeated the German Empire. The end of the war saw the overthrow of the German monarchy and the establishment of a republic. Spoiler alert for those that haven't read the next chapter in the metaphorical history book yet, that would not go well.The U.S. Senate's objections to the Versailles Treaty were largely due to its provisions regarding the League of Nations. As a result, the U.S. and Germany began negotiations for a bilateral peace treaty, culminating in the signing of the treaty on August 25, 1921. The treaty became effective on November 11, 1921, after ratifications were exchanged in Berlin. It laid the foundations for American-German cooperation outside the strict supervision of the League of Nations, partially assisting the Weimar Republic in easing the burden of war reparations. Diplomatic relations were reestablished, and a supplementary treaty was signed in 1922 to decide the amount of reparations to be paid by Germany to the U.S. The signing of the treaty also led to the retirement of the Morgan silver dollar in favor of the new Peace dollar design, symbolizing a new era of peace and cooperation–in aspirations if not in reality. Treaty between the United States and Germany restoring friendly relations, signed at Berlin August 25, 1921The Biden administration is collaborating with Texas to restore Medicaid coverage to approximately 90,000 individuals who had lost it erroneously, according to senior officials from the Centers for Medicare & Medicaid Services (CMS). The officials are working with the state's Medicaid agency to reinstate coverage back to the date when it was terminated. The restoration is expected to be completed by the end of the month. This move follows a letter from Democratic House members from Texas, urging the CMS to investigate reported problems at the Texas Medicaid agency. A whistleblower letter had alleged system failures leading to incorrect coverage terminations, affecting thousands of pregnant women and seniors. The Texas Democrats accused the state of not complying with federal Medicaid requirements and called for CMS intervention. Nearly 600,000 Texans have already lost Medicaid coverage in recent months, mostly due to procedural reasons. Legislators have warned of further "catastrophic coverage losses" as Texas sends renewal notices to more enrollees. Rep. Lloyd Doggett emphasized the need for swift federal action to prevent interruptions in care for disadvantaged families.HHS Moves to Restore Medicaid Coverage to 90,000 in Texas (1)JPMorgan Chase & Co. has won a federal appeals court ruling that a $1.8 billion leveraged loan was not a security, marking a significant victory for the banking and private equity sectors. The ruling came in a securities fraud lawsuit related to a 2014 syndicated loan deal led by JPMorgan for drug-testing company Millennium Health, which later filed for bankruptcy. Currently, loan notes are not considered securities, so a ruling against JPMorgan could have had broad implications for the regulation of the leveraged loan market. If classified as securities, loans would require additional disclosures, more financial data, and quicker settlement of trades. The decision is seen as favorable for banks and private equity firms, which frequently use leveraged loans in buyout deals. Advocates for reclassifying leveraged loans have argued that it would bring transparency to an opaque part of the financial markets. The appeals court agreed with a lower court's dismissal of the plaintiff's fraud claims, finding that the notes were not securities. The Securities and Exchange Commission declined to offer its opinion on the matter, despite heavy lobbying from the Loan Syndications and Trading Association. The trustee had claimed that JPMorgan and other banks withheld crucial information about Millennium's troubles. The appeals court found that the notes did not meet three of the four factors required to be considered a security under U.S. law.The test to determine whether a financial instrument is considered a security under U.S. law comes from the Supreme Court case of SEC v. W. J. Howey Co., 328 U.S. 293 (1946). This test is commonly referred to as the Howey Test, and it has four factors that must be considered:* Investment of Money: There must be an investment of money or other tangible or definable consideration.* Common Enterprise: The investment must be in a common enterprise, meaning that the fortunes of the investor are interwoven with those of either the promoter or a third party.* Expectation of Profits: There must be an expectation of profits from the investment. This could include capital appreciation resulting from the development of the initial investment or a participation in earnings.* Efforts of Others: The profits must come solely from the efforts of others, typically the promoter or third party, not the investor. This element emphasizes that the investor must be a passive participant in the business.Subsequent cases, such as United Housing Foundation, Inc. v. Forman, 421 U.S. 837 (1975), have further clarified the Howey Test, specifically focusing on the economic realities of the scheme and noting that the form should be disregarded for the substance. Moreover, other cases such as Reves v. Ernst & Young, 494 U.S. 56 (1990), introduced a "family resemblance test" which helps in differentiating notes that are securities from those that are not.The Howey Test remains a fundamental standard in securities law, providing a broad and flexible framework to accommodate the evolving nature of investment schemes.JPMorgan Wins Ruling That Leveraged Loans Are Not Securities (2)Robert F. Kennedy Jr. has lost a bid to force Google and YouTube to restore videos in which he questioned the safety of Covid-19 vaccines. Kennedy, who is seeking to be the Democratic Party's 2024 presidential nominee, alleged that YouTube violated his First Amendment right to political speech when it removed the videos due to its medical and vaccine misinformation policies. The U.S. District Court for the Northern District of California stated that the suit is likely to fail because Google and YouTube are not state actors subject to the free speech clause of the First Amendment. Judge Trina L. Thompson denied Kennedy's motion for a temporary restraining order that would prevent the tech companies from keeping the videos off their platform. The judge ruled that emails between government officials and Google personnel about vaccine misinformation were not enough to show that YouTube's decisions were state decisions or evidence of a conspiracy to censor speech. There was no evidence that government officials demanded that Google adopt a Covid-19 misinformation policy, nor that they communicated with Google regarding Kennedy specifically. The evidence showed that communications between government officials and Google were merely "consultation and information sharing." The case is scheduled for a hearing on November 7 regarding Kennedy's motion for a preliminary injunction and the companies' motion to dismiss.RFK Jr. Loses Bid to Force YouTube to Re-Post Anti-Vax VideosStarbucks Corp. is on the verge of defeating a National Labor Relations Board (NLRB) attempt to obtain a temporary injunction from a New York federal court. US District Judge John Sinatra ruled that the NLRB's move to block the court's discovery order in the case is "repugnant" and necessitates the dismissal of the agency's injunction petition. The NLRB has until September 1 to avoid dismissal by ceasing efforts to obstruct the discovery order. This ruling is a significant victory for Starbucks' aggressive discovery strategy in response to the NLRB's attempts to quickly obtain court orders. The NLRB has authorized its General Counsel, Jennifer Abruzzo, to sue Starbucks 10 separate times for 10(j) injunctions. The NLRB has won two cases and obtained an interim settlement in a third, while Sinatra's decision could mark the second loss for the agency. Three cases are ongoing, and one authorized petition hasn't been filed yet. Abruzzo plans to challenge Sinatra's ruling at the US Court of Appeals for the Second Circuit. Starbucks Workers United criticized the decision, while a Starbucks spokesperson said the ruling made clear that the NLRB "crossed the line." The injunction case has lasted over 400 days, mainly due to discovery disputes, with Sinatra permitting Starbucks to issue nearly 22 subpoenas for various information related to union activities.Starbucks on Verge of Beating NLRB Injunction Bid in N.Y. (1)Former U.S. President Donald Trump was booked at an Atlanta jail on more than a dozen felony charges related to his attempts to overturn his 2020 election defeat in Georgia. Though his mugshot was released, the focus of the case is on the wide-ranging criminal charges he faces. Trump spent only about 20 minutes at the jail before returning to his New Jersey golf club, maintaining that the prosecution is politically motivated. Judge Scott McAfee set a trial date of October 23 for one of Trump's 18 co-defendants, but the schedule does not yet apply to Trump or the other defendants. Trump faces 13 felony counts in the Georgia case, including racketeering, for pressuring state officials to reverse his election loss. Trump's legal team is expected to push for a later trial start date. In total, Trump faces 91 criminal counts across four cases. He has pleaded not guilty in the three other cases and denied wrongdoing. In the Georgia case, arraignments are requested to begin the week of September 5. Trump agreed to post a $200,000 bond and accepted bail conditions that would bar him from threatening witnesses or his co-defendants in the Georgia case. Republicans who control the U.S. House of Representatives announced they would investigate whether the prosecutor improperly coordinated with federal prosecutors.Trump's mug shot released after booking at Georgia jail on election charges | Reuters Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe
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In this episode of Cut to the Chase, host Greg Goldfarb brings back Scott Silver and David Chase to discuss the recent developments in the SEC versus Ripple lawsuit and the landscape for crypto advocates and industry professionals. The guests provide insights into the Ripple lawsuit, including an explanation of the Howey test. They also touch on the SEC's actions against other exchanges and the impact on the crypto community. Tune in to stay updated on the latest legal and regulatory news in the world of crypto. To learn more about mass tort law cases and lawyer best practices, subscribe to the Cut to the Chase: Podcast with Gregg Goldfarb.
