Joris Delanoue, Co-CEO of Fairmint, joins the podcast to discuss how his SEC-registered transfer agent has already issued and managed over $1B of equity on-chain. We explore the legal distinctions between mirrored tokens and natively on-chain securities and how compliance can be built directly into smart contracts.
Timestamps:
➡️ 00:00 — Intro
➡️ 00:46 — Sponsor: Day One Law
➡️ 01:09 — Why bring equity on-chain?
➡️ 04:28 — Turning cap tables into smart contracts
➡️ 09:39 — Registering as an SEC transfer agent
➡️ 12:28 — How blockchain changes the “source of truth”
➡️ 16:09 — Fixing accredited investor rules
➡️ 22:26 — Compliance by automation vs. intermediation
➡️ 26:38 — Lessons from the Paperwork Crisis
➡️ 28:40 — Addressing human error
➡️ 30:20 — Protecting ownership in a tokenized world
➡️ 32:02 — What’s next for Fairmint
& more.
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.
Resources:
Follow Joris on X: @Joris_DLN
Stablecoins are no longer a side story — they’re on the path to becoming the backbone of global digital finance.
To unpack what the GENIUS Act means for the U.S. dollar, stablecoin issuers, and banking competition, I sat down with Austin Campbell, Founder and Managing Partner of Zero Knowledge Consulting and an Adjunct Professor at Columbia Business School.
Austin previously led Stable Value Trading at JP Morgan, co-headed Digital Asset Rates Trading at Citi, and served as Head of Portfolio Management at Paxos.
In this episode, Austin explains the key provisions of the Genius Act, the misconceptions around the “interest” prohibition, and how competition between currencies could expand freedom — and reshape the global economy.
Timestamps:
➡️ 00:00 — Intro
➡️ 00:46 — Sponsor: Day One Law
➡️ 01:09 — Austin’s path from Wall Street to crypto
➡️ 05:40 — Why the Genius Act is the most important bipartisan financial law since Dodd-Frank
➡️ 10:31 — Stablecoins as global infrastructure for the U.S. dollar
➡️ 15:14 — Key pillars of the Genius Act: reserves, insolvency, and compliance
➡️ 26:20 — Privacy, enforcement, and what Genius gets right
➡️ 37:19 — The “interest” prohibition — and the exception most people missed
➡️ 45:00 — What comes next for stablecoin issuers and U.S. regulators
& much more.
Sponsor: This episode is brought to you by Day One Law, a boutique law firm helping crypto startups navigate complex legal challenges. Subscribe to Day One’s free monthly newsletter for legal and regulatory updates.
Resources:
📄 Crypto and the Evolution of Capital Markets paper.
🎧 Law of Code episode #145 with Tuongvy Le (@TuongvyLe12).
📰 Austin's Zero In Newsletter
Disclaimer: Nothing in this podcast is legal advice. The views expressed are those of the host and guest and do not necessarily reflect those of their organizations. Always consult your own counsel before making legal decisions.
DUNA — the Decentralized Unincorporated Nonprofit Association — is one of the most important new legal structures for crypto governance.
To understand its history, tax implications, and jurisdictional trade-offs, I sat down with David Kerr, founder of Cowrie, a crypto-native advisory firm specializing in U.S. tax compliance and entity structuring.
David was instrumental in drafting the Wyoming DUNA Act, and in this episode we discuss the evolution of UNAs, why Wyoming stepped up, the tax and compliance realities facing projects, and what this means for the future of DAOs in the U.S.
Timestamps:
➡️ 00:00 — Intro
➡️ 00:46 — Sponsor: Day One Law
➡️ 01:09 — Origins of the DUNA: why unincorporated associations matter
➡️ 03:32 — Early U.S. entity law, UNAs, and Wyoming’s first adoption in 1993
➡️ 07:53 — Why some states resisted hybrid entity forms
➡️ 12:30 — Nonprofit ≠ tax exempt: clearing up misconceptions
➡️ 16:15 — How DAOs and protocol treasuries fit with the DUNA model
➡️ 20:45 — Legislative drafting in Wyoming and lessons from Texas
➡️ 27:07 — Secretary of State & local support
➡️ 29:16 — When does a U.S. DUNA make sense for international projects?
