The UK Argues Crypto Is a New Type of Property

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 7 August 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. On this edition of the “Weekly Recap,” NLW homes in on an interesting report out of the U.K. that would define crypto as a fundamentally new type of property – something that some crypto lawyers have been arguing in the U.S. for some time. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - 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. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Peter Dazeley/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.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, August 6th, and that means it's time for the weekly
0:27.9	recap. Before we get into that, a quick note. There are two ways to listen to the breakdown podcast.
0:34.2	You can listen on the CoinDesk Podcast Network, which comes out every afternoon and features
0:38.6	not only the breakdown but other great shows, or you can listen on the breakdown only feed,
0:43.0	which comes out a few hours later in the evening. Wherever you choose to listen, I appreciate
0:47.7	all of you who have taken the time to leave a rating or review. Lastly, a disclosure, as always,
0:53.0	in addition to being a sponsor of the show, I also work
0:55.3	with FTX. All right, well, it has been a hell of a week. Yesterday, I called this hack week,
1:01.6	as we discussed the nomad exploit from Monday and the private key slash wallet attack on Tuesday and
1:07.8	Wednesday that led to a significant number of salana-based wallets being drained,
1:12.9	and that was far from the only thing going on.
1:15.4	The institutional discussion came back in a big way.
1:18.7	Fairfax County announced that its pension funds were approved to start investing in
1:22.7	yield farming operations, and BlackRock, the world's biggest asset manager, announced an integration with
1:28.5	Coinbase Pro for customers using its Aladdin platform.
1:32.3	Now, right after I covered that institutional show, we also got news that Brevin Howard,
1:37.1	a $23 billion hedge fund, was explicitly getting into the crypto game as well.
1:42.7	One of their founders, Alan Howard, has been one of
1:45.1	the most active Tradfai hedge fund folks in the crypto space for some time. But according to Blockworks,
	...

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