Our podcast sponsor, Stream by Alphasense, connected us with Daniel Payne, Senior Fellow at the International Congress of Blockchain Legal Advisors, to discuss the stakes at play in the SEC vs. Coinbase $COIN case. International Congress of Blockchain Legal Advisors Website: https://icbla.legal/ Chapters: [0:00] Introduction + Episode sponsor: Stream by Alphasense [1:08] Daniel Payne quick background [4:23] SEC vs. Coinbase $COIN - high level overview of the case [8:45] What are the stakes the SEC is playing for here? [11:11] $COIN response to the SEC [18:09] $COIN on the regulatory uncertainty [22:57] Ripple decision and how this impacts the $COIN case [29:51] Congress working towards legislation of crypto and how that affects $COIN case [32:57] $COIN's S-1 Defense [36:43] Two allegations the SEC is leveling against $COIN [39:55] Staking program and what the SEC is alleging about this program [47:15] Likelihood of certain tokens becoming securities [49:08] $COIN lingering liabilities from operating a commodities exchange without proper regulation? [50:44] SEC argument on $COIN's internal Howey Test for allowing various tokens to trade on their platform [53:04] SEC vs. $COIN case timing and final thoughts Today's episode is sponsored by: Stream by Alphasense Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you. But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/
Pre-Show Celcius CEO Alex Mashinsky was arrested (https://archive.li/LdCF6) for fraud, finally. News Economics Lyn Alden's latest market update (https://www.lynalden.com/july-2023-newsletter/) builds on her article charting the relationship between interest rates and inflation (https://www.lynalden.com/inflation-vs-interest-rates/). Since conventional central bank focused economics is posited on interest rates influencing inflation, it's a precient topic. Lyn points to the International Monetary Fund's, a multinational financial organization, paper on using inflation and financial repression (https://www.imf.org/en/Publications/WP/Issues/2016/12/31/The-Liquidation-of-Government-Debt-42610) to solve goverment debt crisis Altcoins Ripple has won a victory over the SEC as a US judge rules that selling XRP tokens to VCs is illegal but fine when dumping on retail (https://prestonbyrne.com/2023/07/13/ripple-labs-ruling-throws-u-s-crypto-token-regulation-into-disarray/) The ruling is unlikely to hold (https://nitter.net/BryanJacoutot/status/1679539619312853028#m) and this case might be more about what happens to Etherium The real question is how Bitcoin is interpreted via the Howey Test (https://jacoutotonlaw.com/wp-content/uploads/2023/02/Bitcoin_Crypto-Securities-analysis02.pdf) (PDF WARNING) Proof of Stake on ETH has resulted in increased demand for liquid staking tokens (https://insights.glassnode.com/the-week-onchain-week-27-2023/?utm_campaign=woc_27__2023&utm_medium=woc_newsletter&utm_source=email), centralizing staking and network consensus, also average holdings are ~$100k so this is a big fish game, plebs need not apply Bitcoin Education Bitcoin Optech covers lightning protocol cleanup (https://bitcoinops.org/en/newsletters/2023/07/12/) and more transaction relay discussion Feedback Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started), details here (https://www.jupiterbroadcasting.com/community/matrix/) Boosts Baller Boosts From: @clarkian 58,008 sats Episode 89: Not at all about Bitcoin Great episode, gentlemen. Great discussion on mis/disinformation. Has been my thoughts on the issue for a while. I read this good article on KYC/AML and thought you might want to review. I worked at banks for a while and always had to take yearly training on it. Hate it. https://disruptives-horizons.com/p/kyc-aml-destroying-world Thank you Boosters If you get some value from this show, please consider sending a boost. Hearing from you means a lot to us! Send a Boost via the Podcast Index web page. No Podcast app upgrade required. Install Alby (https://getalby.com/) Find the Bitcoin Dad Pod on the Podcast Index (https://podcastindex.org/podcast/5049889) Boost right from the page! Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com Value for Value Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/) Recomended Podcasting2.0 apps: Fountain (https://www.fountain.fm/) podcast app (Android) Podverse (https://podverse.fm/) (Cross platform and self hostable) + Alby (https://getalby.com/) for boosts Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple) Sponsors and Acknowledgements Music by Lesfm from Pixabay Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
Today in Daily Web 3 News: In the July 13 order by the US District Court, Southern District of New York, several key points were addressed regarding the case. The court stated that XRP sales in which buyers directly purchased from Ripple constituted sales of securities, amounting to $728 million. The court concluded that Ripple's Programmatic Sales of XRP did not constitute the offer and sale of investment contracts. However, the individual defendants, Garlinghouse and Larsen, will proceed to trial. The court considered the economic reality and totality of circumstances to determine whether the Howey Test was satisfied. The order does not address secondary market sales, implying that most XRP tokens already in circulation are not considered securities. The court's reasoning and interpretation of the Howey test have been subject to debate, but overall, the order provides insights into the ongoing legal battle between Ripple and the SEC.#Ripple #SEC #XRP #HoweyTest #Cryptocurrency #LegalBattle_________News Links
Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community. Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC's crypto regime is simply unworkable? The two join the show to debate the specifics – and it certainly gets heated. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: whether it is even possible to compliantly register a crypto exchange in the U.S. following SEC Chair Gary Gensler's recent public statements which tokens Prometheum can list, if any why Rodrigo and Aaron disagree over what constitutes a security whether the Howey Test applies in secondary market transactions for tokens sold pursuant to a SAFT why Aaron says that Paradigm should reassess its entire thesis and that the status quo benefits venture capital firms like Paradigm why Rodrigo says Prometheum has a license, but not a business who would be responsible for providing required disclosures for a decentralized network like Ethereum how many tokens Aaron expects to list on the Prometheum platform whether Aaron and Prometheum had specific discussions with the SEC about what tokens are securities Aaron's response to allegations that the Chinese Communist Party is infiltrating the U.S. financial system through Prometheum whether Aaron had previewed the questions he was asked by representatives in his Congressional hearing what they believe should be included in disclosures about tokens if federal securities laws didn't exist and guidelines for disclosures were written from scratch what Aaron has to say about the Blockchain Association's recent FOIA request whether Prometheum is open to being acquired by other entity Thank you to our sponsors! Crypto.com TOKEN2049 OKX Guest: Aaron Kaplan, co-CEO and co-founder of Prometheum. Previous appearance on Unchained: These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler Aaron's written testimony Rodrigo Seira, special counsel at Paradigm. Rodrigo's thread on Prometheum Links Unchained: Crypto Community Unearths Questionable History of SEC-Aligned Prometheum Former SEC Cyber Chief Calls the Agency's Way of Labeling Tokens Securities ‘Not Fair' Investopedia: Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers CoinDesk: Gary Gensler's Catch-22 Vision of ‘Regulated' Crypto Brokers Key Takeaways From House Hearing on Future of Digital Assets The Crypto Basic: Prometheum Founder Says SEC Will Win Ripple Lawsuit, XRP Community Reacts Digital Asset Investor's video on SEC setting up a Chinese back door into crypto Thread from Blockchain Association's Marisa Coppel Adam Cochran points out a slew of details that call Prometheum into question. Matt Walsh questions how Kaplan can be called a securities expert since the law school he earned his degree from is now unaccredited by the American Bar Association. A clip from Aaron's exchange with U.S. Rep Mike Flood Learn more about your ad choices. Visit megaphone.fm/adchoices
Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community. Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC's crypto regime is simply unworkable? The two join the show to debate the specifics – and it certainly gets heated. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: whether it is even possible to compliantly register a crypto exchange in the U.S. following SEC Chair Gary Gensler's recent public statements which tokens Prometheum can list, if any why Rodrigo and Aaron disagree over what constitutes a security whether the Howey Test applies in secondary market transactions for tokens sold pursuant to a SAFT why Aaron says that Paradigm should reassess its entire thesis and that the status quo benefits venture capital firms like Paradigm why Rodrigo says Prometheum has a license, but not a business who would be responsible for providing required disclosures for a decentralized network like Ethereum how many tokens Aaron expects to list on the Prometheum platform whether Aaron and Prometheum had specific discussions with the SEC about what tokens are securities Aaron's response to allegations that the Chinese Communist Party is infiltrating the U.S. financial system through Prometheum whether Aaron had previewed the questions he was asked by representatives in his Congressional hearing what they believe should be included in disclosures about tokens if federal securities laws didn't exist and guidelines for disclosures were written from scratch what Aaron has to say about the Blockchain Association's recent FOIA request whether Prometheum is open to being acquired by other entity Thank you to our sponsors! Crypto.com TOKEN2049 OKX Guest: Aaron Kaplan, co-CEO and co-founder of Prometheum. Previous appearance on Unchained: These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler Aaron's written testimony Rodrigo Seira, special counsel at Paradigm. Rodrigo's thread on Prometheum Links Unchained: Crypto Community Unearths Questionable History of SEC-Aligned Prometheum Former SEC Cyber Chief Calls the Agency's Way of Labeling Tokens Securities ‘Not Fair' Investopedia: Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers CoinDesk: Gary Gensler's Catch-22 Vision of ‘Regulated' Crypto Brokers Key Takeaways From House Hearing on Future of Digital Assets The Crypto Basic: Prometheum Founder Says SEC Will Win Ripple Lawsuit, XRP Community Reacts Digital Asset Investor's video on SEC setting up a Chinese back door into crypto Thread from Blockchain Association's Marisa Coppel Adam Cochran points out a slew of details that call Prometheum into question. Matt Walsh questions how Kaplan can be called a securities expert since the law school he earned his degree from is now unaccredited by the American Bar Association. A clip from Aaron's exchange with U.S. Rep Mike Flood Learn more about your ad choices. Visit megaphone.fm/adchoices
Professor J.W. Verret teaches corporate and securities law and financial accounting at George Mason Law School. From May 2018 to March 2022, Professor Verret served as an Advisory Committee Member to the U.S. Securities and Exchange Commission where he represented the interests of investors in making recommendations to SEC Chair Gensler and other Commissioners. In part one of this two part interview, Verret explains how a principle of administrative law in the United States known as the 'major questions doctrine' could challenge the SEC's use of the Howey Test to determine if an asset is a security under federal law. According to Verret, the major questions doctrine is a way for the court to check the power of independent agencies: "If Congress has not given you specific authority to regulate a thing as an agency and you're seeking to regulate it, if it involves a major question of national, economic or political importance, then you need to get authorization from Congress before you do anything." The major questions doctrine will likely not be discussed until the SEC's lawsuits against Coinbase and Binance.US reach the appellate courts, says Verret, "but it's one of the things that looms over these cases, without a doubt." This episode is brought to you by our sponsors PayPal and CleanSpark. About PayPal Make your crypto move with PayPal. Get started today at PayPal.com/crypto About CleanSpark CleanSpark (NASDAQ: CLSK) is America's Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.
Hailey Lennon is a partner in the digital commerce group at Brown Rudnick, which handles high-stakes litigation and business transactions. -- In this episode we discuss: - Lawsuits against Binance and Coinbase - What is a security? What is the Howey Test? - Is Bitcoin threatened by crypto regulation? - Are politics involved in SEC lawsuits? - What will crypto look like in 5-10 years? -- Hailey is also the founder and president of Crypto Connect, a nonprofit, decentralized organization dedicated to sponsoring educational and networking opportunities for the cryptocurrency industry. She previously was regulatory counsel at cryptocurrency platforms Coinbase and bitFlyer, served as board secretary for the Virtual Commodity Association, and was AVP of regulatory compliance at Silvergate Bank. Hailey earned her Juris Doctor from the University of San Diego School of Law, and her undergraduate degree in Business Administration and Business Law from Loyola Marymount University. -- Follow Hailey on Twitter https://twitter.com/HaileyLennonBTC -- Partners: Coin Stories is powered by Swan Bitcoin the best way to build your Bitcoin stack with automated Bitcoin savings plans and instant purchases. Swan serves clients of any size, from $10 to $10M+. Visit https://www.swanbitcoin.com/nataliebrunell for $10 in Bitcoin when you sign up. If you are planning to buy more than $100,000 of Bitcoin over the next year, the Swan Private team can help. -- BITCOIN 2024 by Bitcoin Magazine is July 25-27 in Nashville! Check out the highlights from Bitcoin 2023 in Miami Beach, and get your 2024 early bird pass at a steep discount at https://b.tc/conference. Use code HODL for 10% off. -- Fold is the best Bitcoin rewards debit card and shopping app in the world. Earn Bitcoin on everything you purchase with Fold's Bitcoin cash back debit card, and spin the Daily Wheel to earn free Bitcoin. Head to https://www.foldapp.com/natalie and for a limited time you can get 100,000 satoshis when you sign up for Fold and Fold+ and spend $20 on the card. June only. -- I'm proud to partner with Coinkite, your go-to tech company for top-notch Bitcoin custody solutions. The ColdCard wallet offers a safe haven for your Bitcoin, securely storing your digital assets offline. Coinkite recently introduced Tapsigner, an NFC wallet key ideal for easily setting up multisig wallets or Satscard, the best gift you can give to someone brand new to Bitcoin. And keep an eye on the Bitcoin sphere with the BlockClock, a custom desk clock displaying real-time Bitcoin blockchain stats. Coinkite's mission? Making Bitcoin user-friendly while championing decentralization. Remember, your financial control matters. Check out Coinkite's offerings, and take the step towards accessible Bitcoin management. Get 5% off using my link https://store.coinkite.com/promo/COINSTORIES -- CrowdHealth offers the Bitcoin alternative to health insurance. Why? The government and insurance companies have jacked the price and increased complexity and stress. You send your money to the health insurance black hole and never see it again. Then, when you get hurt you have to send them more money. The great news is now you have an alternative: CrowdHealth. Instead of sending your hard earned money to an insurance company, you hold your money in an account CrowdHealth helps you set up when you join. You can even convert dollars in that account into Bitcoin. When someone in the community has a health need, you help them out directly and if there is Bitcoin or $ left over in your account when you leave, you take it with you. https://www.joincrowdhealth.com/natalie to sign up. -- The Orange Pill App is building the social layer for Bitcoin and creating opportunities for in-person connections and building community. Connect with HODLers and Bitcoin events based on your location. Download The Orange Pill App and get more information at https://www.TheOrangePillApp.com. -- OTHER RESOURCES Natalie's website https://talkingbitcoin.com/ Crypto Connect https://cryptoconnect.org/ -- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories BTC wallet bc1ql8dqjp46s4eq9k3lxt0lxzh6f2wcu35cl6944d -- FOLLOW NATALIE ON SOCIAL MEDIA Twitter https://twitter.com/natbrunell Instagram https://www.instagram.com/nataliebrunell Linkedin https://www.linkedin.com/in/nataliebrunell -- Producer: Aron Bender https://www.linkedin.com/in/aron-bender/ -- DISCLAIMER This show is for entertainment purposes only and does not give financial advice. Before making any decisions consult a professional. #bitcoin #cryptocurrency #money
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SEC vs Binance on Monday. SEC vs Coinbase on Tuesday. What a week! The gloves are officially off, and the SEC is coming hard after the crypto titans. What does it all mean? You've come to the right place.Key Points From This Episode:Similarities (unregistered offerings galore!) and differences (fraud!) between the Binance and Coinbase allegations.Why the allegations against Coinbase seem particularly disingenuous.Why if you try hard enough, everything fails the Howey Test.A glass-half-full conclusion (I am an eternal optimist after all).Disclaimer:This show is for informational purposes only. Nothing presented here constitutes legal advice. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/Links Mentioned in Today's Episode:Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Cole-Frieman & Mallon LLP - https://colefrieman.com/SEC vs Binance Complaint - https://www.sec.gov/files/litigation/complaints/2023/comp-pr2023-101.pdfSEC vs Coinbase Complaint - https://www.sec.gov/litigation/complaints/2023/comp-pr2023-102.pdfParadigm Articles - https://policy.paradigm.xyz/writing/secs-path-to-registration-part-iMusic by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Crypto This Week! Fantom's Very Bad Ungood Week. The Multichain bridge team arrest brought a lot of concerns to the network this week. Ripple's SEC Case for $XRP is starting to see some clarity. Hinman emails to be released and we are seeing evidence that the SEC declared it an unregistered security regardless of the Howey Test procedure. Wizard Hats vs. Lazer Eyes. Michael Saylor steps in and says any development on the Bitcoin chain is up to the market. Discord: https://discord.gg/blockbytes Timestamps: 00:00 Across The Chains! Every Friday! 20:00 Ripple vs SEC | Looking Good for Ripple / XRP 28:50 Bitcoin Community Clash: Wizard Hats VS Lazer Eyes 46:40 FTX To Relaunch! Good Idea? 53:30 US Gov Crackdown on Crypto 1:00:00 Thanks For Tuning In! Like the Video! ------ Nothing you read/see on Blockbytes YouTube or blockbytes.com should be considered financial advice. Please use all of the information available to you and do your own research. There are many risks inherent with Crypto currency investing which includes up to complete loss of funds. So please never invest with money you cannot afford to lose. All of blockbytes content is for entertainment purposes only and the opinions of the presenters and guests do not necessarily reflect the views of Blockbytes LLC. Nothing you see in any of the blockbytes content should be considered a solicitation to buy or sell any assets. Any links of which Blockbytes receives a commission will be clearly marked as such. If you like the content that we produce and can use the products then please consider using our referral links above.