➡️ 31:54 — Tax trade-offs: advantages, disadvantages, and compliance
➡️ 38:54 — Treasury management, W-8/W-9s, and reporting obligations
➡️ 41:56 — The DUNA as “where governance goes”
➡️ 47:39 — Building Cowrie: tax, filings, advisory, and administrator services
➡️ 49:11 — Crypto’s “LLC moment”
& more.
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Subscribe to Day One's free monthly newsletter for legal updates.
Resources:
DOJ Criminal Division Chief Matthew Galeotti recently stated: “Merely writing code, without ill intent, is not a crime.” He emphasized that developers of neutral tools should not be held liable for someone else’s misuse.
Joining me to unpack what this means for developers is Amanda Tuminelli, Executive Director of the DeFi Education Fund. We discuss the DOJ’s remarks, DEF’s role in shaping the conversation, and what comes next for developer protections, market structure legislation, and global DeFi policy.
Timestamps:
➡️ 00:00 — Intro
➡️ 00:46 — Sponsor: Day One Law
➡️ 01:09 — DOJ’s statement: “writing code is not a crime”
➡️ 03:17 — How the Tornado Cash trial might have been different
➡️ 05:15 — DEF’s advocacy on Section 1960
➡️ 07:05 — Remaining gray areas: sanctions, facilitation & intent
➡️ 10:30 — How developers can show good faith reliance
➡️ 12:25 — Where developer protections may land in market structure bills
➡️ 14:30 — DEF’s next priorities: Roman Storm, market structure, SEC engagement
➡️ 17:11 — Defining “facilitate” and why rulemaking could help
➡️ 19:08 — Global impact of U.S. leadership on DeFi
➡️ 20:57 — Stablecoins, GENIUS Act, and regulatory momentum
➡️ 21:41 — Final thoughts on clarity and innovation
& more.
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Subscribe to Day One's free monthly newsletter for legal updates.
Resources:
📄 DOJ remarks by Matthew Galeotti in Jackson, WY
📜 DEF coalition letter on developer protections
📬 Contact: info@defieducationfund.org
Disclaimer: Nothing in this podcast is legal advice. The views expressed are those of the host and guest and do not necessarily reflect those of their organizations. Always consult your own counsel before making legal decisions.
Sponsor: This episode of the Law of Code podcast is brought to you by Day One Law, a boutique corporate law firm for founders and funds in crypto. Learn more at dayonelaw.com.
The regulatory winds in Washington have shifted dramatically, and Anchorage Digital has been in the middle of it all. Kevin Wysocki, Head of Policy at Anchorage Digital, joins the podcast to discuss:
01:07 – White House crypto report & GENIUS signing
02:20 – Anchorage as the first federally chartered digital asset bank
03:20 – Stablecoins, de-banking
05:08 – Institutional demand post-GENIUS
07:03 – Partnering to on-shore stablecoin issuance
10:36 – Market structure legislation: custody, vertical integration & yield
14:06 – Timeline for Senate and House bills
15:58 – Bipartisan engagement on Capitol Hill
18:33 – Policy sticking points & compromises ahead
20:18 – Market maturity tests & Anchorage’s stance
21:48 – Cross-border custody & protecting self-custody
23:25 – Taxes, tokenization & national security on the horizon
26:22 – Bankruptcy remoteness & why custody matters
Kevin is a Capitol Hill veteran, having worked for the House Financial Services Committee, Rep. Andy Barr, and Rep. Tom Emmer, before moving into government affairs at Meta and now leading policy efforts for the first federally chartered digital asset bank.
Disclaimer: The information provided in this podcast is for educational purposes only and should not be construed as legal or investment advice.
This episode is brought to you by Day One Law, a boutique corporate law firm helping crypto startups navigate complex legal challenges. Visit dayonelaw.xyz to get in touch, or subscribe to their free newsletter for crypto legal updates.
Show notes:
In early August, the Uniswap Foundation proposed that Uniswap Governance adopt a Wyoming-registered DUNA (Decentralized Unincorporated Nonprofit Association). A first-of-its-kind structure for DAOs, the DUNA could be crypto’s LLC moment.
Joining me to discuss this development is Brian Nistler, General Counsel of the Uniswap Foundation, and Rodrigo Seira, Special Counsel at Cooley. We discuss what a DUNA is, why Uniswap proposed it, and what it means for governance participants and token holders.
Timestamps:
01:07 – What a DUNA is and why DAOs need it
02:16 – Wyoming's innovation
07:14 – Membership without KYC
09:22 – Uniswap Governance, not Uniswap Foundation
11:25 – Why DUNA is the right fit
13:57 – Liability for token holders?
