In this episode, crypto lawyers Kayvan Sadeghi and Sam Enzer delve into the SEC's lawsuit against Consensys, which focuses on MetaMask's swaps and staking services, and explore the implications of the SEC's stance on MetaMask acting as a broker-dealer, and the classification of its staking product as a security.  They discuss how recent rulings on Coinbase and Binance challenge the SEC's claims, and whether differing judicial opinions could lead to the Supreme Court.  Also, they talk about the potential impact of the Supreme Court striking down Chevron deference for crypto regulation. Show highlights: 00:00 Intro 01:22 The key claims in the SEC's lawsuit against Consensys and how they relate to MetaMask's swaps and staking services 03:42 How recent Coinbase and Binance rulings challenge the SEC's claims against Consensys 09:29 Whether differing judicial opinions on whether wallets with private keys act as brokers could end up being decided by the Supreme Court 12:55 How the SEC will substantiate its claims that MetaMask acts as a broker-dealer and that its staking product is a security in Texas legal briefings 17:42 Why a token itself is not considered a security, according to Sam, and how this distinction affects secondary market transactions in the SEC's case against MetaMask 22:14 What Lido and Rocket Pool can do in response to the SEC tangentially naming their liquid staking tokens as securities 31:27 How the SEC and Consensys lawsuits will proceed, and whether conflicting rulings could arise from their parallel tracks 36:35 The key distinctions in the Binance case compared to those of Coinbase and Kraken, and how the Binance ruling might impact future crypto cases 50:08 What Chevron deference means and how its removal impacts crypto 56:49 How the elimination of Chevron deference affects current crypto cases and legislative gridlock Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Guests: Kayvan Sadeghi, partner at Jenner & Block Sam Enzer, partner at Cahill Gordon & Reindel Previous episode of Unchained with Sam and Kayvan: SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case Learn more about your ad choices. Visit megaphone.fm/adchoices