In a less-than-stellar fundraising environment, many aspiring fund managers want to dip their toe into the fund waters, without incurring the expense of a full fund offering. This is where an incubator fund might make sense, and that's the topic of today's episode. An incubator fund allows an aspiring manager to test an investment strategy and develop a track record that can eventually be marketed to outside investors.Key Points From This Episode:My definition of an incubator fund, and how it differs from another common definition.Flashback to the Legislative Triangle from Episode 1 and the four prongs of the Howey Test from Episode 2.Why a true incubator fund cuts corners off the Legislative Triangle.Limitations of an incubator fund (no outside investors, no compensation).Disclaimer:This show is for informational purposes only. Nothing presented here constitutes legal advice. Tokens of Wisdom is produced by Dave Rothschild, partner at Cole-Frieman & Mallon LLP headquartered in San Francisco, California. For more information, visit https://colefrieman.com/Links Mentioned in Today's Episode:Dave Rothschild - https://www.linkedin.com/in/davidcrothschild/Cole-Frieman & Mallon LLP - https://colefrieman.com/Music by Joe Ginsberg - https://www.instagram.com/thejoeginsbergFor any questions or comments, email: tow@colefrieman.com
Join me today for Episode 702 of Bitcoin And . . . is LIVE! Topics for today: - The #grownostr Initiative - Open Letter to Texas Senator about SB-1751 - CleanSpark to double mining capacity - Bitmain in tax trouble with China - Microstrategy is in the Gree - More attorneys for the SEC - FTX lawyers are the only ones who benefit from the bankruptcy - The Howey Test #Bitcoin #BitcoinAnd #BTC Articles: https://www.thesurvivalpodcast.com/lets-grow-nostr https://bitcoinmagazine.com/business/open-letter-to-texas-sen-lois-kolkhorst https://cointelegraph.com/news/ftx-s-bankruptcy-lawyers-and-advisors-pocket-32-5m-in-february https://bitcoinmagazine.com/business/cleanspark-to-nearly-double-bitcoin-mining-capacity https://cointelegraph.com/news/bitcoin-mining-firm-bitmain-reportedly-fined-for-tax-violations https://bitcoinmagazine.com/business/pocket-bitcoin-acquires-bitcoin-wallet-app-bitkipi - https://www.cnbc.com/futures-and-commodities/ - https://bitinfocharts.com/ - https://bitcoin.clarkmoody.com/dashboard/ - https://mempool.space/ https://cointelegraph.com/news/microstrategy-bitcoin-bet-turns-green-as-btc-price-climbs-to-10-month-high https://www.coindesk.com/policy/2023/04/11/us-sec-adding-attorneys-to-crypto-enforcement-unit-signals-continued-crackdown/ https://decrypt.co/125761/crypto-projects-must-reckon-with-sec-howey-test-for-securities https://cointelegraph.com/news/new-r-d-tax-rules-could-bankrupt-your-blockchain-startup https://www.coindesk.com/markets/2023/04/11/bitcoin-shorts-take-on-87-of-futures-liquidations-as-btc-crosses-30k/ https://decrypt.co/125904/robert-f-kennedy-jr-ron-desantis-cbdcs Find me on nostr npub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub) 6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex) StackerNews: stacker.news/NunyaBidness Podcasting 2.0: fountain.fm/show/eK5XaSb3UaLRavU3lYrI Apple Podcasts: tinyurl.com/unm35bjh Instagram: instagram.com/bitcoin_and Mastodon: noagendasocial.com/@NunyaBidness Support Bitcoin And . . . on Patreon: patreon.com/BitcoinAndPodcast Find Lightning Network Channel partners here: https://t.me/+bj-7w_ePsANlOGEx (Nodestrich) https://t.me/plebnet (Plebnet) Music by: Flutey Funk Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License creativecommons.org/licenses/by/3.0/
Heya Cryptozens, Episode 456: Coinbase CEO vs SEC Howey Test vs Staking Tokens Kraken vs SEC Trickbot Sanctioned Mississippi's Digital Asset Mining Act (2/9/2023)-Welcome back to the Crypto Overnighter. My name is Nikodemus, I'll be your host as we take a nightly look at the crypto, NFT and metaverse space and the industry that surrounds it. And keep in mind, nothing in this show should ever be considered financial advice. Email: nick@cryptoovernighter.com Salem Friends of Felines: https://sfof.org/ Twitter: https://twitter.com/CryptoCorvus1 Patreon: https://www.patreon.com/user?u=67416221
Lewis Cohen joins Jai Massari to discuss a new reading of the Howey Test designed to clear up regulatory uncertainty. Learn more about your ad choices. Visit megaphone.fm/adchoices
Lewis Cohen joins Jai Massari to discuss a new reading of the Howey Test designed to clear up regulatory uncertainty. Learn more about your ad choices. Visit megaphone.fm/adchoices
On this week's episode of The Encrypted Economy, our guests are Lewis Cohen, Greg Strong, Freeman Lewin, and Sarah Chen of DLx Law. We continue our conversation on the classification of digital assets and delve deeper into the characteristics of judicially recognized security instruments. Be sure to subscribe to The Encrypted Economy for more insights on the latest developments in digital asset regulation. Topics Covered:· 3:05 Intent of The Howey Test· 9:42 Assessing the Application of Howey to the Secondary Market· 13:14 Assessing the Approach to Contract Analysis· 15:00 Overview and Implications of the LBRY Decision · 38:00 The Flaws of the Hinman Test· 44:50 Discussing Informational Asymmetry Resource List:· Lewis Cohen's LinkedIn· Lewis Cohen's Twitter· The Ineluctable Modalities of Securities Law, why Fungible Crypto Assets Are NotSecurities?· SEC case against LBRY of New Ham pshire· Howey Test· Reeves Test· Token Safe Harbor Proposal 2.0· Hinman Test· Lummis-Gillibrand Responsible Financial Innovation Act Follow The Encrypted Economy on your favorite platforms!TwitterLinkedInInstagramFacebook
We get this question a LOT. What is the difference between a syndication and a joint venture? It's an important question, because the answer could help save your deal, your investors, and yourself! When structuring a deal, the best way to tell if a syndication or if a joint venture will work is to use the Howey Test. This can help determine whether a deal should be classified as a joint venture or a syndication. But you have to be careful, because there are potential consequences of not following these rules. We cannot emphasize enough the importance of being aware of the legal requirements in order to protect oneself and one's investors in the event of any issues or disputes.So, what is the difference between a syndication and a joint venture?Find out on this week's episode of Multifamily Investing Made Simple, In Under 10 Minutes. Happy New Year! We hope everyone has a good holiday. Tune in next week to hear Dan and Anthony's best plan to get started in real estate investing in 2023.Tweetable Quotes:"As soon as the investment starts to falter, you don't make the money that you thought you would... An investor can get upset and then they go to get litigious. Then you're really in some hot water."– Anthony Vicino"When people are brand new, they're usually doing deals that are a little bit on the smaller side. And what you'll notice is there's a pretty big difference in the cost for legal for a syndication versus just an operating agreement." – Dan KruegerLEAVE A REVIEW if you liked this episode!!Keep up with the podcast! Follow us on Apple, Stitcher, Google, and other podcast streaming platforms.To learn more, visit us at https://invictusmultifamily.com/**Want to learn more about investing with us?**We'd love to learn more about you and your investment goals. Please fill out this form and let's schedule a call: https://invictusmultifamily.com/contact/**Let's Connect On Social Media!**LinkedIn: https://www.linkedin.com/company/11681388/admin/Facebook: https://www.facebook.com/invictuscapitalventures/YouTube: https://bit.ly/2Lc0ctX
SEC Commissioner Hester Peirce has been an outspoken advocate for crypto and a candid critic of her own agency's approach to regulating crypto markets. In an extensive chat with Dan Roberts and Stacy Elliott she discussed FTX, Gary Gensler, DeFi, and the problems with the Howey Test. Don't miss this conversation for the inside take on the SEC's thinking on crypto—straight from the source. Hosted on Acast. See acast.com/privacy for more information.
SEC Commissioner Hester Peirce has been an outspoken advocate for crypto and a candid critic of her own agency's approach to regulating crypto markets. In an extensive chat with Dan Roberts and Stacy Elliott she discussed FTX, Gary Gensler, DeFi, and the problems with the Howey Test. Don't miss this conversation for the inside take on the SEC's thinking on crypto—straight from the source. Hosted on Acast. See acast.com/privacy for more information.