17:17 – Preserving Uniswap's decentralization
21:13 – Administrators and ministerial agents
24:30 – Will courts respect the liability shield?
25:59 – Tax obligations and tradeoffs
29:37 – Lessons for other DAOs
34:04 – How DUNA fits into Uniswap Unleashed
35:15 – Where the DUNI proposal stands
36:19 – Should non-U.S. projects consider DUNAs?
37:43 – Resources to learn more
Disclaimer:
Nothing in this podcast is legal advice. Please consult a lawyer for advice specific to your situation.
Resources:
The Roman Storm trial ended with one guilty verdict, raising big questions about what comes next for developers and open-source protocols. To unpack the implications, I’m joined by Peter Van Valkenburgh, Executive Director of Coin Center.
Timestamps:
➡️ 00:00 – Introduction
➡️ 01:00 – Explaining the Roman Storm verdict
➡️ 03:00 – FinCEN's 2019 guidance
➡️ 07:40 – Implications for future regulatory guidance
➡️ 14:20 – First Amendment and due process defenses
➡️ 21:30 – Future of peer-to-peer crypto
➡️ 27:40 – Coin Center’s six-month policy review
➡️ 35:30 – The President’s Working Group Report
➡️ 38:50 – Why crypto must be more than an investment
Sponsor: This episode is brought to you by Day One Law, a boutique corporate law firm helping crypto startups navigate complex legal challenges. Visit dayonelaw.xyz to get in touch, or subscribe to their free newsletter for crypto legal updates.
Disclaimer: This podcast is for educational purposes only and is not legal or financial advice.
Crypto tax expert Jason Schwartz joins the podcast to break down what founders get wrong about taxes — and what’s changing in 2025.
Jason is a partner at Cahill NXT, where he specializes in the tax treatment of digital assets, financial products, and decentralized protocols. In this episode, he shares insights on how projects are approaching structuring, the rise of 501(c)(4) entities, common tax pitfalls with Cayman foundations, and how the IRS might soon leverage AI to change enforcement.
Timestamps:
➡️ 00:00 — Intro
➡️ 01:18 — Sponsor: The Hedera Council
➡️ 01:23 — Crypto tax trends
➡️ 04:23 — Can offshore projects return onshore?
➡️ 05:12 — Common tax mistakes & how they could backfire
➡️ 11:31 — What happens if the IRS comes knocking
➡️ 13:55 — Major crypto tax developments under the new administration
➡️ 18:56 — Status of Lummis’ tax proposal and what might come next
➡️ 24:50 — Staking: why current proposals may not solve the problem
➡️ 31:11 — Airdrops: what upcoming legislation could get wrong
➡️ 36:30 — How the IRS might use AI and what that means for crypto traders
➡️ 42:24 — Why a mark-to-market election could provide needed clarity
➡️ 44:39 — Lending, wrapping, and other grey areas: what’s “reasonable”?
& more.
Sponsor: This episode is brought to you by the Hedera Council, the decentralized governing body for the Hedera network. They are currently hiring a Legal Counsel, and interested candidates can apply at https://hedera.com/future?gh_jid=4574329006. Be sure to tell them you heard of the position on the Law of Code podcast!
📬 Jason on Twitter: @CryptoTaxGuyETH
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.
SEC Commissioner Hester Peirce and Crypto Task Force Chief Counsel Mike Selig return to the podcast to share updates from the SEC’s Crypto Task Force — plus their thoughts on tokenized securities, market structure legislation, exemptive relief, and the role of decentralization in regulatory design.
Timestamps:
➡️ 00:00 — Intro
➡️ 00:46 — Sponsor: Day One Law
➡️ 01:09 — Tokenizing securities: what facts and circumstances matter
➡️ 02:51 — What exemptive relief could look like
➡️ 04:51 — Timeline for SEC action on tokenization
➡️ 05:14 — Key regulatory risks in tokenized markets
➡️ 07:44 — Could ZKPs enable on-chain compliance?
➡️ 09:55 — Will smart contract auditors exist at the SEC?
➡️ 10:38 — How decentralization fits into new frameworks
➡️ 15:27 — Best practices for speaking with the SEC
➡️ 17:38 — Pathways for offshore projects to re-engage in the U.S.
