Richard Jackson, the Deputy AG for Oklahoma specializing in Technology & Digital Assets, makes a compelling case for the constitutional right to own cryptocurrency. He delves into how the Bill of Rights supports this emerging economic freedom and discusses pivotal amendments such as the First and Fourth, highlighting the need for modern interpretations of privacy in the crypto age. Jackson emphasizes the importance of advocacy to protect individual rights in the face of government regulations and urges listeners to recognize the intersection of crypto and constitutional freedoms.
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Quick takeaways
Richard Jackson argues that the constitutional framework fundamentally supports a citizen's right to own and use crypto assets.
The podcast highlights how crypto transactions embody individual freedoms outlined in the Bill of Rights, advocating for economic autonomy and privacy.
Jackson draws parallels between crypto rights and the First and Second Amendments, framing digital privacy as essential for self-expression and defense.
Ninth and Tenth Amendments reinforce the existence of unenumerated rights to crypto, empowering states to implement supportive regulations.
Deep dives
Constitutional Right to Crypto
The episode argues that citizens of the United States possess a constitutional right to crypto, as outlined in the Bill of Rights. Legal expert Richard Jackson presents a convincing case that crypto extends fundamental rights enshrined in the Constitution, primarily focusing on individual freedoms. He emphasizes that crypto can be viewed as a modern iteration of these freedoms, enabling Americans to enjoy economic autonomy and privacy. Furthermore, he posits that if cryptocurrencies had existed during the 1700s, they would have likely been included explicitly in the Constitution.
Historical Significance of the Constitution
The discussion traces the historical context of the Constitution and the Bill of Rights, noting that these documents emerged during the Enlightenment Era, which emphasized the nature of government authority and individual freedoms. The founders combined ancient ideas from classical civilizations with their contemporary understanding of rights, resulting in a framework that secures individual liberties against government overreach. During the crafting of the Constitution, the founders aimed to limit central power while protecting personal freedoms. This foundational philosophy continues to inform the modern interpretation of rights in the digital age.
Rights Encompassing Crypto
Jackson articulates a comprehensive definition of the 'right to crypto,' encompassing three dimensions: the code that enables crypto transactions, the act of encrypting communications, and the ownership of digital property. He emphasizes that individuals have the right to engage in economic activities without unnecessary government interference. Crucially, he distinguishes legitimate uses of crypto from illicit activities, arguing that lawful engagement with cryptocurrencies should not be curtailed by draconian regulations. This broad definition positions crypto as a tool for preserving individual rights in an increasingly digital world.
The First Amendment's Role
The episode highlights the First Amendment's strong alignment with crypto rights, framing it as a right to express oneself and communicate ideas without government censorship. Jackson notes that the ability to encrypt communications is crucial for preserving the freedom of speech, allowing individuals to share information safely and anonymously. This extends to both digital conversations and transactions, where maintaining privacy is seen as fundamental to personal autonomy. Drawing on historical precedence, he argues that any attempt to restrict communication about crypto undermines foundational liberties guaranteed by the First Amendment.
Revisiting the Second Amendment
Delving into the Second Amendment, Jackson presents a nuanced view of the right to bear arms as a metaphor for the rights to own and use defensive technologies, including cryptography. He argues that encryption serves as a digital armor, protecting individuals from unlawful government intrusion and maintaining their right to secure personal information. This perspective helps frame crypto not just as a financial instrument but as a vital tool for self-defense against potential overreach by state actors. By drawing parallels to historical grievances about government oppression, Jackson reinforces the argument for crypto as a vital piece of modern freedom.
Implications of the Fourth Amendment
The Fourth Amendment's guarantees against unreasonable searches and seizures are critical to understanding the privacy implications of owning crypto. Jackson asserts that crypto ownership implies a right to privacy concerning one's financial transactions and personal information, echoing the need for clear legal standards in the digital world. As law enforcement increasingly employs surveillance tactics, the amendment affirms citizens' rights to protect their digital and physical property from unwarranted scrutiny. He emphasizes that encryption technology is essential for maintaining this protective barrier in the evolving landscape of personal privacy.
Fifth Amendment Protections
The Fifth Amendment's protection against self-incrimination has profound implications in the crypto context, particularly when it comes to legal proceedings. Jackson emphasizes that individuals cannot be compelled to disclose their private keys or decrypt their crypto holdings under duress, as this would violate their rights. Additionally, he discusses the importance of due process in the handling of digital assets to prevent wrongful confiscations by the government. By highlighting these legal protections, Jackson underscores the need for vigilance in safeguarding individual rights within the realm of cryptocurrency.
The Ninth and Tenth Amendments: Expanding Rights
The episode discusses the Ninth and Tenth Amendments as keys to expanding individual rights in the context of crypto. The Ninth Amendment asserts that unenumerated rights should not diminish those retained by the people, thereby supporting the notion that crypto rights exist even if not explicitly written in the Constitution. Meanwhile, the Tenth Amendment emphasizes that powers not delegated to the federal government are reserved for the states or the people, thereby allowing states to enact crypto-friendly policies. This framework creates space for broader acceptance and protection of crypto rights across different jurisdictions.
We brought the perfect guest that walks us through the Constitution and the Bill of Rights in order to make the case for our already existent constitutional right to Crypto.
Richard is the Deputy AG for the State of Oklahoma for Technology & Digital Assets. He’s an economist at heart, turned legal and crypto native, working to make Oklahoma the most crypto friendly state in the union.
0:00 Intro 7:47 Constitution 101 11:08 The Bill of Rights 16:51 The Right to Crypto 30:23 1st Amendment 42:29 2nd Amendment 50:29 4th Amendment 1:02:20 5th Amendment 1:11:54 3rd Amendment 1:18:51 9th & 10th Amendment 1:27:00 6th, 7th & 8th Amendment 1:30:12 How to Secure Our Rights 1:37:18 Why Fight in the US 1:43:16 The Oklahoma Case 1:46:18 Closing & Disclaimers