Professor John Orcutt discusses the ruling in SEC v. LBRY, the impact of “the Howey Test," and the complex situation of blockchain and securities. Produced and Hosted by A J. Kierstead Get an email when the latest episode releases and never miss our weekly episodes by subscribing on Apple Podcast, Google Play, Stitcher, and Spotify! UNH Franklin Pierce School of Law is now accepting applications for JD and Graduate Programs at https://law.unh.edu Legal topics include cryptocurrency, blockchain, securities, SEC
This is Eric Golden and my guest today is Jai Ramaswamy. Jai is the Chief Legal Officer at Andreessen Horowitz and we recorded this interview at the Money20/20 conference in Las Vegas. In our discussion, we cover the regulatory agencies involved in crypto, the balance between privacy and compliance, and how a16z thinks about responsible regulation. Please enjoy this conversation with Jai Ramaswamy. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. ----- This episode is brought to you by OKX. You may have seen OKX on McLaren's Formula 1 race car or Manchester City's football kit. But what is OKX? OKX has over 730 spot trading pairs, 280 derivatives markets, and 1000 options markets. It processes 400,000 requests per second with 99.95% uptime. That's why over 20 million traders and institutions choose OKX when they want to trade. Visit okx.com to learn more. ----- Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag Show Notes [00:01:52] - [First question] - How he went from a traditional finance lawyer to a crypto one [00:08:05] - A framework for how to think of the regulatory bodies that intersect with crypto [00:12:46] - Who's responsible when you receive an OFAC sanction and what it was like seeing a protocol receive one [00:20:32] - Whether or not OFAC is an organization that tries to send a message to participants through their actions [00:23:15] - Thoughts about the line regulators are walking between being thorough and protecting transaction privacy [00:29:32] - Money laundering in traditional finance versus crypto [00:34:37] - How law enforcement could enforce or stop a truly decentralized smart contract [00:38:44] - The nature of disclosure and what the Howey Test is [00:47:34] - Commissioner Hester Peirce; Smart Regulation and how guidance and enforcement can help legitimize an asset class [00:51:25] - His take on the recent FTX piece that came out [00:54:43] - Thoughts on stablecoins, their uses, and a possible means of destabilization [01:00:32] - The tension between innovation and compliance and the implications of the balance between them [01:06:40] - What he's doing about policy in light of everything that was discussed today
Gaby Goldberg, an investor from TCG Crypto, joins Deana and Natasha to talk about storytelling using blockchain data. They go into the many opportunities in contextualizing on chain data, and somehow manage to bring the conversation around to Taylor Swift and true crime podcasts. Then, Natasha and Deana talk about ‘The Innovators Dilemma' live from Bogotá, and chat about the Howey Test and Bechdel Test to close out the ep. Sign up to the weekly newsletter. Thank you to our sponsors MoonPay! Interview: 4:02 What's happening in the DAO: 28:16 Feelings Check-In: 40:30 Draft Tweets: 47:54 Show notes: Gaby's Mirror Kim for President
Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center's lawsuit against the US Treasury over the sanctions on Tornado Cash. Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center's lawsuit against the US Treasury over the sanctions on Tornado Cash. Show highlights: whether there's an over-reliance on the Howey Test and how a token being non-fungible doesn't mean it's not a security what constitutes an investment contract and how it works in the Metaverse the consequences for NFT holders and issuers if the NFTs are considered securities why Coin Center is suing the US Treasury over the Tornado Cash sanctions Who the plaintiffs are whether this lawsuit differs from the one Coinbase is supporting how to solve the issue of bad actors like North Korea using tools such as Tornado Cash to launder money the remedy Coin Center is looking for in the lawsuit against the Treasury how long the lawsuit could take to be resolved Thank you to our sponsors! Crypto.com Peter Twitter SEC probe into Yuga Labs Unchained article CrypTones thread on land sales Coin Center lawsuit over Tornado Cash sanctions Coin Center lawsuit and statement Unchained article Coinbase Backs Tornado Cash Lawsuit Against U.S. Treasury North Korean hacks Treasury Press release on the sanctions Previous coverage of the Tornado Cash sanctions on Unchained: Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury
Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center's lawsuit against the US Treasury over the sanctions on Tornado Cash. Show highlights: whether there's an over-reliance on the Howey Test and how a token being non-fungible doesn't mean it's not a security what constitutes an investment contract and how it works in the Metaverse the consequences for NFT holders and issuers if the NFTs are considered securities why Coin Center is suing the US Treasury over the Tornado Cash sanctions Who the plaintiffs are whether this lawsuit differs from the one Coinbase is supporting how to solve the issue of bad actors like North Korea using tools such as Tornado Cash to launder money the remedy Coin Center is looking for in the lawsuit against the Treasury how long the lawsuit could take to be resolved Thank you to our sponsors! Crypto.com Peter Twitter SEC probe into Yuga Labs Unchained article CrypTones thread on land sales Coin Center lawsuit over Tornado Cash sanctions Coin Center lawsuit and statement Unchained article Coinbase Backs Tornado Cash Lawsuit Against U.S. Treasury North Korean hacks Treasury Press release on the sanctions Previous coverage of the Tornado Cash sanctions on Unchained: Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury
Welcome to the Alfalfa podcast
Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center's lawsuit against the US Treasury over the sanctions on Tornado Cash. Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center's lawsuit against the US Treasury over the sanctions on Tornado Cash. Show highlights: whether there's an over-reliance on the Howey Test and how a token being non-fungible doesn't mean it's not a security what constitutes an investment contract and how it works in the Metaverse the consequences for NFT holders and issuers if the NFTs are considered securities why Coin Center is suing the US Treasury over the Tornado Cash sanctions Who the plaintiffs are whether this lawsuit differs from the one Coinbase is supporting how to solve the issue of bad actors like North Korea using tools such as Tornado Cash to launder money the remedy Coin Center is looking for in the lawsuit against the Treasury how long the lawsuit could take to be resolved Thank you to our sponsors! Crypto.com Peter Twitter SEC probe into Yuga Labs Unchained article CrypTones thread on land sales Coin Center lawsuit over Tornado Cash sanctions Coin Center lawsuit and statement Unchained article Coinbase Backs Tornado Cash Lawsuit Against U.S. Treasury North Korean hacks Treasury Press release on the sanctions Previous coverage of the Tornado Cash sanctions on Unchained: Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury Learn more about your ad choices. Visit megaphone.fm/adchoices
Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center's lawsuit against the US Treasury over the sanctions on Tornado Cash. Show highlights: whether there's an over-reliance on the Howey Test and how a token being non-fungible doesn't mean it's not a security what constitutes an investment contract and how it works in the Metaverse the consequences for NFT holders and issuers if the NFTs are considered securities why Coin Center is suing the US Treasury over the Tornado Cash sanctions Who the plaintiffs are whether this lawsuit differs from the one Coinbase is supporting how to solve the issue of bad actors like North Korea using tools such as Tornado Cash to launder money the remedy Coin Center is looking for in the lawsuit against the Treasury how long the lawsuit could take to be resolved Thank you to our sponsors! Crypto.com Peter Twitter SEC probe into Yuga Labs Unchained article CrypTones thread on land sales Coin Center lawsuit over Tornado Cash sanctions Coin Center lawsuit and statement Unchained article Coinbase Backs Tornado Cash Lawsuit Against U.S. Treasury North Korean hacks Treasury Press release on the sanctions Previous coverage of the Tornado Cash sanctions on Unchained: Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury
Attorney Steve® Crypto Lawyer - SEC vs. Ripple On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) filed a motion for summary judgment against Ripple Labs Inc. and two of its executives, alleging that they had raised over $1.3 billion through an unregistered securities offering. The SEC's complaint alleges that Ripple's sales of digital tokens, known as XRP, constituted an "investment contract" under U.S. securities laws, and that Ripple violated these laws by failing to register the offering with the SEC. In its motion for summary judgment, the SEC argues that there is no genuine dispute of fact that Ripple's XRP tokens are securities, and that Ripple is therefore liable for violating the securities laws. A hearing on the motion is scheduled for December, 2022.
Marc Boiron (@boironattorney) is the Chief Legal Officer of the Polygon companies and a strategic advisor at Variant Fund, an early-stage fund investing in web3. He's also a board member of the DeFi Education Fund. Marc recently published an excellent article, titled “Sufficient Decentralization: A playbook for Web3 builders and lawyers.” In this episode, we dive deep into Marc's article to highlight how builders and lawyers should think about sufficient decentralization. We also touch on Marc's journey and his thoughts on the current state of crypto regulation. Show highlights: [2:03] Marc's introduction to Bitcoin [9:27] Why decentralization is important [17:08] Best practices in decentralization [24:00] The critical point in Marc's paper [37:40] Airdrops & the Howey Test [42:00] Mutation doctrine [53:00] Tools for DAO communities & much more. Resources: Sufficient Decentralization: A Playbook for web3 Builders and Lawyers Thanks for listening! If you enjoyed this episode, please consider leaving a review. You can subscribe to the newsletter to stay updated on the latest episodes. 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 my third interview with SEC Commissioner Hester Peirce we discuss the SEC and crypto regulations, updating the Howey Test, non-approval of a Bitcoin Spot ETF, BlackRock's Bitcoin spot trust, potential conflicts with Ethereum and more.
What is the Howey Test? Welcome to the cryptohunt jam where we spend one minute a day explaining crypto. In plain English. You've probably just listened to yesterday's episode on Uniswap, the decentralized crypto exchange that is looking into paying the holders of their UNI token a portion of their earnings. Enter the "Howey test"! Named after the defendant in a United States Supreme Court case from 1946, it is a set of questions that determines if a transaction is an "investment contract". And that is a very important classification. One of the governments' jobs is to keep its citizens safe, and that includes safety from investment scams. They do this by forcing those offering investments to disclose a lot of information and register their business with the authorities. As you know, we are a huge fan of learning and doing your own research, and that's exactly what these rules help with, making it harder for people to hide important information. It also forces them to comply with the law. The technical term is "security". Once such an investment has been classified as a security by applying the Howie test, there is a lot that has to be done and provided by the issuer. And that's exactly at stake here with Uniswap. As soon as they hand out money to token holders, the US government is almost certainly going to classify the UNI token as a security and enforce all the requirements that come with that. For Uniswap, that may be impossible, or just not worth doing and for that reason alone they might decide to cancel this proposal, at the risk of angering their token holders. And now that you understand the background, keep an eye on the story in the coming days! It'll get interesting! Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice. --- Send in a voice message: https://anchor.fm/cryptohunt/message
Host Gary J. Ross talks with Zachary Fallon, partner at Ketsal PLLC and a former attorney at the SEC, about the current state of cryptocurrency regulation in the U.S., including the Lummis-Gillibrand Bill, the enduring Howey Test and the listing of tokens on onshore exchanges.