➡️ 18:45 — Passport regime vs. U.S.-specific compliance
➡️ 20:45 — What Crypto Task Force meetings actually look like
➡️ 22:09 — How the SEC views DePIN models and incentives
➡️ 23:40 — Could yield-bearing stablecoins become regulated products?
➡️ 24:54 — SEC–CFTC joint rulemaking: what’s next
& more.
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.
Resources:
📄 SEC Crypto Task Force information page
📬 Contact: crypto@sec.gov
📜 “Enchanting, but Not Magical: A Statement on the Tokenization of Securities” — Commissioner Peirce’s statement on tokenized securities.
Derivatives expert Katherine Kirkpatrick Bos, General Counsel of StarkWare, joins the podcast to discuss the first-ever CFTC-regulated "perpetual-style" futures contracts to occur onshore — a move that may pull trading volume back from offshore exchanges and reshape global market dynamics.
Prior to joining StarkWare, Katherine was Chief Legal Officer of Cboe Digital, a U.S. regulated exchange and clearinghouse for crypto spot and crypto derivatives markets.
Timestamps:
➡️ 00:00 — Intro
➡️ 00:53 — Sponsor: Day One Law
➡️ 01:27 — What are 'perps'?
➡️ 04:29 — Why have perps been offshore?
➡️ 07:48 — How are these new contracts CFTC-regulated?
➡️ 12:24 — Comparing regulated perps to offshore offerings
➡️ 15:56 — Benefits and protections for U.S. traders using onshore perps
➡️ 20:06 — Could this repatriate crypto volume to U.S.-regulated venues?
➡️ 24:48 — The future of crypto derivatives regulation: urgent areas needing clarity
& much more.
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.
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.
Stablecoins have grown from a total value of ~$2 billion in 2019 to over $230 billion by early 2025, enabling $33 trillion in transactions across 236 million wallets.
But beneath this growth lies a deep — and fragile — dependence on the U.S. Treasury market.
Professor Yesha Yadav of Vanderbilt Law School and Brendan Malone, formerly of Paradigm, the Federal Reserve Board, and MIT, discuss their paper on the critical but underexamined relationship between U.S. dollar stablecoins and Treasuries.
They unpack why Treasuries act as the “anchor” for stablecoins, explore operational and liquidity risks, and outline what policy changes might be necessary to avert a crisis.
Timestamps:
➡️ 00:00 — Intro
➡️ 01:10 — Sponsor: Hedera Council is hiring a legal counsel
➡️ 02:40 — Why is the U.S. Treasury market so critical to stablecoins?
➡️ 04:32 — Treasuries as “cash equivalents” and risk-free assets
➡️ 07:33 — What does it mean to “hold” Treasuries?
➡️ 11:38 — Liquidity and operational risks
➡️ 14:34 — Changing structure of Treasury markets
➡️ 16:12 — 24/7 crypto vs. limited-hour Treasury markets
➡️ 20:06 — Systemic risk scenarios
➡️ 28:27 — The urgent need for preemptive policy solutions
➡️ 33:22 — Regulatory fragmentation: “everyone’s responsible, so no one is”
➡️ 38:51 — Possible reforms: more short-term issuance, repo market, reserves access
➡️ 40:53 — Treasuries as “risk-free” assets — myth vs. reality
➡️ 46:23 — Potential Fed facilities and why they aren’t in place yet
➡️ 51:06 — Bonus: Hedera Council’s General Counsel Gregory Schneider on their open position.
Sponsor: Hedera Council is hiring a legal counsel. Click here for more information about the role, or follow this link: https://hedera.com/future?gh_jid=4574329006.
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.
Jessi Brooks is the General Counsel & Chief Compliance Officer at Ribbit Capital. Prior to Ribbit, Jessi was an attorney at the U.S. Department of Justice, where she worked on high-profile crypto and national security cases.
Jessi explains the blockchain tools used in the Bitfinex hack, why crypto > cash, how the DOJ works with stablecoin issuers, and much more.
The conversation also covers Jessi’s journey from prosecuting domestic violence cases to crypto, and her perspective on building bridges between regulators and the industry.
Timestamps:
➡️ 00:57 Lessons from the Bitfinex hack
➡️ 06:28 Unhosted wallets and the DOJ
➡️ 09:42 The role of seizure & forfeiture
➡️ 13:44 Increase in crypto-related cases
➡️ 19:18 Jessi’s early DOJ crypto cases
➡️ 23:23 Al-Qassam Brigades operation
➡️ 31:31 How DOJ and industry can align
➡️ 35:49 Her work at Ribbit Capital and advising startups
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.Visit https://www.dayonelaw.xyz/ to get in touch.
