Is Voluntary Regulation the Right Approach to DeFi?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 22 October 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Circle and FTX US. On this edition of the “Weekly Recap,” NLW looks at the state of crypto legal proceedings and global regulatory discussions, including: Hodlonaut wins against Craig Wright in Norway Coinbase, Blockchain Association and others file amicus briefs in Grayscale SEC suit U.K. updates crypto regulation plan EU debates DeFi (Grayscale is a subsidiary of Digital Currency Group, the parent company of CoinDesk.) - Nexo Pro allows you to trade on the spot and futures markets with a 50% discount on fees. You always get the best possible prices from all the available liquidity sources and can earn interest or borrow funds as you wait for your next trade. Get started today on pro.nexo.io. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “War” by Enoch Yang and “The Life We Had” by Moments. Image credit: We Are/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, Circle, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, October 22nd, and that means it's time for the weekly recap.
0:29.2	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,
0:33.1	give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:36.8	come join us on
0:37.6	the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:42.7	Also a disclosure, as always, in addition to them being a sponsor of the show, I also work with
0:46.8	FTX. Happy Saturday, everyone, it's another fine fall weekend. I hope you are enjoying it wherever
0:53.4	you are. Today wherever you are.
1:01.4	Today we are doing a full classic weekly recap looking at a ton of stories that we haven't had a chance to review yet.
1:08.4	Largely concentrated on the legal and regulatory because, God damn, if that's not everything that we're talking about in crypto during this bear market.
1:11.1	I guess other than the post-narrative institutionalization that we talked about yesterday. So let's start with a victory for the good guys. The cat has
1:16.9	won his case. TLDR, Craig Wright, not so affectionately known as fakedoshi among crypto-twinter
1:22.7	was planning to bring a defamation lawsuit against Twitter user Haudelanot for a series of tweets from
1:27.8	March 2019. In those tweets, Haudelanot called Wright a fraud and a scammer, a frankly common
1:34.2	refrain on crypto Twitter. Now, Wright has often gotten litigious around this stuff, even though
1:39.6	there are a huge number of people who routinely say these same things. Remember, to this day,
1:44.0	Wright has never produced evidence to prove he is same things. Remember, to this day, Wright has never
1:44.5	produced evidence to prove he is Satoshi. Now, the UK's court system with regard to defamation
1:49.9	is fairly wonky and heavily favors the plaintiff. What Bitcoin did's Peter McCormick, for example,
	...

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