Juan has been teaching his family about Ethereum and I've been changing the way I look at the difference between Bitcoin and everything else.In Episode #313 of 'Meanderings' Juan and I discuss: how a Piccolo latte should be made, how The Coffee Club screwed over Juan (again lol), reading Saifedean Ammous's book on BTC and how it is the only real cryptocurrency, why I'm a slight nuisance at almost all times and why for all the crypto talk not everything needs to be decentralised.As always, we hope you enjoy. Mere Mortals out!Timeline:(0:00) - Angry Juan intro(0:27) - DBZ coffee calamity(2:08) - Screw you Coffee Club(5:14) - Onboarding loved ones into Web 3(11:05) - The Bitcoin Standard(12:56) - Latino crypto meetup(16:41) - NFT scams/safety/security(19:24) - Only one cryptocurrency (BTC) and the Howey Test(24:15) - What does world class mean?(29:39) - Duolingo Plus or Super(32:41) - NFT art with Alexander(34:12) - Kyrin the mildly annoying mosquito(41:09) - Getting what you want(42:34) - ShapeShift DAO(45:04) - Not everything needs to be decentralised(50:05) - We wouldn't mind a crypto asset or twoConnect with Mere Mortals:Website: https://www.meremortalspodcast.com/Discord: https://discord.gg/jjfq9eGReUInstagram: https://www.instagram.com/meremortalspodcast/
This is Eric Golden and my guest today is SEC Commissioner Hester Peirce. Commissioner Peirce was sworn into the SEC in 2018. During her tenure, she has been a vocal advocate of free markets and a supporter of the crypto industry, to the point where she is often referred to as “Crypto Mom”. Regulation is a huge issue for our industry and I hope you'll walk away from this discussion with a better appreciation for the nuance around protecting investors while letting innovation flourish. Please enjoy my conversation with Commissioner Hester Peirce. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. ----- This episode is brought to you by Coinbase Prime. Coinbase Prime combines advanced trading, battle-tested custody, financing, and prime services in a single solution. Clients have used our comprehensive investing platform to execute some of the largest trades in the industry because they are the only publicly-traded company with experience trading and custodying crypto assets at scale. Get started with Coinbase Prime today at coinbase.com/prime. ----- Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag Show Notes[00:02:15] - [First question] - The role of a regulator and the relationship between a regulator and the sector or product they oversee [00:04:29] - Her thoughts on how regulators are more like lifeguards than parents [00:05:36] - Striking a balance that allows innovation to thrive instead of suppressing it [00:07:17] - Overview of the 3 pronged approach of the SEC's crypto mission [00:08:41] - The tension of new capital formation and retail investor exposure [00:10:15] - Being painted as an entirely fraudulent industry full of bad actors [00:11:18] - What it's like working inside of the seeming blackbox that is the SEC [00:13:33] - How many of the 4,500 employees are dedicated to crypto and finances [00:14:19] - Internal debates and public meetings amongst the commissioners [00:16:18] - Ways the commissioners learn about crypto being unable to participate in it [00:17:36] - Whether or not there are restrictions on crypto ownership for the rest of the SEC [00:20:38] - Managing the entrepreneurial spirit as we navigate the legalities of crypto [00:23:16] - How revolutionary it would be if TradFi transactions were on a public blockchain [00:24:40] - The Safe Harbor proposal and how Safe Harbors work in the SEC [00:26:29] - Risky corporate assets and how blockchains could have averted the 2008 crisis [00:28:47] - Difficulties of being a regulator and respecting the responsibility [00:29:56] - Self-reporting and the crypto community reporting suspicious activity [00:32:12] - A skin-in-the-game investment that promotes self-education [00:34:24] - Where the Safe Harbor stands and what it'll take for it to move forward [00:35:37] - The Howey Test and realizing we need new securities laws [00:37:59] - Going from a security to a non-security and instruments that allow a transition [00:39:25] - Leading a commission and if there's a risk of losing a case [00:43:18] - Alternative Trading Systems and Communications Protocol Systems [00:45:03] - When the market could expect a spot Bitcoin ETF [00:46:18] - Whether or not one can challenge a decision made by the SEC [00:46:50] - NFT financialization and how they might need to be regulated [00:48:12] - Her thoughts on DAOs and they're rapid evolution [00:50:29] - The underbanked using crypto and whether or not it impacts the SEC's agenda [00:51:54] - Emergence of stablecoins and her thoughts on their development [00:53:37] - What role if any might self-regulating organizations play in the future [00:56:35] - What she's excited to see achieved over the rest of her term and what are some exciting dates or events she's watching in the crypto space
Drum roll please... we finally found a crypto lawyer!This week, we sat down with Cryptones, a Twitter friend and securities lawyer – or so we hope. (Slight disclaimer, we have no way to verify that he's actually a lawyer because, in true crypto bro fashion, he's anon.) Regardless, we had a long and fascinating convo about our burning securities questions, the Howey Test, and whether NFTs in their current form will even be legal five years from now. Be sure to follow him on Twitter, @cryptonesy. Also in this episode: A brief explainer on what happened with UST/Terra/Luna (aka, headlines you may have seen related to the crypto market crash). We will have more in-depth conversations on this to come in the following weeks, so stay tuned. Some helpful links on topics we mentioned:CoinDesk TV - The HashAzuki Creator in Hot Water Amidst Rug Pull Allegations: Here Are the FactsStablecoins Terra and Tether depegged from the dollar, leaving analysts wondering if this marks a ‘Lehman' moment for cryptoThe Ripple-SEC legal brawl could be a game-changer for cryptoVocab words: UST/Terra/Luna, Azuki, Fidenza, Art Blocks
In this conversation, we chat with Gene Hoffman, Chief Operations Officer and President at Chia Network. Formerly CEO & co-founder Vindicia, eMusic, PGP, PrivNet. Recognized by the San Francisco Business Times with the “40 under 40 Emerging Leaders Award” in 2012, Gene has deep experience with building companies that disrupt markets. As head of eMusic, Gene was featured on the cover of Forbes Magazine as a member of the July 1999 E-Gang, and named one of the 100 most influential entrepreneurs in technology in Upside Magazine's November 2000 Elite 100. Gene led the acquisition of eMusic by Vivendi/Universal in June 2001. Before founding eMusic Gene was Director of Business Development and Director of Interactive Marketing of Pretty Good Privacy. More specifically, we touch on the early days of encryption, digital signatures, cryptocurrencies, and copyrights. As well as, the evolution of intellectual property management, the mechanics behind subscription infrastructure, how to build an alternative network to Bitcoin's, and so so much more!
The Howey Test is one of those terms that gets thrown around a lot in the crypto world when it comes to the legality of many projects. But most don't know where it comes from and what it actually means. Let's break it down.
J.W. Verret is a Professor of Law at George Mason University, Consultant at Veritas Financial Analytics LLC, Former SEC Advisory Committee Member. In this interview we discuss the SEC and crypto regulations, need for a new Howey test, Ripple XRP lawsuit, Bitcoin Spot ETF, Biden Crypto Executive order, Janet Yellen, crypto regulations, CBDCs, NFTs and more.https://itrust.capital/thinkingcryptohttps://taxbit.com/invite/thinkingcrypto/?fpr=thinkingcrypto--
In Cryptocurrency news today J.W. Verret calls out the SEC Gary Gensler's abuse of the Howey test in the Ripple XRP lawsuit. Ripple's Stuary Alderoty talks crypto regulations and the SEC. Tom Brady Tweets about Bitcoin and FTX again. Spotify is planning to add NFTs to its streaming service.https://itrust.capital/thinkingcryptohttps://taxbit.com/invite/thinkingcrypto/?fpr=thinkingcrypto
Join Danny, Molly, Zakk, and Dave for this weeks ramblings. Topics this week include: The Howey Test and whether Ether is a security, the CoinFest 2021 recap, and CoinCorner's latest R&D projects involving LNURL and NFC technologies. This episode is sponsored by: CoinCorner (coincorner.com) - The UK's leading Bitcoin exchange
Collins Belton (@collins_belton) is one of the brightest minds in crypto law. Collins 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. Show highlights: - When Collins was introduced to blockchain technology - Why Collins founded Brookwood PC - Coinbase Lend - The Howey Test & investment contracts - Gary Gensler reframing the DeFi narrative - What Collins would do as head of the SEC - The biggest legal problems in crypto today Collins was so great that we've turned the interview into two parts. Check out our next episode to hear how Collins stays on top of all things crypto, his favorite NFTs, and what's next for Collins after he "retired" from private practice. Thanks for listening - If you enjoyed the show, we'd appreciate a review!
How does the SEC determine if a token is a security? Why is DeFi particularly hard to regulate? What will regulators do about stablecoins? On Unchained, Greg Xethalis, chief compliance officer at Multicoin Capital, and Collins Belton, founding partner at Brookwood P.C., dive into crypto regulation, discussing securities laws, DeFi regulation, and why the US should be promoting stablecoins rather than trying to shut them down. Highlights: why the SEC and CFTC have not announced bigger crypto enforcement news at the end of their fiscal years why the SEC is going after DINO (decentralized in name only) companies what the Howey and Reves tests areand how the SEC uses themto determine whether an asset is a security or not why Collins and Greg think the SEC has recently begun been applying Reves more often why they think centralized crypto lending products should not be considered securities under the Howey test whether new legislation needs to be written for cryptocurrency-based products what makes Collins think the SEC is being “disingenuous” regarding the SEC registration process for crypto companies, like Coinbase how regulators will end up handling DeFi and why both Greg and Collins are long-term optimistic how the US government has a “great history” of respecting privacy and encryption why regulatory pressure is likely to build up around centralized crypto exchanges and what we can learn from the EtherDelta case why Collins thinks most cryptocurrency companies should be regulated why the SEC is the best motivator for forcing protocols to fully decentralize how smart contracts could theoretically be used to standardize SEC Commissioner Hester Peirce's Safe Harbor proposal how blockchain data makes cryptocurrency companies more transparent and easier to regulate than centralized entities what Collins and Greg think will happen with stablecoin regulation going forward why the US should be pushing to make dollar-pegged stablecoins more prominent Take the Unchained survey! Have idea son how we can improve at Unchained? Let us know. This is the last week in which you can take the Unchained survey and be entered to win a BTC Candle. Be sure to end by EOD Friday. We'll be announcing the winners in next week's show. https://www.surveymonkey.com/r/unchained2021 Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Nodle: https://bit.ly/3AXGydJ Episode Links Greg Xethalis Twitter: https://twitter.com/xethalis LinkedIn: https://www.linkedin.com/in/xethalis/ Collins Belton Twitter: https://twitter.com/collins_belton LinkedIn: https://www.linkedin.com/in/collins-belton-10226283/ Cases Mentioned SEC charged DeFi Money Market https://www.coindesk.com/markets/2021/08/06/sec-charges-so-called-defi-company-for-allegedly-fraudulent-30m-offering/ SEC charged EtherDelta https://www.coindesk.com/markets/2018/11/08/sec-charges-etherdelta-founder-over-unregistered-securities-exchange/ Howey Test and Reves Test https://securities-law-blog.com/2014/11/25/what-is-a-security-the-howey-test-and-reves-test/ https://skrypto.sewkis.com/howeys-cousin-reves-may-be-another-way-for-the-sec-to-argue-that-tokens-are-securities https://www.creditslips.org/creditslips/2021/09/coinbase-and-the-sec-.html DINO https://twitter.com/hesterpeirce/status/1423637816492318722?lang=en Regulatory Stories SEC SEC Chair Gary Gensler indicated that crypto lending and staking platforms most likely fall under US securities law https://www.theblockcrypto.com/post/117675/crypto-lending-staking-custody-gensler-sec Gensler noted that Coinbase lists “dozens of tokens that might be securities.” https://decrypt.co/80924/gensler-coinbase-sec-securities Gensler thinks crypto exchanges need to register with SEC https://www.theblockcrypto.com/linked/117524/before-senate-chair-gensler-will-argue-that-many-crypto-trading-platforms-need-to-register-with-sec dYdX airdrops token, but not to US customers https://www.coindesk.com/business/2021/09/08/users-celebrate-massive-dydx-token-airdrop-as-transfer-restrictions-lift/ Uniswap Labs investigation https://www.theblockcrypto.com/post/116633/how-the-secs-reported-uniswap-labs-investigation-could-signal-a-new-era-of-enforcement Treasury Preparing a stablecoin report https://www.coindesk.com/policy/2021/09/16/us-treasury-turns-its-gaze-to-stablecoin-issuers/ Lending Platforms BlockFi NJ extension