Stephen Palley, partner at Anderson Kill, discusses a few hot-button crypto regulatory issues like lending products, whether DeFi protocols fall under the SEC’s purview, and more. Show highlights: <ul> <li style="font-weight: 400;" aria-level="1">why Stephen thinks the SEC and CFTC did not announce more extensive crypto enforcement news this week</li> <li style="font-weight: 400;" aria-level="1">what areas the SEC Chair Gary Gensler and the SEC as a whole are focused on regulating</li> <li style="font-weight: 400;" aria-level="1">what Stephen has heard about whether stablecoins that are not fully-backed are securities</li> <li style="font-weight: 400;" aria-level="1">why Coinbase decided to drop its Lend product</li> <li style="font-weight: 400;" aria-level="1">why Stephen is skeptical that decentralized protocols should be regulated under existing securities laws</li> <li style="font-weight: 400;" aria-level="1">how securities law is contrary to consumer protection in light of DeFi protocols and airdrops</li> <li style="font-weight: 400;" aria-level="1">why DeFi AMMs should be regulated differently than centralized market books</li> <li style="font-weight: 400;" aria-level="1">whether companies running a front-end for a DeFi protocol should be considered an exchange</li> <li style="font-weight: 400;" aria-level="1">why crypto devs are “going Satoshi” because of US securities laws</li> </ul>   Thank you to our sponsors! Crypto.com: <a href= "https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021"> https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021</a>        Nodle: <a href= "https://bit.ly/3AXGydJ">https://bit.ly/3AXGydJ</a>  Sorare: <a href= "https://sorare.com/">https://sorare.com</a>         Episode Links   Stephen Palley <ul> <li style="font-weight: 400;" aria-level="1">Twitter: <a href= "https://twitter.com/stephendpalley">https://twitter.com/stephendpalley</a></li> <li style="font-weight: 400;" aria-level="1">Unchained podcast appearance speaking about Ripple: <a href= "https://unchainedpodcast.com/the-secs-lawsuit-against-ripple-and-2-execs-what-you-need-to-know/"> https://unchainedpodcast.com/the-secs-lawsuit-against-ripple-and-2-execs-what-you-need-to-know/</a> </li> </ul>   Topics Covered   Lending Products <ul> <li style="font-weight: 400;" aria-level="1">Coinbase blogs regarding Lend</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009"> https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009</a> </li> <li style="font-weight: 400;" aria-level="2"><a href= "https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb"> https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb</a></li> </ul> </li> <li style="font-weight: 400;" aria-level="1">Lend overview: <a href= "https://www.jdsupra.com/legalnews/a-september-to-remember-coinbase-avoids-7608131/"> https://www.jdsupra.com/legalnews/a-september-to-remember-coinbase-avoids-7608131/</a> </li> </ul> <ul> <li style="font-weight: 400;" aria-level="1">Brian Armstrong angry tweet storm</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://twitter.com/brian_armstrong/status/1435439291715358721"> https://twitter.com/brian_armstrong/status/1435439291715358721</a></li> </ul> </li> <li style="font-weight: 400;" aria-level="1">BlockFi and Celsius overview</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/"> https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/</a> </li> </ul> </li> </ul>   SEC + Gary Gensler <ul> <li style="font-weight: 400;" aria-level="1">How SEC Chair Gary Gensler’s Views on Crypto Have Changed Since His MIT Days</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://unchainedpodcast.com/how-sec-chair-gary-genslers-views-on-crypto-have-changed-since-his-mit-days/"> https://unchainedpodcast.com/how-sec-chair-gary-genslers-views-on-crypto-have-changed-since-his-mit-days/</a></li> </ul> </li> <li style="font-weight: 400;" aria-level="1">SEC Chair Gary Gensler Washington Post Q&A</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://www.washingtonpost.com/washington-post-live/2021/09/21/transcript-path-forward-cryptocurrency-with-gary-gensler/"> https://www.washingtonpost.com/washington-post-live/2021/09/21/transcript-path-forward-cryptocurrency-with-gary-gensler/</a> </li> </ul> </li> <li style="font-weight: 400;" aria-level="1">Gary Gensler + Elizabeth Warren letters</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://www.warren.senate.gov/newsroom/press-releases/warren-releases-response-from-sec-chair-gensler-affirming-need-to-regulate-cryptocurrency-exchanges-and-protect-investors-and-our-financial-system"> https://www.warren.senate.gov/newsroom/press-releases/warren-releases-response-from-sec-chair-gensler-affirming-need-to-regulate-cryptocurrency-exchanges-and-protect-investors-and-our-financial-system</a> </li> </ul> </li> </ul> Other <ul> <li style="font-weight: 400;" aria-level="1">Uniswap delisting certain tokens through its front end</li> <li style="list-style: none; display: inline"> <ul> <li style="font-weight: 400;" aria-level="2"><a href= "https://www.theblockcrypto.com/linked/112399/uniswap-labs-culls-synthetic-stock-and-derivatives-citing-evolving-regulatory-landscape"> https://www.theblockcrypto.com/linked/112399/uniswap-labs-culls-synthetic-stock-and-derivatives-citing-evolving-regulatory-landscape</a> </li> </ul> </li> </ul>

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Unconfirmed: People Expected a Big SEC Enforcement Action This Week. What Happened? Days - Ep.277

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