In this insightful discussion, Josh Klayman, head of digital assets at Linklaters, and Marc Boiron, chief legal officer at Polygon Labs, analyze the SEC’s aggressive stance towards cryptocurrency. They dive into Gary Gensler's congressional testimony and debate whether recent actions stemmed from the FTX collapse. The duo discusses the potential existential threat posed by the SEC's proposed exchange definition changes to DeFi, the complexities of regulatory compliance for platforms like Coinbase, and the nuances of Ether's security classification in the current legal landscape.