https://www.coindesk.com/business/2021/09/22/blockfi-gets-another-extension-from-nj-regulators-on-new-interest-accounts-ban/ NJ, TX, AL move against Celsius https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/ BlockFi CEO wants federal regulators to weigh in on crypto lending regulation https://www.coindesk.com/business/2021/09/13/blockfi-ceo-wants-sec-to-weigh-in-on-crypto-lending/ Preston Bryne believes lending products are securities https://twitter.com/prestonjbyrne/status/1435452184607576066 CFTC Investigation of Binance https://www.bloomberg.com/news/articles/2021-09-17/u-s-s-binance-probe-expands-to-examine-possible-insider-trading?sref=f8taTPHn Coinbase Contract with the Department of Homeland Security https://www.coindesk.com/business/2021/09/20/coinbase-signs-deal-with-homeland-security-to-provide-analytics-software/ Coinbase will not be launching Lend https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb Original blog post: https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009 Collin's tweet: https://twitter.com/collins_belton/status/1440009283291078656 Coinbase is prepping a pitch for regulators https://www.coindesk.com/policy/2021/09/21/coinbase-to-propose-crypto-regulations-to-us-officials-sources/ Filing with National Futures Association https://decrypt.co/81022/coinbase-files-application-trade-crypto-futures Armstrong tweetstorm referencing “sketchy” SEC behavior https://twitter.com/brian_armstrong/status/1435439291715358721 Other Possible stablecoin regulations proposed by NYT https://www.nytimes.com/2021/09/17/business/economy/federal-reserve-virtual-currency-stablecoin.html Wall Street Journal article on stablecoins https://www.wsj.com/articles/biden-administration-seeks-to-regulate-stablecoin-issuers-as-banks-11633103156 a16z on stablecoin regulation https://future.a16z.com/stablecoins-stability-and-financial-inclusion/ Former regulators joining a16z https://www.theblockcrypto.com/linked/117098/fresh-out-of-the-cftc-brian-quintenz-joins-a16z-cryptos-advisory-team https://www.theblockcrypto.com/post/109661/andreessen-horowitz-new-crypto-vc-hires Former regulators joining Binance https://markets.businessinsider.com/news/currencies/crypto-binance-jay-clayton-fireblocks-regulators-sec-cftc-wild-west-2021-08 Sam Bankman-Fried on the importance of USD to crypto markets: https://twitter.com/SBF_FTX/status/1427179474538287104?s=20
How does the SEC determine if a token is a security? Why is DeFi particularly hard to regulate? What will regulators do about stablecoins? On Unchained, Greg Xethalis, chief compliance officer at Multicoin Capital, and Collins Belton, founding partner at Brookwood P.C., dive into crypto regulation, discussing securities laws, DeFi regulation, and why the US should be promoting stablecoins rather than trying to shut them down. Highlights: why the SEC and CFTC have not announced bigger crypto enforcement news at the end of their fiscal years why the SEC is going after DINO (decentralized in name only) companies what the Howey and Reves tests areand how the SEC uses themto determine whether an asset is a security or not why Collins and Greg think the SEC has recently begun been applying Reves more often why they think centralized crypto lending products should not be considered securities under the Howey test whether new legislation needs to be written for cryptocurrency-based products what makes Collins think the SEC is being “disingenuous” regarding the SEC registration process for crypto companies, like Coinbase how regulators will end up handling DeFi and why both Greg and Collins are long-term optimistic how the US government has a “great history” of respecting privacy and encryption why regulatory pressure is likely to build up around centralized crypto exchanges and what we can learn from the EtherDelta case why Collins thinks most cryptocurrency companies should be regulated why the SEC is the best motivator for forcing protocols to fully decentralize how smart contracts could theoretically be used to standardize SEC Commissioner Hester Peirce's Safe Harbor proposal how blockchain data makes cryptocurrency companies more transparent and easier to regulate than centralized entities what Collins and Greg think will happen with stablecoin regulation going forward why the US should be pushing to make dollar-pegged stablecoins more prominent Take the Unchained survey! Have idea son how we can improve at Unchained? Let us know. This is the last week in which you can take the Unchained survey and be entered to win a BTC Candle. Be sure to end by EOD Friday. We'll be announcing the winners in next week's show. https://www.surveymonkey.com/r/unchained2021 Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Nodle: https://bit.ly/3AXGydJ Episode Links Greg Xethalis Twitter: https://twitter.com/xethalis LinkedIn: https://www.linkedin.com/in/xethalis/ Collins Belton Twitter: https://twitter.com/collins_belton LinkedIn: https://www.linkedin.com/in/collins-belton-10226283/ Cases Mentioned SEC charged DeFi Money Market https://www.coindesk.com/markets/2021/08/06/sec-charges-so-called-defi-company-for-allegedly-fraudulent-30m-offering/ SEC charged EtherDelta https://www.coindesk.com/markets/2018/11/08/sec-charges-etherdelta-founder-over-unregistered-securities-exchange/ Howey Test and Reves Test https://securities-law-blog.com/2014/11/25/what-is-a-security-the-howey-test-and-reves-test/ https://skrypto.sewkis.com/howeys-cousin-reves-may-be-another-way-for-the-sec-to-argue-that-tokens-are-securities https://www.creditslips.org/creditslips/2021/09/coinbase-and-the-sec-.html DINO https://twitter.com/hesterpeirce/status/1423637816492318722?lang=en Regulatory Stories SEC SEC Chair Gary Gensler indicated that crypto lending and staking platforms most likely fall under US securities law https://www.theblockcrypto.com/post/117675/crypto-lending-staking-custody-gensler-sec Gensler noted that Coinbase lists “dozens of tokens that might be securities.” https://decrypt.co/80924/gensler-coinbase-sec-securities Gensler thinks crypto exchanges need to register with SEC https://www.theblockcrypto.com/linked/117524/before-senate-chair-gensler-will-argue-that-many-crypto-trading-platforms-need-to-register-with-sec dYdX airdrops token, but not to US customers https://www.coindesk.com/business/2021/09/08/users-celebrate-massive-dydx-token-airdrop-as-transfer-restrictions-lift/ Uniswap Labs investigation https://www.theblockcrypto.com/post/116633/how-the-secs-reported-uniswap-labs-investigation-could-signal-a-new-era-of-enforcement Treasury Preparing a stablecoin report https://www.coindesk.com/policy/2021/09/16/us-treasury-turns-its-gaze-to-stablecoin-issuers/ Lending Platforms BlockFi NJ extension https://www.coindesk.com/business/2021/09/22/blockfi-gets-another-extension-from-nj-regulators-on-new-interest-accounts-ban/ NJ, TX, AL move against Celsius https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/ BlockFi CEO wants federal regulators to weigh in on crypto lending regulation https://www.coindesk.com/business/2021/09/13/blockfi-ceo-wants-sec-to-weigh-in-on-crypto-lending/ Preston Bryne believes lending products are securities https://twitter.com/prestonjbyrne/status/1435452184607576066 CFTC Investigation of Binance https://www.bloomberg.com/news/articles/2021-09-17/u-s-s-binance-probe-expands-to-examine-possible-insider-trading?sref=f8taTPHn Coinbase Contract with the Department of Homeland Security https://www.coindesk.com/business/2021/09/20/coinbase-signs-deal-with-homeland-security-to-provide-analytics-software/ Coinbase will not be launching Lend https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb Original blog post: https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009 Collin's tweet: https://twitter.com/collins_belton/status/1440009283291078656 Coinbase is prepping a pitch for regulators https://www.coindesk.com/policy/2021/09/21/coinbase-to-propose-crypto-regulations-to-us-officials-sources/ Filing with National Futures Association https://decrypt.co/81022/coinbase-files-application-trade-crypto-futures Armstrong tweetstorm referencing “sketchy” SEC behavior https://twitter.com/brian_armstrong/status/1435439291715358721 Other Possible stablecoin regulations proposed by NYT https://www.nytimes.com/2021/09/17/business/economy/federal-reserve-virtual-currency-stablecoin.html Wall Street Journal article on stablecoins https://www.wsj.com/articles/biden-administration-seeks-to-regulate-stablecoin-issuers-as-banks-11633103156 a16z on stablecoin regulation https://future.a16z.com/stablecoins-stability-and-financial-inclusion/ Former regulators joining a16z https://www.theblockcrypto.com/linked/117098/fresh-out-of-the-cftc-brian-quintenz-joins-a16z-cryptos-advisory-team https://www.theblockcrypto.com/post/109661/andreessen-horowitz-new-crypto-vc-hires Former regulators joining Binance https://markets.businessinsider.com/news/currencies/crypto-binance-jay-clayton-fireblocks-regulators-sec-cftc-wild-west-2021-08 Sam Bankman-Fried on the importance of USD to crypto markets: https://twitter.com/SBF_FTX/status/1427179474538287104?s=20
Gino Barbaro is one of the founders of Jake & Gino, LLC – a real estate education company. He is a principal at Rand Partners, a multi-family syndication company and a certified professional coach as well as an author and podcast host. In this episode, Gino talks about the importance of mindset, how to evaluate a sponsor and some of the metrics he uses when evaluating a deal.Gino talks about the importance of educating yourself and having the right investing mindset – if you think you can do it, you can. He mentions he took life-coaching classes and it helped him understand you need to find your Why and your How will come.Gino talks about how he transitioned from buying multifamily assets without using outside money to building a brand and raising capital. He discussed the importance of finding a sponsor you know, like and trust. He also mentions that to vet a sponsor you need to do the work and evaluate their track record, their business model, their reputation and maybe even go visit them and see properties they own. Gino tells the story of the poor vetting he did when investing with a guy he calls Maserati Mike. He also discusses the Howey Test and explains how that test applies to syndications. He goes on to say some of the metrics he thinks passive investors should evaluate when considering a multifamily syndication investment.Gino talks about how cashflow gets you out of a W2, but appreciation keeps you out. This is an important factor to consider when analyzing a sponsor and a deal.Gino is a reader rather than a listener, but below are the podcasts from the Jake & Gino Community: Wheelbarrow Profits Movers & Shakers Rand CRE Show Multi-Family Zone Books he recommends:Vivid Vision by Cameron HeroldSeven Habits of Highly Effective People by Stephen CoveyMindset by Carol ZweckTo connect with Gino, you can email him at gino@jakeandgino.com.To get a copy of Gino's e-book, How To Share the Benefits of Multifamily Investing to Create Financial Independence, send him an email to gino@jakeandgino.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.
In 2018, when William Hinman was the Director of the Division of Corporation Finance within the SEC, he stated that it was felt that ETH (Ethereum) was initially offered through a securities offering, but that it was now no longer a security due to its decentralization and some other reasons whispered in the halls of the US Financial Regulators. Since then, in the light of confusion amidst the laws concerning crypto and blockchain, not only are the SEC alleging that XRP is now a security, and NFTs may be a security in certain circumstances, but that ETH 2.0 may just see itself transform back into a security once again. Join the host of Crypto and Blockchain Talk, Aviva Ounap, as she talks to financial journalist Ben Jessel of Forbes.com and discuss the Howey Test, XRP, NFTs and the big one – will ETH 2.0 fulfill the requirements of a security? Tune in to CryptoAndBlockchainTalk.com, the podcast that makes you smarter about the worlds of blockchain and cryptocurrency, and everything in between. It is our mission to interview the brightest stars in this space, bringing them straight to your ears for your listening pleasure, and best of all, for free! In addition, all interviews are streamed on Crypto24Radio.com, bringing you the latest news on all things blockchain and crypto-related all day, every day - plus music! So stay tuned and enjoy. We LOVE having you as our listener, and friend! SUBSCRIBE to our social channels and never miss an episode: SPOTIFY iTunes Stitcher Soundcloud Google Play Music Tunein Castbox Podchaser Pocket Casts Overcast iHeartRadio PlayerFM YouTube Acast Podnews Castbox Poddtoppen Feedspot Kimcoin PodBean Chartable LISTEN NOTES PodParadise Bullhorn amazon music vurbl __________________________ Do you want us to talk about your project or company? Email us: education@saviidigital.com Disclaimer: NO FINANCIAL ADVICE The information on this channel/website is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in or provided from or through this channel is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The information on this channel/website and provided from or through this channel/website is general in nature and is not specific to you, the user, or anyone else. This channel/website not a substitute for financial advice from a professional who is aware of the fact circumstances of your individual situation. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented on this channel/website without undertaking independent due diligence and consultation with a professional broker or financial advisor.
