The Breakdown Massive Expansion of Crypto Sanctions Power Snuck into Senate Budget Proposal
Jun 12, 2024
The podcast discusses the secretive expansion of anti-crypto powers in a Senate bill, similar to previous moves. Industry concerns arise over the bill's push to grant Treasury more authority to impose sanctions on digital asset facilitators. Other topics include Solana validators' removal, Uniswap Labs preparing for an SEC battle, and Bitfarms' efforts to fend off a takeover by Riot platforms.
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Expanded Crypto Sanctions
- A Senate budget proposal includes expanded crypto sanctions powers, causing industry concern.
- This expansion, borrowed from a previous bill, could impact various crypto actors, not just exchanges.
Solana Validators Removed
- Solana validators were removed from subsidy programs for exploiting MEV (maximal extractable value).
- They used private mempools to facilitate sandwich attacks on users, despite Solana's attempts to control MEV.
Uniswap's New Legal Hire
- Uniswap Labs hired Catherine Minarek, ex -Coinbase legal executive, as their new chief legal officer.
- This move is seen as preparation for a legal battle with the SEC regarding Uniswap's regulatory status.