How to Fight Back Against Rogue Regulators

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 19 February 2023

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Featured on this week’s “Long Reads Sunday”: “Regulating Crypto by Enforcement and Stealth Will Set the US Back” – Michael Casey https://www.coindesk.com/consensus-magazine/2023/02/10/regulating-crypto-by-enforcement-and-stealth-will-set-the-us-back/ “The Right Analogy for Crypto Markets” – Nic Carter https://twitter.com/nic__carter/status/1625221587673702400 “How to Fight the Rogue SEC” – Balaji Srinivasan https://twitter.com/balajis/status/1625720725645692928 “The State of Crypto Policy” – Jake Chervinsky https://twitter.com/jchervinsky/status/1625568626462887945 Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Alexey Surgay /Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is produced and distributed by CoinDesk.
0:20.4	What's going on, guys? It is Sunday, February 19th, and that means it's time for Long
0:25.3	Read Sunday. Before we get into that, however, if you are enjoying the breakdown, please go
0:29.3	subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the
0:32.8	conversation, come join us on the Breakers Discord. You can find a link at the show notes or go
0:36.9	to bit.ly slash
0:38.1	breakdown pod. All right, friends, well today we are really picking up on the theme of 2023 so far,
0:45.1	which is, as it turns out, not just fallout from FTX, but specifically the emergence of a
0:51.1	dramatic regulatory battle around crypto in the United States.
0:55.4	I think many of us felt that this was inevitable coming off of the events of last year,
1:00.2	but it is playing out in very specific ways which I think demand specific responses.
1:04.5	We're going to read one essay and a couple of threads today,
1:07.4	and we start with a piece by Michael Casey from Coindesk called Regulating Crypto
1:12.1	By Enforcement and Stealth will set the U.S. back. Michael writes,
1:16.6	call me naive, but I've always resisted the conspiracy theory that the anti-cryptostance
1:20.8	adopted by certain U.S. regulators is meant to strangle this industry and protect the financial
1:25.1	establishment it seeks to disrupt. I've preferred
1:27.8	to see it as a wrong-headed but well-intended effort to protect consumers. Recent events have me
1:32.7	wondering if something more sinister isn't afoot, and that maybe I am naive. First, all indications
1:38.7	are that the Securities and Exchange Commission will outright prohibit companies from providing
	...

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