Chris Giancarlo is the former chairman of the CFTC, one of the directors at the Digital Dollar project, and Senior Counsel at Willkie Farr & Gallagher LLP. Chris discusses the crypto market, Gary Gensler confirmation at the SEC, need for better US crypto regulations and a howey test 2.0. In addition, he discusses the work he is doing at the Digital Dollar project and the need for the US to be competitive when it comes to a CBDC as other countries are moving head with this technology. Chris also talks about Bitcoin, his personal crypto investment, his band and much more.https://www.digitaldollarproject.org/https://twitter.com/giancarloMKTS
This week's episode of The Encrypted Economy features Gary DeWaal, Special Counsel to Katten Muchen and former Senior Trial Attorney for the CFTC. With former CFTC Chairman Gary Gensler about to take over the SEC, there was no better perspective to have on the show than DeWaal's. We discussed our outlooks for the new direction of the SEC in its handling of digital assets, especially how it relates to token classification. Our conversation expanded to include the XRP regulatory nightmare, DeFi liabilities, The Howey Test, and evena citrus based knock-knock joke. To hear all of that and more, make sure not to miss this latest episode of The Encrypted Economy. Topics Covered Where Will the SEC Go Under Gary Gensler? XRP & The Failures of Security vs Virtual Currency Classification Establishing Liability in DeFi Projects Balancing Privacy and Preventing Criminal Behavior The Howey Test Going Forward DeFi Innovation vs Regulation Gary's Outlook for 2021 Katten Muchin's Exciting DevelopmentsResource List Gary's LinkedIn Profile Katten Muchin Rosenman Website Bridging the Week & Between Bridges Who is Gary Gensler? Gensler's Past Comments on Crypto as Securities Simple Agreement for Future Token (SAFT) SEC Statement on Special Purpose Broker-Dealers What is XRP? SEC Complaint Against Ripple Ripple's Response to SEC Complaint The Howey Test The KickEcosystem Regulation D Offerings What is DeFi? The Aave Safety Module SEC's Settlement with Zachary Coburn of EtherDelta DOJ Cryptocurrency Enforcement Framework Report BitMex Lawsuit: Complete Overview Tomahawk Coin Case Gary's Presentation to the CFTC Technology Advisory Committee Katten's Exciting New Hire Katten's 2020 Year End Crypto Webinar
Brian and Daniel discuss their observations of cryptocurrency market prices. Specifically, that they tend to go up and down together more often than they do not. They then provide some explanations for why that might be, but also point out that it's still a bit unusual given how different many blockchain projects are from each other - like gold and shoes. Brian and Daniel then go on to explain how market prices reacted to the Security and Exchange Commission's (SEC) complaint against Ripple Labs., Inc, Bradley Garlinghouse, and Christian Larsen. Understandably, the market saw the SEC's complaint as negative for XRP, but at first the market also appeared to believe it was negative news for XLM too. Both Brian and Daniel found this a curious market response and attempt to break it down a bit. The discussion then leads to security law in the United States and what makes something a security. They attempt to explain the Howey Test and the "family resemblance test" as laypeople and how they believe it may relate to Ripple, Stellar, and other digital assets.SEC Complaint against Ripple Labs, Inc., Bradley Garlinghouse, and Christian Larsen. SEC Digital Asset FrameworkDigital Asset Transactions: When Howey Met Gary (Plastic)Support the show (https://publicnode.org/#membership)
In this episode, I tell you everything you need to know about the problems Ripple is having with the SEC. All that is to help you determine if this is the end of XRP? I warm things up by telling you about the Ripple suit timeline, going over what the SEC is, and explaining what the Hower test is. I then jump into how the Howey Test could be applied to cryptocurrencies and what SEC’s arguments are and Ripple’s counter-arguments. Finally, I summarize what actually went down and share my thoughts on how all this could impact XRP. Like this crypto guy’s voice? Well, you might be interested in my crypto YouTube channel too. Check it out here (https://www.youtube.com/channel/UCqK_GSMbpiV8spgD3ZGloSw)! Disclaimer: The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this podcast is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.
Tune in to this episode of the Security Token Show where Kyle Sonlin and Herwig Konings discuss the latest Security Token News and Insights with this week's focus on the Howey Test and its applications to the recent Uniswap UNI launch! Kyle's Company of the Week: HGX - https://hg.exchange/ Herwig's Company of the Week: Digital Debt Capital Market - https://agoradcm.com/ Fundnel Supported Private Securities Marketplace HG Exchange Commences Trading. Will Include Digital Assets Too: https://www.crowdfundinsider.com/2020/09/166920-fundnel-supported-private-securities-marketplace-hg-exchange-commences-trading-will-include-digital-assets-too/ Digital Debt Capital Markets raises £4.32mm in its second funding round to develop agoraPlatform: https://www.streetinsider.com/Business+Wire/Digital+Debt+Capital+Markets+raises+%C2%A34.32mm+in+its+second+funding+round+to+develop+agoraPlatform/17376018.html Societe Generale to Use as Many as Five Blockchains in Capital Markets Trials: https://www.coindesk.com/societe-generale-tezos-digital-securities French CBDC tests: SocGen uses Tezos blockchain: https://ledgerinsights.com/french-cbdc-digital-currency-socgen-societe-generale-tezos-public-blockchain/ Kazakhstan, Japan Sign Deals Worth $46 Million: https://caspiannews.com/news-detail/kazakhstan-japan-sign-deals-worth-46-million-2020-9-17-54/ SEC, OCC Issue First Regulatory Clarifications for Stablecoins: https://www.coindesk.com/occ-banks-can-hold-some-stablecoin-reserves?__twitter_impression=true Kraken Becomes First US Licensed Digital Asset Bank: https://www.securities.io/kraken-becomes-first-us-licensed-digital-asset-bank/ Flovtech and Archax Partner to Improve Digital Asset Liquidity: https://www.linkedin.com/posts/antongolub_liquidity-blockchain-ecosystem-activity-6713779355383828480-nUCL tZERO Appoints Former Nasdaq EVP John Jacobs to its Board of Directors: https://www.businesswire.com/news/home/20200921005438/en/tZERO-Appoints-Nasdaq-EVP-John-Jacobs-Board BnkToTheFuture makes a strategic investment in Blockpass: https://au.finance.yahoo.com/news/bnktothefuture-makes-strategic-investment-blockpass-110000283.html LCX Partners With Regula Forensics to Enhance Compliance, Reduce Fraud and Ensure a Frictionless Customer Experience: https://www.prnewswire.com/news-releases/lcx-partners-with-regula-forensics-to-enhance-compliance-reduce-fraud-and-ensure-a-frictionless-customer-experience-301131121.html The Libra Association welcomes Blockchain Capital as its newest member: https://libra.org/en-US/updates/blockchain-capital-new-member/ Figure Launches First Digital Fund Services Offering on Blockchain: https://www.oaoa.com/news/business/figure-launches-first-digital-fund-services-offering-on-blockchain/article_a19bd4d5-2a43-5582-b023-b97a04ee1f0f.html From Security Tokens to Native Digital Securities: https://fintechnews.ch/blockchain_bitcoin/from-security-tokens-to-native-digital-securities/39040/ Digital Asset Report Interview with Stephane De Beats: https://fintech.tv/stephane-de-baets-founder-president-elevated-returns/?utm_content=140406606&utm_medium=social&utm_source=linkedin&hss_channel=lcp-10440978 The runaway success of Uniswap's token raises an old question: is it a security?: https://www.theblockcrypto.com/post/78231/uniswap-token-security-debate = STO/Market Updates = Ignium Launches First-Ever STO on End-to-End Digital Assets Infrastructure: https://www.financemagnates.com/cryptocurrency/news/ignium-launches-first-ever-sto-on-end-to-end-digital-assets-infrastructure/ INX Crypto Exchange Has Started Distributing Tokens From Its Blockchain-Based IPO: https://www.coindesk.com/inx-ethereum-ipo-tokens China Real Estate International Building pilots REITs+ABT digitalization to promote the implementation of industrial digitalization: http://www.digitaljournal.com/pr/4809315 Vertalo Partners with REI Capital Growth to Launch Real Estate Investment Offerings: https://www.crowdfundinsider.com/2020/09/166824-vertalo-partners-with-rei-capital-growt-to-launch-real-estate-investment-offerings/ Aspen Digital Announces Loyalty Program to Token Holders: https://twitter.com/StephaneDeBaets/status/1306239074081046529?s=20 Aspen resort offers discount hotel rooms as real estate tokens struggle: https://cointelegraph.com/news/aspen-offers-cheap-resort-rooms-as-real-estate-tokens-struggle Jonah Schulman, the Head of Marketing at Security Token Market, Explains why Blockchain based Security Tokens are Performing Well: https://www.crowdfundinsider.com/2020/09/166791-jonah-schulman-the-head-of-marketing-at-security-token-market-explains-why-blockchain-based-security-tokens-are-performing-well/ = Events = [Event] AVCO Digital Round Table #3 | powered by CMS: https://members.cryptovalley.swiss/events/41011
Mozilla puts your money where your mouse is and partners with Scroll to launch Firefox for a Better Web. We'll explain the details, and why it might just have a shot. Plus we try out Plasma Bigscreen, cover Telegram's really bad news, and much more.
Mozilla puts your money where your mouse is and partners with Scroll to launch Firefox for a Better Web. We'll explain the details, and why it might just have a shot. Plus we try out Plasma Bigscreen, cover Telegram's really bad news, and much more.
Mozilla puts your money where your mouse is and partners with Scroll to launch Firefox for a Better Web. We'll explain the details, and why it might just have a shot. Plus we try out Plasma Bigscreen, cover Telegram's really bad news, and much more.
Fizza Khan, this week’s guest on the Innovation In Compliance show, has been in regulatory consulting for over 10 years. She is the CEO and founder of Silver Regulatory Associates, an innovative company that specializes in helping companies meet their regulatory obligations. She and Tom Fox discuss the idea of outsourced compliance as well as the interesting and often complicated world of cryptocurrency. The Cutting Edge of Outsourced Compliance Tom comments that the regulatory compliance space has different guidelines, regulations and laws than his world of ABC compliance. He asks Fizza to describe some of the cutting edge things her company is doing, in particular the idea of ‘outsourced compliance’. She replies that financial services companies must have a strong regulatory compliance program that’s not only good on paper, but practically functioning. Her company, as an outsourced compliance option, can help firms meet their obligations either by integrating into their compliance program or by working alongside an existing compliance program to ensure that it aligns with the client's interests. Services Offered Silver Regulatory Associates offers various services depending on your needs. These include: Registration and foundation services Maintenance service Assessment service Exam support service Crypto: Security or Exchange Instrument? There are many questions surrounding cryptocurrency. Whether it is a security or an exchange instrument is one of the questions facing the industry. Fizza explains that the Howey Test is used to determine whether a particular instrument will be deemed a security and needs to come under the SEC’s regulations. The test makes its determination based on three criteria: Is the investment in the form of money? Is the investment of money in a common enterprise? Is there an expectation of profits from the enterprise? Is that expectation of profit derived from the efforts of others? Tom asks Fizza to discuss what a company must do if it's determined to be a security vs an exchange instrument, and how her company can help them fulfill their regulatory obligations. She explains the implications of each scenario. Her company helps clients determine the next steps and take appropriate action to become compliant, she says. Continuous analysis and monitoring of cryptocurrency guidelines is paramount. If a company changes the way it uses, manages or distributes its cryptocurrency, this could trigger additional regulatory requirements. Preparing for the SEC Exam Tom mentions an article Fizza wrote, entitled, Uptick In SEC Exams: Four Ways To Ensure A Smooth Process. He asks her to explain how she helps companies prepare for such an exam. She replies that the article targets investment managers and broker dealers who are already regulated and registered with the SEC. The routine exam is when SEC staff examiners come to organizations to ensure that their compliance program is meeting all regulatory obligations. They also want to see that the program is being actively implemented in the business. Silver helps you prepare for a smooth exam: they analyze your existing program, help you prepare the required documents, and they even prepare you to answer questions the SEC might pose. Fizza gives several tips to help you highlight your strengths in the Day One presentation. Resources SilverRegulatoryAssociates.com fkhan@silverreg.com Article: Uptick In SEC Exams: Four Ways To Ensure A Smooth Process Article: Insight: Key Crypto Compliance Considerations In Light of Facebook's ICO Learn more about your ad choices. Visit megaphone.fm/adchoices
Nov 16, 2018 - The SEC published statements that said, (1) ICO’s issued after the July 25, 2017 DAO warning, who meet the Howey Test definition of an Investment Contract should register now, and offer Investors a claim form to refund their investment, should the investors choose, after becoming more educated on the investment by reading the detailed disclosure statements that should have been provided before the investment was made; (2) Hedge funds investing in ICO securities should have registered as Investment Companies; and (3) Exchanges are never going to be considered decentralized, and should be registered as National Securities Exchanges or Alternative Trading Systems. https://medium.com/@sashahodler/november-16-sec-statements-tl-dr-9127b2e50151
Jake Chervinsky serves as Defense Counsel in U.S. government criminal investigation's at Kobre & Kim, a law firm based in Washington, DC. In this conversation, Jake Chervinsky and Anthony Pompliano discuss Securities Law, accreditation standards, terrorism financing, the applications of the Howey Test to crypto, and why Blockstream may be the most important company in the industry. As Jake says: he's a lawyer, but not your lawyer.
