Bankless

What's the Point of Securities Laws? with Mike Selig

Jan 5, 2023

Mike Selig, a crypto lawyer and former CFTC regulator, dives into the intricacies of securities laws as they relate to cryptocurrency. He discusses what defines 'investment contracts' and why clarity is essential for compliance. The conversation also explores the challenges of navigating regulations in an evolving crypto landscape, the tension between SEC and CFTC approaches, and how decentralization is influencing regulatory frameworks. Selig shares insights on the future of regulation and the need for tailored solutions in this rapidly changing industry.

01:06:26

Creator website

Episode guests

Mike Selig

Highlights

AI Chapters

Episode notes

Ether: A Security or Commodity?

00:45

Crypto Assets - Investment Contract Definition

04:47

The Benefits of Decentralization

01:31

Intro

6min

Understanding Securities Laws in the Crypto Context

3min

The Interplay Between Security-Like Properties and Investment Assets

2min

Navigating Securities Laws in Crypto

23min

Navigating the Complex Landscape of Crypto Regulation

4min

Navigating Crypto Regulation: SEC and CFTC Dynamics

24min

Decentralization vs. Regulatory Scrutiny in Crypto

4min

Yesterday, on the show we had lawyer Brian Frye, who gave us novel takes securities. You can find that episode here: https://youtu.be/jo1ZuhuCVZE

In today's episode, David continues down the securities rabbit hole with special guest Mike Selig. Mike is a crypto lawyer at Willkie Farr & Gallagher, former a regulator at the CFTC and a frequent contributor to Coindesk about the state of crypto regulation.

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------ Topics Covered:

0:00 Intro 5:35 Mike's Background 6:55 Why Securities 10:20 Investing Contract 13:00 Where's the Line? 20:11 Asset vs. Schemes 24:38 SEC Regulation 29:00 NFTs as Membership 36:48 2023 Regulation 42:51 SEC vs. CFTC 47:25 The Solution to Security Laws 50:40 Centralization 55:10 Current SEC Administration 1:01:30 Decentralization Theatre 1:04:50 Closing & Disclaimers

------ Recources:

Mike Selig https://mobile.twitter.com/mikeseligesq

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures

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