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#1 - On July 10, 2024, the French Financial Market Authority (AMF) published a summary document of the responses to its discussion paper on decentralized finance (DeFi) opened in June 2023. In the analysis and recommendations made by stakeholders, 5 points stand out⬇️

Once again, it looks like the current U.S. Securities and Exchange Commission regime is playing favorites & picking winners, whispering guidance to select companies instead of publicly sharing it We deserve to know what they're saying, so I submitted 9 FOIA requests on their actions related to SAB 121 🧵 /1

LMAO

1) This week in Congress and crypto: What was supposed to be a hectic week for crypto in DC has largely been kicked to September. Presidential politics has taken over everything and crypto is caught in the middle. As the campaigning kicks into high gear, here's what to watch:

Agree on the need for more skeptical voices to think beyond the bag pumping implications of the Fed holding $BTC, but there's a difference btwn not selling or even maintaining a small reserve (don't ask me to define, please) and the Fed actively engaging in building a larger

Shocker, Sen. Elizabeth Warren doesn’t like election prediction markets, despite the clear public benefit from real-time information. Now we’re just opposing innovation for opposition’s sake. How is this serving your constituents?

Facts...I think there is a lot of wishful projection on the Harris admin at this point re. the topic of crypto and technology. Gensler remaining until 2026 is a big one...if you want to send a message of a change of tone, that's an easy place to start. She doesn't have to go full

so many of you will remember my reporting around "operation choke point 2.0" from the spring of 2023; TLDR, Biden's financial regulators, namely the Fed, FDIC, and OCC launched a crackdown on banks covering the crypto space...

18/ bad actors and crime. Here is my challenge: can anyone explain, coherently, why money laundering in crypto should lead to jail time and money laundering in tradfi should not? Do we really think your choice of ledger is the real problem here? Imagine a world where if you

This is surprising. 9 days public notice is shorter than usual, and that SED is naming the Deputy Director only Acting Director means 1) there hasn’t been a a full search process completed yet and 2) that SEC Chair Gensler isn’t entrusting the career Deputy with the top job.

Unfortunate that the SEC is bringing a bad faith case under a damned if you do, damned if you don't analysis. Cumberland has been a good faith actor in the space for years...I don't understand the theory of the SEC going after the good actors.

As always, Jonathan Galea pumping out high quality information on digital assets

I've spent tens of hours with journalists explaining that we desperately want federal legislation to provide clear rules for crypto exchanges and for stablecoin issuers, only to find the resulting article state glibly that the crypto industry's political efforts are designed to

Proud to work with my friends at Crypto Council for Innovation and Blockchain Association on this amicus brief to support DeFi Education Fund and Beba. Airdrops are not— by definition—securities offerings. Nor should they be treated as such.

I was in a cryptolawyer chat for years. While everyone disagrees about these issues I could say that every single lawyer in the chat would at least individually have a *coherent* theory of the tokens vs securities issue and be capable of presenting it, unlike the SEC. Shameful.

Elizabeth Warren henchman Sherrod Brown has been defeated by Bernie Moreno for Ohio Senate. This is what happens when you mess with the crypto army.

If you’re blaming Democrats defeat primarily on misinformation or disinformation, just stop what you’re doing and consider logging off for a few days. This wasn’t a loss on comms or messaging. This was voters hating the outcome of our last four years of governance.

Someone in my network is looking for a new opportunity. Current project is wrapping up. Passionate about the intersection of law and crypto. DM me if interested.

Comical coming from Queen Chokepoint 2.0

I give JRS props for being a pragmatist here. He is not conceding his position, he just does not want to find himself shut out of working on crypto entirely b/c he was part of the anti-crypto army. We will remember the anti crypto army roster, but I still give him the props for