l just looked up the history of this phrase. I thought it would be Carl Schmitt the famous legal philosopher (and Nazi) but it's a Twitter account in gamer gate era? Lol

it's fun to be on x (née twitter) because it's like being on a speeding rocketship that's falling apart but still better than being in the vacuum of space

FYI the 10 years of clear guidance from FinCEN that says that money transmission in crypto requires control over the funds is irrelevant because pans transfer heat and usb cables transfer bits without controlling heat and bits.

America, home of the free. Where you will be accused of crimes for choosing not to design software the way the government wants you to design software:

That wallet in your pocket? it's a money transmitter. How do I know? Because the DOJ says that if you can only put money into it and take money out of it, then you don't actually have control over it, the wallet developer does.

At noon ET today Peter Van Valkenburgh will be discussing and taking questions re the DOJ's recent crackdown on non-custodial wallets and developers.

Palley on the rule of law and practice as a lawyer in this country: How are you supposed to advise clients if nothing has the permanence of law? Not only is the regulator's website saying something different than the DOJ, it's been saying the same different thing for over 10

twitter space later today with Peter Van Valkenburgh to talk about this latest insanity around self custody

Kermit's rainbow connection is actually about growth hacking

Who said that every wish
Would be heard and answered
When wished on the morning star?
Somebody thought of that
And someone believed it
Look what it's done so far
What's so amazing that keeps us stargazing And

Thank God for the Bill of Rights

There's a noteworthy phenomena in crypto wherein you can only do something once.

Proof of work fair distribution via mining?
Bitcoin.
After Bitcoin asic farmers get the entire reward.

ICO?
Ethereum.
After Ethereum professional speculators and funds rather than early

Also, while I’m feeling pissed off: I honestly can’t believe that SDNY has the nerve to argue that FinCEN guidance doesn’t count anyway. Come on guys, I get that you want to win, but it’s not a game of whack a mole. You can win without making that destabilizing and very unfair

Just think about how you’d feel as a client if your lawyer explained that the regulatory guidance on a federal government agency website isn’t dispositive and you might still go to prison if you follow it but that you can’t ask the prosecutors for guidance in the alternative.

This move by the DOJ could have chilling effects on the entire tech sector. We need to stand up for developer rights and innovation. #CryptoRegulation #TechFreedom #PrivacyMatters

Government over reach like this doesn’t just threaten crypto and private payments, it threatens all kinds of open source decentralized software projects. If a software developer that makes a privacy wallet is liable for transactions, why not an encrypted messaging app developer?

Coin Center x Peter Van Valkenburgh defend what should be defended — your rights

coincenter.org/dojs-new-stanc…