Welcome, bankless nation to a special live stream. Today on the show we are continuing the conversation down the crypto rabbit hole of securities, which is again a unique conversation to have, but one that is very, very important for the crypto space.

Yesterday on the show on the state of the nation with Ryan, we had Brian Fry, who is a securities lawyer and also crypto native.

And we had a fantastic discussion as to what securities laws really are, because I think the current understanding of the broad crypto industry is actually missing a little bit of the mark as to why we have securities laws, because securities came before the SEC was even a thing.

So I've been going in researching the 1929 stock market crash, the securities acts of 1933 and 34, and getting back down to first principles of what it means to be a security in what securities laws are.

And this has been a supremely interesting exploration into this world of securities.

And today on the show we're bringing on another crypto securities lawyer, Mike Selig, who also recently wrote an article for coin desk about the current state of regulation as it comes to the crypto industry.

And so we are going to continue the same conversation we had yesterday, but and then also get into a little bit more details as to what the crypto industry expect, expect out of the regulators in 2023.

What are the cases to watch, what should we be paying attention to, and how do we get out of the SEC, the things that we want.

So I hope you stay tuned for this fantastic and hopefully very educational conversation.

Before we get into this conversation with Mike Selig, however, we got to talk about our friends and sponsors at Osmosis, because Osmosis, if you guys are not familiar, is the epicenter of liquidity in the cosmos ecosystem.

And so if you have some extra time this bear market to go exploring some frontiers, check out Osmosis.

It is where all assets in the cosmos ecosystem get their liquidity, but it's not just a decentralized exchange.

There's other things you can do on Osmosis as well, because of what it is as an app chain in the cosmos ecosystem.

So there's a link in the show notes if you want to explore the frontier of liquidity in the cosmos ecosystem.

And as well as seeing what the app chain ecosystem can do.

So without further ado, we're going to get into the conversation with Mike Selig. And just again, as a reminder, I'm going to make the claim and we're going to have this conversation with Mike in a second.

In fact, if we re-roll the dice of humanity over and over and over again, we will come up with securities laws over and over and over again.

The securities laws are an innate fact of financial instruments and financial assets.

And so understanding why that is true, I think is incredibly important for the crypto industry.

Because what are we doing in crypto? We are speedrunning the history of money and finance.

We are speedrunning the history of human coordination and securities laws and the spirit of securities laws and why they are actually bullish for our financial assets.

Understanding why this is true is deeply important for building the crypto industry the right way.

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