JB

@thecryptolawyer.eth

102 Following

147 Followers

JB pfp

@thecryptolawyer.eth

Super excited and long overdue to share that my legal note on "Why Self-Custody Wallet Platforms Are Not Brokers Under the Securities Exchange Act of 1934" has been published in the online edition of the GW Law Business & Finance Law Review. https://gwbflr.org/why-self-custody-wallet-platforms-are-not-brokers-under-the-securities-exchange-act-of-1934/

1 reply

3 recasts

12 reactions

JB pfp

@thecryptolawyer.eth

In light of the SEC's upcoming roundtable on crypto trading, the SEC should issue interpretive guidance excluding an AMM-based DEX, like @uniswap, from the definition of an "exchange" in the Exhange Act. https://www.sec.gov/files/ctf-input-berkun-040325.pdf

1 reply

1 recast

2 reactions

JB pfp

@thecryptolawyer.eth

My written input to the SEC Crypto Task Force is now live on their website (third from the bottom) https://www.sec.gov/about/crypto-task-force/crypto-task-force-written-input In this letter, I propose a three-step test to analyze the "efforts of others" prong of Howey, consistent with caselaw.

1 reply

3 recasts

14 reactions

JB pfp

@thecryptolawyer.eth

Hi everyone, last semester I worked on two papers: (1) a legal argument on why DEXs are not securities exhanges, and (2) a policy argument on reforming the Bank Secrecy Act. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5127416 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5127448

1 reply

4 recasts

16 reactions

JB pfp

@thecryptolawyer.eth

https://x.com/WestlawToday/status/1843275088692416521?t=LLzQLgDTXy-9_kFAhQl0cQ&s=19

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

My response to a question Mark Cuban asked me on crypto. ⏬️ https://x.com/mcuban/status/1808609454545342589?t=EA1WKJCcpRQaY0xB8_KupQ&s=19

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

Node sales are increasing in popularity, but may they still be designated as an offer or sale of a security? In this blog, I explore the implications of Sophon Blockchain raising $60 million in fundraising from their node sale. https://jbcryptolaw.com/f/node-sales-are-becoming-popular-but-are-they-securities

1 reply

1 recast

4 reactions

JB pfp

@thecryptolawyer.eth

Hi everyone, I am pleased to share my second blog post now that final exams are over. In this blog, I discuss why I believe the SEC is likely to prevail against Robinhood for operating as an unregistered broker and clearing agency. https://jbcryptolaw.com/f/is-robinhood-crypto-an-unregistered-broker-or-clearing-agent

0 reply

2 recasts

5 reactions

JB pfp

@thecryptolawyer.eth

The SEC's gambit to subject self-custody wallet platforms through enforcement actions will lose because it doesn't have authority to support its case. If I were them, I would issue notice-and-comment rule making to expand the definition of "effectuate" to cover these platforms (although it is bad policy to do so).

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

Anyone know a good resource to understand the policy debate between attaching legal obligations to miners and validators vs. front-end software providers? Would love to learn more on why the front-end software providers seem to face the brunt of the stick but not so much the nodes.

0 reply

0 recast

1 reaction

JB pfp

@thecryptolawyer.eth

Excited to read this! 👀

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

Great meeting everyone at the happy hour!

0 reply

1 recast

1 reaction

JB pfp

@thecryptolawyer.eth

I think the enforcement action against Uniswap will illustrate the limitations of lawsuits against open source protocols. Liquidity can easily move to the next fork of Uniswap with even less control from any one group, like Uniswap Labs. The industry will adapt faster than litigation can proceed.

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

Hi everyone, I started my own blog where I explore legal issues and developments in blockchain technology. Check out my first blog on self-custody wallet platforms below! 👇 https://jbcryptolaw.com/f/most-self-custody-wallet-platforms-are-not-unregistered-brokers

3 replies

1 recast

9 reactions

JB pfp

@thecryptolawyer.eth

Coinbase's successful Motion for Judgement on the Pleadings in regards to Coinbase Wallet is a significant victory for DeFi and should not be missed. Find out why below 👇 https://twitter.com/JasonBerkun/status/1773031963076530674

0 reply

0 recast

1 reaction

JB pfp

@thecryptolawyer.eth

"In the early part of the pandemic, a surge in day trading by amateur investors helped turn cryptocurrencies into a hot commodity." Not to miss the irony, but even the NYT thinks that crypto is a commodity! (maybe) https://www.nytimes.com/2024/03/05/technology/bitcoin-price-record-high.html?smid=nytcore-android-share

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

Wow. @rebecca-r et al.'s paper on "Genuine DeFi as Critical Infrastructure" is a masterclass piece on the proper framework to regulate decentralized, open source software to comply with illicit finance laws. This should be a required reading for every policymaker in this industry.

1 reply

0 recast

2 reactions

JB pfp

@thecryptolawyer.eth

The anonymous and decentralized nature of blockchain domain names poses important and difficult questions for when a 3P registers in the name of a person or organization. Legal adaptation will be necessary to sustain lasting innovation https://www.jdsupra.com/legalnews/unauthorized-blockchain-domain-names-5919874/

0 reply

0 recast

0 reaction

JB pfp

@thecryptolawyer.eth

Great article on how obtaining patents for blockchain products can facilitate, rather than solely hinder, the objectives of open source software

0 reply

0 recast

1 reaction

JB pfp

@thecryptolawyer.eth

It was only a question of when, not if, there would be a decentralized social media platform, and finally, thanks to developers, builders and sponsors, it is emerging in its infancy

0 reply

0 recast

1 reaction