The ⚖️Sheriff of Wall St⚖️ keeps posting Wells Notices in the crypto industry, this time to 🏹Robinhood🏹. #Regulationbyenforcement wix.to/MSFiuDa

3 crazy things out of this report:
1. $3.1 trillion illicit through the traditional financial system.
2. Bitcoin/Crypto is not even mentioned in the report as an issue.
3. KYC/AML policies have no measurable impact on stopping illicit transactions.

Funny how “technology-neutral principles-based regulation” becomes “[Defendant] has arranged its business so as not to comply with the law” when a regulator declines to provide guidance for a new technology.

Today U.S. Securities and Exchange Commission filed its response to our request to file an interlocutory appeal with the 2nd Cir. The Commission couldn't help contradicting its own arguments for the same kind of appeal in Ripple. Here's just example--compare what they said before to what they say now. 1/3

Citizens call it financial privacy
Regulators call it concealing or obfuscating

Wow, that's a super aggressive move.

The Mt Gox saga continues with Alexander Vinnik pleading guilty to money-laundering
wix.to/xjjRYbf

We need your support! NFTdotstorage is officially live
Gitcoin!

Help us fund our commitment to the sustainable preservation of NFTs!

Any contribution, no matter how small (eg: $1), plays a crucial role in securing a sustainable future for NFTs, benefiting creators and…

🔔 FTX's amended reorganization plan has been filed with a promise to repay 98% of creditors 118% of their claim, valued as at the date of the Chapter 11 appointment.
📈🌐💼 This is a highly unusual outcome in insolvency. wix.to/glo29cb
#FTX #Insolvency

SEC continues its carpet bombing campaign against crypto, issuing another Wells to Robinhood

You have to wonder whether at this point Gensler has bit off more than he can chew

Robinhood’s CLO, Dan Gallagher, is a former SEC commissioner appointed by Obama

This article by POLITICO is a breathtaking example of the kinds of things that get planted in news articles by political operatives and are agenda-driven hit pieces masquerading as news. It's important that you know what these are when you see them (and both sides do this stuff,…

A Federal Court decision in Australia has helped shed light on the line between a financial product which happens to involve a blockchain and when a blockchain itself might be found to be a financial product. wix.to/Af8oLET
#regulation #cryptolaw #ASIC

A fantastic evening at #EthGlobal Sydney Meetup with Upside’s Greg hosting!

technology is not meth. a website is not Sudafed.

that a piece of a tech stack *can* be used in a regulated activity shouldn't place the burden of proving innocent use on the builder.

we shouldn't criminalize roads, wires, and pipes.

🔥 Changpeng 'CZ' Zhao, Binance's former CEO, received a lower than expected 4-month sentence despite prosecutors pushing for 3 years over anti-money laundering charges. #Crypto #Binance #Crypto Law wix.to/GMhSYeo

Good morning to everyone who believes that the bank secrecy act is an octopusine relic of the 1970s and was intended to apply to banks and that the government shouldn’t put people in prison for building the future of money.

'Being able to do a software update and have several million cars suddenly go from manual driving to autonomous driving, I think, will be the single biggest asset value increase in history.'

Under the SEC's theory of the Howey Test, Elon just turned every Tesla into a security.

Given the SEC's presumed (but unexplained) position seems to be that the merge turned ETH into a security, worth revisiting this paper we co-wrote with Jake Chervinsky and Amy Aixi Zhang

Today, Consensys filed a lawsuit against the Securities and Exchange Commission.

The goal behind this is to ensure that Ethereum remains a vibrant and indispensable blockchain platform and to preserve access for the countless developers, market participants, and institutions…

More regulatory enforcement coming to Australian Web3?
ASIC Chair Joe Longo has said that ASIC:
🖋️ will enforcing existing laws on crypto;
🏛️ recognizes that crypto is partly unregulated; and
📜 is consulting on a regulatory framework for Australia

wix.to/gTrhZMk