Welcome back to the breakdown,

an everyday analysis breaking down the most important stories in Bitcoin, Crypto, and Beyond with me, NLW.

The Breakdown is distributed by Coin Desk.

Welcome, welcome for the first time ever to the breakdown.

We're going to start with regulators and what's happening on the regulatory front.

We're going to go into this question about defy on Bitcoin, which seems to be

coming up more and more. And then third and finally, we're going to get into Square's new Blue

Sky Initiative. So in August of this year, Jake Schrovinsky, who's one of the leading voices in

the Crypto Legal Corps wrote on Twitter, eventually the vast majority of crypto-related lawsuits

will be common

and unremarkable.

Cases will be filed, litigated, and settled without much notice or fairfare.

The fact that we're so interested in tracking these cases today shows how early we are and

how far we have to go.

I think that was kind of prophetic because just over the last 24-48 hours, we've seen a bunch

of SEC enforcement action that kind of looks like that.

In fact, Stephen Paley wrote, it was another legal expert in the crypto field, he wrote,

the SEC's ICO enforcement work has quickly become indistinguishable from other types of enforcement

litigation. Crypto's novelty receives no special treatment like any other securities offering.

You have to register. You can't make misstatements and you can't misuse funds.

So the case that they're talking about is the SEC charged Shoppin, the CEO of Shoppin, Iran Ayal, with basically securities fraud over their $42 million

ICO. So Coin Desk writes, the SEC announced Wednesday that Ayal had been charged with defrauding

...