Dan Berkovitz, a former CFTC commissioner and SEC general counsel, teams up with Colin Lloyd, a partner at Sullivan & Cromwell, to dive into the heated debate over Ethereum's classification as a security or commodity. They discuss the implications of potential regulatory decisions and the challenges of overseeing rapidly evolving decentralized finance (DeFi) technologies. The duo emphasizes the importance of accountability in the DeFi space and suggests that legal frameworks must adapt to keep pace with innovation and protect investors.