#crypto #cryptocurrency #law #blockchain #bitcoin #ethereum
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.
What steps should founders and their counsel take when launching a token or product in web3?
In this episode, Jacob Robinson is joined by Nima Maleki (@Nimathefish), Counsel at Day One Law. Nima designs legal roadmaps for clients, including product counseling, token launches, and fundraising structures.
Nima shares what’s market for launching blockchain products — ranging from regulatory and decentralization strategies to token valuations, whether founders still need a foundation for their project, and where tax concerns may arise throughout the process.
Timestamps:
➡️ 00:00 – Intro
➡️ 01:03 – Sponsor: Day One Law
➡️ 01:32 – Agenda: Six Steps to Product / Token Launch
➡️ 04:10 – Questioning Decentralization Strategies
➡️ 06:57 – Step One: Structuring Your Business
➡️ 17:15 – Step Two: Fundraising
➡️ 24:51 – Step Three: Token Valuation
➡️ 28:48 – Step Four: Product / Token Launch
This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges.
Visit https://www.dayonelaw.xyz/ to get in touch.
#crypto #cryptocurrency #law #blockchain #bitcoin #ethereum
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
In this episode, Jacob Robinson is joined by Justin Wales (@bitcoin_wales), Head of Legal (Americas) at Crypto.com and author of The Crypto Legal Handbook.
Sponsor: This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.
With the release of the book’s second edition, Justin shares what’s new: from stablecoin legislation and state-level licensing regimes to AI’s intersection with crypto and the shifting regulatory tone under a new administration. We also discuss how legal frameworks are evolving, the risks of regulatory whiplash, and why meme coins, AI agents, and decentralized settlement are at the center of today’s legal debates.
Timestamps:
➡️ 00:00 Intro
➡️ 00:46 Sponsor: Day One Law
➡️ 02:00 Second Edition Highlights & Historical Context
➡️ 04:00 State-Level Developments & Money Transmission Rules
➡️ 06:00 Outlook on Stablecoin and Market Structure Legislation
➡️ 08:00 How to Read the New Edition
➡️ 10:00 Operation Chokepoint, Debanking & Tax Updates
➡️ 11:30 The Rise of Meme Coins & Industry Disincentives
➡️ 14:30 SEC Enforcement, Risk Appetite & Innovation
➡️ 17:00 AI x Crypto: Communication, Trust & Open Protocols
➡️ 20:00 Crypto's Place in Financial Infrastructure
➡️ 22:30 Jurisdictional Competition & Market Pressure
➡️ 25:00 The Cost of Fitting Crypto Into Legacy Systems
➡️ 27:00 Global Posture Shift & Optimism for the Future
➡️ 29:00 Final Thoughts
The Crypto Legal Handbook: You can find it online for $30, here: https://thecryptolegalhandbook.com/
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
If the law were truly “technology-neutral,” what would that look like in practice for a P2P securities transaction via smart contracts?
In this episode, Jacob Robinson is joined by Tuongvy Le (@TuongvyLe12), who has served as General Counsel of Anchorage Digital, Partner and Head of Regulatory and Policy at Bain Capital Crypto, and Deputy GC and Compliance Officer at Worldcoin. She also spent almost six years at the SEC as Senior Counsel in the Division of Enforcement and Chief Counsel of the Legislative and Intergovernmental Affairs Office.
Together, they discuss her recent Fortune article on why the SEC needs to take a hands-off approach to peer-to-peer transactions (link) and market structure history and regulation (link).
Timestamps:
➡️ 00:00 Intro
➡️ 0:46 Sponsor: Day One Law
➡️ 03:43 Peer-to-Peer Transactions: Analog vs. Digital
➡️ 06:36 The Intersection of DeFi and Securities Law
➡️ 12:40 Industry Self-Regulation and Best Practices
➡️ 15:40 Understanding Market Structure: A Historical Context
➡️ 24:31 Designing a New Market Structure for Crypto
➡️ 32:25 The SEC's Evolving Stance on Crypto Innovation
This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
In this episode, Jacob Robinson is joined by Dr. Chris Brummer (@ChrisBrummerDr), Professor of Financial Technology at Georgetown Law and Founder & CEO of Bluprynt, an AI and blockchain-powered platform for automating regulatory disclosures.
