Peter Van Valkenburgh, Director of Research at Coin Center, dives into the SEC's proposed rules that threaten the free-speech rights of crypto developers. He explains how redefining 'exchange' could stifle innovation and examines the possible chilling effect on software publication. Peter discusses historical precedents protecting developers’ rights and the community's need for a legal response. Ultimately, he suggests that coding software is a form of free speech, raising urgent questions about the implications for decentralized finance.
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insights INSIGHT
SEC Rulemaking's Impact on Software Developers
The SEC's proposed rulemaking redefines "exchange" broadly, impacting software developers.
Publishing software that facilitates securities trading may require registration, raising free speech concerns.
insights INSIGHT
Targeting Crypto and DeFi Implicitly
The SEC's proposal omits explicit mention of crypto, DeFi, or software, despite potentially affecting them.
This discrepancy between the broad wording and the narrow economic analysis raises questions about the SEC's intent.
question_answer ANECDOTE
IMS Health v. Sorrell Precedent
The IMS Health v. Sorrell case involved pharmaceutical data brokers and restrictions on data sales.
The Supreme Court ruled that banning such sales violated free speech, even for commercial purposes.
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Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze
Laura Shin
The Cryptopians delves into the story of idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. The book focuses on the founding of Ethereum by Vitalik Buterin and the subsequent crypto fever it created. It introduces readers to larger-than-life characters such as Buterin, Charles Hoskinson, and Joe Lubin, highlighting the personal and professional conflicts that shaped the early days of Ethereum. The narrative explores the booms, busts, and internecine wars within the crypto world, revealing it as a deeply personal struggle to influence the coming revolution in money, culture, and power.
Peter Van Valkenburgh, director of research at Coin Center, discusses a proposed rule by the US Securities and Exchange Commission that has massive implications for the free-speech rights of crypto software developers in the US. Show highlights:
why an SEC proposal changing the definition of “exchange” could violate the right to free speech of US crypto developers
whether the SEC is going after DeFi on purpose – as its 200+ page proposal never mentions crypto or DeFi
what precedent Peter has found that should prohibit the SEC from taking away software developers’ right to free speech
how Peter and Coin Center structured their recent letter of comment to the SEC
what the next steps (such as a lawsuit?) should be for the crypto community if the rule goes into effect
why writing software is part of someone's right to free speech
what implications the proposed rule could have on AMMs
what happens next: when could the rule be put into place?
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Find out information on the three openings at Unchained and how to apply here:
On April 26th, I will be selling NFT tickets to five 90-minute virtual book clubs in which 22 people can discuss "The Cryptopians" with me and with each other — without worrying about spoilers! Two of the book clubs will also feature special guests.
The sale will go live on Tuesday, April 26, at 1pm ET/10am PT, and tickets will be $100 each. (The sale will be on Bitski, but the NFTs will not be visible until the sale goes live on the 26th): https://www.bitski.com/@laurashin/created
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