Cryptoknights: Top podcast on Bitcoin, Ethereum, Blockchain, Crypto, CryptoCurrencies
We are launching a new series of podcasts called End to End ICO, where you will get an actual training and a complete understanding of the process from the people who actually launched an ICO. In this series, we are going to break down the process of launching an ICO into small bits of 5-10 minutes of audio podcast straight from the experts. This Episode will Help you Understand : What is an ICO? History of ICOs What is an STO? Difference between ICO and STO? What are SEC's Regulations? What is Howey Test?
Subscriber to our feed here Subscribe or review us in iTunes Simon Shares Steinhoff (JSE code: SNH) almost 400c then under 200c. If you're in SNH understand you are trading it, this is not a recovery story. Nothing wrong with trading but rule 1 is stop loss and rule 2 is profit. Don't forget either. Blue Label (JSE code: BLU) back below 900c. I have no idea what the story is here regarding the collapsed share price and neither does anybody I speak to. Results due late August and a trading update in the next week or two. Best is to wait for clarity from the results. Kumba (JSE code: KIO) results show what happens when everything comes together for a single commodity stock - cash flow galore and dividends. They're paying 1451c for the first six months. Sabvest N (JSE code: SVN) is doing a book build for two of their larger investors who want to exit. They are a holding company and the price is a discount to net asset value (NAV) of about 36% when a typical discount would be 15%-20%. This book build should improve liquidity and ideally help close the discount gap, but first have a look at their underlying companies they hold because while a steep discount is nice, they holdings are ultimately what you are buying. OUTStanding Money: Why do I want money? Investing in BBBEE schemes. Upcoming events 23 August ~ JSE Power Hour: Three Ramaphosa Rally Recovery Stocks 30 August ~ JSE Power Hour: Practical trading setups and rules Safcoin - stay away I first saw them on my Google news feed, a promoted story on IOL. Safcoin, not illegal but going to end in tears. That I guarantee. They're pre-selling 500,000 in an ICO at R70, then there are another 5million. In short the market will be flooded with these coins that have no use and sellers will drive the price to zero. Stay away. Read their white paper and then compare it to the white paper for Ripple or Ethereum. This white paper is just marketing material. Where does the money from the ICO go? A white paper should detail expenses etc. With Safcoin we can only assume that the R35million (500k coins at R70) goes to the founder (Neil Ferreira). What of the other 5million coins? Who holds them? Again I assume Neil Ferreira. What I also don't know is are the initial 500k ICO coins included in the 5million or added on top? How do I mine them? Who is the team behind Safcoin? On Twitter Neil Ferreira said they had a team of 12, but no mention of who this team is and typically one trumpets your team for their expertise. Who are the auditors? On Twitter Neil Ferreira said they were SmartDec Moscow Russia but we have no confirmation of this, have asked them on Twitter, as yet no reply. Coin limit is apparently 5.5million, but when you check the website he used to create them (yip not their own code even though they claim 12 people involved) it says 222billion coins. That's about US$1trillion! Heck out government should start a coin and clear our national debt. Ask you self what problem does this new coin solve? If it is not solving a problem then why will anybody want to buy it? No buyers equals over supply and price crash. Consider the fact that over half of new ICOs fail, and this is a conservative estimate. I have seen stats that suggest less than 10% of ICOs ever get to market. Scams, Scoundrels And Multimillion-Dollar Frauds: How To Check An ICO Isn't A Con They mention they will list on local exchanges. Which? Smarter people then me asked on twitter (with no answers); What mining algorithm does your blockchain use? What is the consensus algorithm used by the project and how was it picked? Where do the tokens fall on the Howey Test? You get paid a 5% referral fee if you send people. Referrals always bother me, they smack of pyramid schemes. As I said up front, not illegal. But before you rush off with your hard earned money, do some homework and 5 minutes on this coins offering and it is not going to make anybody a single cent - except for Neil Ferreira. On listing Neil Ferreira could use his income from ICO sales to be an active buyer pushing the price higher, but this never works for long as eventually one runs out of money and real demand reverts to what it really is - and here it likely is zero. I could go on and on with the issues about this new coin. Short version remains - stay away. Another local crypto scam, this time called Safcoin / 500k offered at R70 = R35m (nice work if you can get it) / After ICO 5m will flood market / No details on how I can mine / Paying referrals (always dodge) / Lots of paid copy (such as link below)https://t.co/PqoZyHyIsq — Simon Brown (@SimonPB) July 24, 2018 JSE – The JSE is a registered trademark of the JSE Limited. JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.
Epicenter - Learn about Blockchain, Ethereum, Bitcoin and Distributed Technologies
Nick Morgan, a former attorney at the SEC, joined us to discuss their recent report on the DAO and what it means for the ICO boom. Topics covered in this episode: The history and mandate of the SEC Nick’s years as a trial attorney at the SEC How the Howey Test is used to determine if something is a security The application of the Howey Test to the DAO case The weaknesses in their argument that token holders relied on the effort of others Why the SEC did not prosecute the Slock.it founders Why the SEC will likely focus on token sales involving fraud How the SEC’s limited resources will make it hard for it to impact the ICO boom The implications of the SEC report for cryptocurrency exchanges Episode links: SEC Press Release on The DAO SEC Report on Investigation of The DAO Seven Takeaways from the DAO Report - Kyle Mitchell EB134 – Emin Gün Sirer And Vlad Zamfir: On A Rocky DAO Nicolas Morgan Website The DAO Report: Understanding the Risk of SEC Enforcement - CoinDesk This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/198
Another week, another Flagship! This week, the CryptoBasic Avengers have assembled to talk shit about big tech. The roasting session begins with Telegram and ends with Libra, given the fact that all bullshit leads to the Big Zucc. Additionally, Epic Games is starting to get its feet wet with crypto and eToro is making... interesting strides in the world of bot trading. All of the above and more on today's episode, so tune in! Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Crypto Question Added to 1040 Form for 2019. $550M Worth of ETH is locked up in various DeFi Solutions at the moment Satoshi is officially a word in the Oxford Dictionary Oxford added 650 words to the their English dictionary and one of them was Satoshi. "The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin. Bitcoin was added in 2013. Other words added were whatevs and chillax lol Bitcoin Mining Revenue Jumps By $1bil in 2 months Took 8 years to reach $5 billion revenue, One year after that it reached $10 billion in August 2018 And now it's about to eclipse $15bill in early 2020. Booking.com Latest Firm To Drop Out Of Libra Booking.com left on Monday of this week and now 21 of it's original 28 backers are still there. Seven backers have all left within the past week. Happened on the same day FB was in Geneva with all the other companies formally signing on. Telegram In Hot Water With The SEC SEC has formally instructed Telegram Group to halt the sales of cryptocurrency Gram "filed an emergency action and obtained temporary restraining order against two offshore entities" Why? - "conducting an alleged unregistered, ongoing digital token offering in the U.S. and overseas" Remember they raised $1.7 billion So by failing to register the sale of tokens back in Jan 2018, which are considered securities, they are in violation of the Securities Act of 1933 “Our emergency action today is intended to prevent Telegram from flooding the US markets with digital tokens that we allege were unlawfully sold,” failed to provide investors with info regarding business operations, financial condition, risk factors, & management And remember this quote from a NYT article we covered a few weeks ago on the show "Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or give back the money." Making matters worse, violation of Securities Act may mean Telegram has to forfeit the $1.7b it raised “We have repeatedly stated that issuers cannot avoid the federal securities laws just by labeling their product a cryptocurrency or a digital token,” So what are they going to do? Telegram Looks to Cut Deal With TON Blockchain Investors After SEC Order They notified investors that the TON project will launch later, to April 30 2020 From an email to investors "We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.” The investors (token holders) have to agree to delay, and there are two groups (2 rounds of investing) 2nd round investors have till Oct 23 to sign & approve, If investors choose not to sign they can get back approximately 77% of their money. 1st round investors got different communication Court hearing scheduled for Oct 24 Libra Time! Like we said last week, I guess Libra gets its own section. Booking.com has dropped out of the Libra foundation. Mercado Pago drops out of the Libra foundation Ebay has dropped out of the Facebook Libra foundation. Stripe has dropped out of Facebook Libra foundation. Visa has dropped out of Facebook Libra foundation Mastercard has dropped out of Libra Foundation Warren Davidson - US Senator (R)-Ohio: Facebook should drop the Libra project and Adopt Bitcoin. NANO has released a plugin for Unreal Engine . Tons of game son this engine - Assassin's Creed, Batman games, Borderlands, literally hundreds of games. I checked out the Demo, it was super cool. The game had a real time wallet transaction list. You paid to join the game in Nano, and then every monster you killed earned you nano in real time, transferred to your wallet as soon as you killed the monster. Then you could spend nano to buy items in the game. Imagine a Fortnite or other battle royale game where you spent a little money to join, and first place got it all. A reddit user pointed out 0 spending $500 and give them their allowance there. CFTC Chairman gives opinion on Ether CFTC Chairman Heath Tarbert has said ether is a commodity Speaking to Yahoo Finance he made the following statement “We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now, It is my view as chairman of the CFTC that ether is a commodity.” Concerning currencies created by hard forks “It stands to reason that similar assets should be treated similarly. If the underlying asset, the original digital asset, hasn’t been determined to be a security and is therefore a commodity, most likely the forked asset will be the same. Unless the fork itself raises some securities law issues under that classic Howey Test.” eToro Launches a Crypto Trading Bot that is 100% Based on Twitter sentiment. I hate that this thing might work. It uses an AI to scrap Twitter for sentiment on crypto assets and allocates the portfolio accordingly. Requires a $2k min investment. It's in partnership with the TIE Data Analysis firm. Current Allocations DONT OPEN 47% DASH 25% EOS 21% XRP 5% IOTA 2% ETC I was a little bit disingenuous - There are only 13 monitored assets. BTC, ETH, XRP, IOTA, BCH, NEO, ETC, DASH, EOS, XLM, LTC, ZEC, ADA They've also said they're eliminating 90% of all posts because they believe they come from bots. HOLY SHIT. They also have to program the AI to figure out if EOS referrs to, say, the EOS blockchain or the EOS camera. They said they know there's a ton of XRP shills out there, for instance, pushing an XRP tweetstorm every day, but they compare it to the previous day to make any decisions on allocation THAT'S A SCAM S Korea/US bust giant child porn site by following bitcoin trail (Maybe it's not a scam but thought it should go here) SK man arrested, 337 others charged in global sweep rescued 23 victims since march 2018 Jong Woo Son, 23, operated a Darknet market that accepted Bitcoin and distributed more than 1mill sexually explicit videos involving children. Serving 18 months in prison in SK. Seems low. “Our agency’s ability to analyze the blockchain and de-anonymize Bitcoin transactions allowed for the identification of hundreds of predators around the world,” Fort said. “The scale of this crime is eye-popping and sickening.” IRS Criminal Investigation Division also claimed credit. Don Fort, chief of the division Shots Fired! Tone Vays was on a Panel with CSW and he showed up wearing a shirt that said "We are all Satoshi Nakamoto - Except Craig S. Wright". The panel was actually amazing they all hated each other. Watch it here.
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