Together, they unpack the SEC’s recent statement: Offerings and Registrations of Securities in the Crypto Asset Markets — a document that some say could mark a paradigmatic shift in the agency’s approach to digital asset regulation. We also discuss his article on this guidance.
Timestamps:
➡️ 00:00 Intro
➡️ 0:46 Sponsor: Day One Law
➡️ 01:37 What is Bluprynt?
➡️ 07:32 Why this SEC guidance is timely and valuable
➡️ 09:41 The SEC is paying down regulatory debt
➡️ 16:03 Smart contract disclosures
➡️ 18:40 The investment contract question
➡️ 21:25 How projects can navigate this paradigm shift
This episode is brought to you by Day One Law — a boutique law firm helping crypto startups navigate complex legal challenges. Visit https://www.dayonelaw.xyz/ to get in touch.
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
In this conversation, Jacob Robinson and Amanda Tuminelli, Executive Director of the DeFi Education Fund, delve into the criminal code provision punishing unlicensed money transmitting businesses, why this is relevant for developers of non-custodial crypto projects, and how a recent memo from the Department of Justice on ending “the regulatory weaponization against digital assets" might not have gone far enough.
Timestamps:
➡️ 00:00 Intro
➡️ 0:46 Sponsor: Day One Law
➡️ 01:05 What is Section 1960 and how does it impact crypto developers
➡️ 03:42 What case law tells us about Section 1960
➡️ 06:11 How money transmitting and money service businesses are defined
➡️ 09:14 The DOJ's memo on ending regulation by enforcement against crypto
➡️ 13:40 The charge at the heart of the Tornado Cash and Samurai Wallet cases
➡️ 18:48 Tornado Cash sanctions and OFAC's delisting: Not exactly as advertised
The DeFi Education Fund is hiring! You can learn more about their open positions here: https://www.defieducationfund.org/jobs-internships
This episode of the Law of Code podcast is brought to you by Day One Law — a boutique corporate law firm founded by recurring guest (and friend of the show) Nick Pullman. Nick and his team at Day One provide strategic legal counsel to startups, crypto projects, and Web3 innovators. Visit https://www.dayonelaw.xyz/ get in touch.
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
Jacob Robinson and Larry Florio delve into the SEC's recent statement on stablecoins and how SEC staff applied the Reves and Howey tests to determine whether stablecoins are considered securities.
Show highlights:
[2:00] What this statement means for lawyers
[3:30] When stablecoins aren't securities
[7:00] The platonic ideal of a stablecoin
[11:00] Applying the Reves test to Covered Stablecoins
[18:00] Applying the Howey test to Covered Stablecoins
[25:00] The new-look SEC
& much more.
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
This episode of the Law of Code podcast is brought to you by Day One Law — a boutique corporate law firm founded by recurring guest (and friend of the show) Nick Pullman. Nick and his team at Day One provide strategic legal counsel to startups, crypto projects, and Web3 innovators. You can get in contact with them via this link.
Josh Lawler is a partner at Zuber Lawler, where he leads the firm’s Emerging Technologies Group with a particular emphasis on blockchain technology. Josh previously practiced as a corporate securities and M&A attorney at Skadden, Arps.
Jener Sakiri is an associate at Zuber Lawler and focuses on transactional and regulatory matters. He often works with clients involved in blockchain technology. He was previously the Chief Legal Officer of Niftify, a white label NFT marketplace solution for small-medium businesses.
Show highlights:
[3:52] Securities and crypto
[9:05] "crypto contracts" and U.S. regulation
[23:00] Realistic options for raising $1 million-plus
[24:57] The market
[26:34] A new regulatory framework for the advent of decentralized exchanges
[33:05] Banning the tools such as Tornado Cash.
& much more.
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
Nick Pullman (@NickPullmanEsq) is Corporate Counsel and founder of Day One Law Corporation, where he provides legal solutions for tech startups and investors. Nick was previously head of legal at an NFT startup and an associate at Cooley and DLA Piper.
In this conversation, we cover:
[2:53] Nick's introduction to Bitcoin
[7:33] What's market: SAFEs, SAFTs
[19:39] Other methods of raising capital Nick's seeing
[24:21] Token grants
[32:47] Entity structuring
& much more.
Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.
