Kristin Smith, Executive Director of the Blockchain Association, comes to talk about Tornado Cash, the lawsuit against Ooki DAO, the SEC charges against Kim Kardashian, and crypto legislation. 

 

Show highlights:

• whether regulators did not understand the implications of sanctioning smart contracts
• the necessity of having a conversation around financial privacy
• whether the government wants sanctions compliance at the base layer
• the reasons behind the CFTC lawsuit against Ooki DAO 
• why the SEC settled charges with Kim Kardashian and whether it was a publicity stunt
• the chances of the different crypto bills becoming law
• why Kristin thinks stablecoin legislation won’t come this year
• whether the CFTC being the main regulator of crypto settles the question of crypto being securities or commodities

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Crypto.com

 

Kristin

Twitter 

 

 

The lawsuit against Ooki DAO

• Previous coverage of Unchained on Ooki DAO: Why the Ooki DAO Case Could Hurt Participation in DAOs
• CFTC Filing
• $250,000 fine
• CoinDesk’s Nik De’s analysis
• CFTC Commissioner Summer Mersinger’s dissenting statement
• Jake Chervinsky’s opinion
• Ooki DAO’s options
• CFTC serving the members of the Ooki DAO via their forum
• Tim Copeland’s article on what’s next for DAOs

• A federal court ruled that the CFTC legally served Ooki DAO through a website help bot.
• The LeXpunK Army filed a motion for amicus status in the SEC case against bZx/Ooki DAO.
• Crypto group DeFi Education Fund argued that the CFTC should properly serve Ooki DAO’s actual members, not just the DAO at large.

 

Tornado Cash

• Treasury Press release 
• 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

 

Legislation

• Digital Commodities Consumer Protection Act of 2022
• lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52020PC0593"> Europe’s MiCa bill
• Previous coverage of Unchained on legislation:

 

• • Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto

• • Congressman Ro Khanna: How to Get More Democrats into Web3

• • Why the Crypto Industry Believes SEC Regulation by Enforcement Hurts US Consumers

 

 

SEC charges against Kim Kardashian

• The SEC fined reality TV star Kim Kardashian $1.26 million for promoting a crypto security without proper disclosure.
• Fortune article: The SEC’s Kardashian fine was a dumb publicity stunt

 

Stablecoins

• Stablecoin Draft Bill
• Bloomberg article: Senator Pat Toomey Still Sees Chance of Stablecoin Legislation This Year