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Unchained

Why the SEC Is Probing Yuga Labs and Coin Center �Is Suing Treasury - Ep. 407

Unchained

Laura Shin

News, Tech News, Business News

4.61.3K Ratings

🗓️ 14 October 2022

⏱️ 38 minutes

🧾️ Download transcript

Summary

Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center’s lawsuit against the US Treasury over the sanctions on Tornado Cash.  Peter Van Valkenburgh, director of research at Coin Center, comes to talk about the SEC probe into Yuga Labs, how to determine whether something is a security, and Coin Center’s lawsuit against the US Treasury over the sanctions on Tornado Cash.  Show highlights: whether there’s an over-reliance on the Howey Test and how a token being non-fungible doesn’t mean it’s not a security what constitutes an investment contract and how it works in the Metaverse the consequences for NFT holders and issuers if the NFTs are considered securities why Coin Center is suing the US Treasury over the Tornado Cash sanctions Who the plaintiffs are whether this lawsuit differs from the one Coinbase is supporting how to solve the issue of bad actors like North Korea using tools such as Tornado Cash to launder money the remedy Coin Center is looking for in the lawsuit against the Treasury  how long the lawsuit could take to be resolved Thank you to our sponsors! Crypto.com Peter Twitter  SEC probe into Yuga Labs Unchained article CrypTones thread on land sales Coin Center lawsuit over Tornado Cash sanctions Coin Center lawsuit and statement Unchained article  Coinbase Backs Tornado Cash Lawsuit Against U.S. Treasury North Korean hacks Treasury Press release on the sanctions Previous coverage of the Tornado Cash sanctions on Unchained: Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No  Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi, everyone. Look at my Unchained, your new high-precise for all things crypto. I'm your host,

0:08.2

Laura Shin, author of The Crypto Beans. I started covering crypto seven years ago,

0:13.1

and as a senior editor at Forbes was the first mainstream media reporter to cover

0:17.1

cryptocurrency full-time. This is the October 14th 2022 episode of Unchained.

0:22.6

The Crypto Beans, the TV series, I'm excited to announce that I'm working with executive

0:26.9

producers at Playground Entertainment, who've optioned the rights to adopt my book for the small screen.

0:31.4

From our first conversation, they grasped my vision for the book, and I felt like I was talking

0:35.3

with fellow crypto people. This is going to be juicy. Stay tuned! Crypto moves at lightning speed.

0:41.3

For the latest crypto updates, be sure to subscribe to our daily newsletter at UnchainedCrypto.substac.com.

0:48.3

Again, that's UnchainedCrypto.substac.com. With the Crypto.com app, you can buy,

0:54.0

earn, and spend crypto in one place. Download and get $25 with the code,

0:58.8

Laura, link in the description. Today's guest is Peter van Valkenberg, the Director of Research

1:04.2

at CoinCenter. Welcome, Peter. Hey, Laura. It's always great to be here.

1:09.4

There are multiple topics we could discuss this week, but we're going to start with the SEC

1:14.3

probe into UGLABS. The agency is investigating whether any of its sales constituted securities

1:20.4

offerings, though to be clear at this moment, UGLABS has not yet been accused of any wrongdoing.

1:25.4

Peter, when you heard this news, which of its NFTs or sales do you think this probe can be about?

1:32.7

So, I don't want to comment about any specific products, because I wouldn't want to

1:38.2

sort of prejudice and investigation, or offer unsolicited legal advice to anyone.

1:42.9

But I think, in general, there's an issue in the crypto community,

1:47.9

wherein people are very wary, and rightly so, of the enforcement of securities laws for tokens

1:54.3

that are fungible, and are not so wary with regard to NFTs. And I think a lot of that comes down

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