Law of Code

#81 - Regulators and Crypto with Michael Selig

Feb 16, 2023
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ANECDOTE

Early Bitcoin Discovery Spurs Legal Career

  • Michael Selig discovered Bitcoin around 2011 and dove deep into cryptography and Bitcoin literature.
  • He later wrote a law review note in law school that hooked him on building a legal career in crypto regulation.
INSIGHT

Ethereum Reframed Blockchain Potential

  • The Ethereum white paper reframed blockchains as programmable platforms for financial markets.
  • Selig saw tokenized derivatives, DAOs, and securities on-chain as core transformative use cases.
ADVICE

Engage Regulators Thoughtfully

  • Engage with regulators to educate them even if they seem hostile; regulators control approvals and enforcement.
  • Read the room and pick appropriate engagement channels, including industry groups and receptive staffers.
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