Best case...

Imagine if we had a federal government that was more concerned about over reach and not continually pushing the boundaries of its authority....

It’s not a huge conceptual leap to imagine running a website to be deemed money transmission by an overzealous prosecutor with an axe to grind if transmission doesn’t require control and can be passive broadcasting. That’s a huge first amendment problem for the government if

The SEC's attempt to regulate crypto is fundamentally flawed in (at least) 2 ways:

1) it fails to achieve the goal of 'investor protection'; and

2) SEC leadership is politically motivated to bring enforcement actions they will not have to see through

Interesting comparison data between preferred stock and discounted 409A common stock at various stages of a company life through Series D. VC financing nerds may enjoy as something I’m sure many of us have wanted quantified. Tbh, surprised gap post C is still as large as 60%

Well stated. Financial weaponization as a policy matter is not going to make U.S. favorable to international business. The weaponization of SWIFT in '22, Tik Tok, and now this.

Observations/Vibes from Token2049 Dubai.
· Did anyone mention the flooding?
· Drivers won’t drive through 2-3 feet of water to pick you up (see brook, cancel ride)
· Moving luggage from a hotel surrounded by water (but ironically w.out water) would be a compelling reality TV

Crypto bros at #TOKEN2049 Dubai right now:

Anyone flyimg out to Token 2049 today? Staring at my boarding pass at JFK...

Michael Mosier Eric Hess twitter.com/robin_j_brooks…

If oil was a currency, then every driver in the U.S. would be evading OFAC sanctions.

Iran: 1.8 million barrels of oil/day, despite sanctions (Mar.2024)
Russia: $94 billion oil revenue Q1 2024; 53.5% increase; trading $15/barrel above price cap. (Bloomberg, Apr.2024)
E.Warren: “cryptocurrency is now the method of choice for countries to evade sanctions” (5/4/23)

Was not aware that Singapore was granting MPI institution licenses after the long drought on PSA licenses.theblock.co/post/286419/gs…

Interesting chart from the new BIS report re. the different ways regulators refer to stablecoins....

The amount of time I spend on rules, regulations, laws, regulatory guidance, best practices + working w/ risk + working w/ compliance - belies the fact that I’m apparently in a ‘lawless industry.’ New does not mean rogue. There are so, so many highly ethical people in #crypto .

Some thoughts, as I am someone working in the crypto space:

1 - A fair and just outcome. If anything, it should have been a longer sentence. FTX was a massive breach of trust and predicated on deliberate lies and misconduct. If your broker took all your stocks, secretly sold

Fixed it:

COURT RULES COINBASE IS NOT A BROKER BY REASON OF WALLET APP, ALLOWS SEC'S OTHER CHARGES TO MOVE FORWARD BEYOND INITIAL PLEADINGS STAGE

This is the correct legal action to take in response to the U.S. Securities and Exchange Commission overreach on crypto.

If they are going to purport to regulate the entire space via undisclosed rules and enforcement, there is a procedure for dealing with that. You challenge them, pre-enforcement, in court on

It's hard to overstate the amount of good DeFi Education Fund has done for this space. Another important initiative here. I'm proud to count them among my colleagues.

The granting of interest in relation to stablecoins, being EMTs and ARTs under MiCA, is prohibited if it's being granted by either the issuer or a CASP. BCAS - Crypto Regulatory Advisory takes a deep-dive into 4 prominent yield-bearing stablecoins to study some initial implications under MiCA /1 👇