The Chopping Block: Crypto as a Public Good, Tornado Cash Ruling, and SEC’s New Direction - Ep. 772

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 25 January 2025

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, and Tom Schmidt chop it up about the latest in crypto. This week, we're joined by special guest Peter Van Valkenburgh, Executive Director of Coin Center, to tackle one of the most pivotal moments in crypto policy. In this episode, we dive into the groundbreaking Fifth Circuit ruling on Tornado Cash, unpack its implications for blockchain privacy, and discuss the challenges noncustodial developers like Roman Storm are facing. We also break down Trump’s crypto executive order, the SEC’s new direction under Hester Peirce, and speculate on what a U.S. strategic Bitcoin reserve might mean for the future. Show highlights 🔹 Crypto as a Public Good: Why open, permissionless technologies need protection—and how Coin Center defends them. 🔹 Tornado Cash Ruling: The Fifth Circuit overturns OFAC sanctions—what this means for blockchain privacy and freedoms. 🔹 Roman Storm Case: DOJ’s controversial crackdown on noncustodial developers and its implications for innovation. 🔹 Trump’s Crypto EO: Breaking down the ban on CBDCs and the push for U.S. leadership in digital assets. 🔹 SEC’s New Direction: Hester Peirce’s crypto task force and the future of enforcement and regulation. 🔹 CFTC vs. SEC: Will Congress resolve the jurisdiction battle over crypto markets? 🔹 Senate Banking’s Subcommittee: How Senator Lummis could lead a new era of crypto-friendly policy. 🔹 Strategic Bitcoin Reserve: Speculating on what a U.S. Bitcoin reserve might look like. 🔹 2025 Regulatory Outlook: How shifting policies could redefine crypto’s future. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly Guest: ⭐️Peter Van Valkenburgh, Executive Director of Coin Center Disclosures Timestamps - 00:00 Intro 01:34 Coin Center & Crypto as a Public Good 05:04 Crypto Policy Shifts & Trump's Executive Order 16:11 Senate Banking Digital Assets Subcommittee 20:20 SEC Crypto Task Force 32:10 Hester Peirce's Safe Harbor Proposal 35:43 Strategic Bitcoin Reserve: Expectations and Realities 41:12 Tornado Cash & OFAC Sanctions 45:28 Legal Implications for Noncustodial Developers 57:51 Future of Crypto Regulation & Coin Center's Role Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Just like the internet is a public good, you want an organization to stand up and represent the interests of the technology and its openness and its availability to people.
0:09.6	Because people will stand up for all the use cases and all the profitable businesses that get built on that kind of thing, like the Googles of the world with the internet or the coinbases of the world with crypto.
0:19.5	But somebody should be there standing
0:20.9	up for just the general technology as a public good.
0:24.1	Not a dividend.
0:25.2	It's a tale of two clon.
0:26.3	Now, your losses are on someone else's balance.
0:29.0	Generally speaking, air drops are kind of pointless anyways.
0:31.6	Unimmedged trading firms who are very involved.
0:34.6	I like that eat is the ultimate puns.
0:36.7	D5 protocols are the antidote to this problem.
0:39.4	Hello, everybody.
0:40.4	Welcome to the chopping block.
0:42.0	Every couple weeks, the four of us get together and give the industry insider's
0:44.6	perspective on the crypto topics of the day, although today it's only three of us.
0:48.5	Quick intro, first you got Tom, the Defy Maven and Master of Memes.
0:51.5	Hello, everyone.
0:53.5	Joining us, we have special guest, Peter, policy powerhouse at Coin Center.
0:58.3	Hi. Thanks for having me, guys.
1:01.0	Absolutely. And I received the head hype man at Dragonfly.
1:04.3	We're early stage investors in crypto, but I want to caveat that nothing we say here
1:07.2	is an investment advice, legal advice, or even life advice.
	...

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