Larry Florio, a seasoned crypto lawyer and general counsel at 1kx, discusses the implications of recent settlements with the CFTC and SEC involving Uniswap Labs and Galois Capital. He raises concerns about these precedents possibly pushing regulators to adopt more aggressive enforcement. The conversation dives into the SEC’s unclear directives around qualified custodians, potential bans on crypto funds, and issues of preferential treatment in fund management. Tune in for insights on the evolving regulatory landscape and its challenges for the crypto industry.

Larry Florio, general counsel at 1kx, navigates the choppy waters of recent crypto regulations. He discusses how the SEC's actions against Galois Capital signal a potential crackdown on the industry, highlighting frustrations around compliance with conflicting rules. The conversation dives into the implications of defining qualified custodians and the challenges asset managers face amid ambiguous regulations. Florio emphasizes the need for clearer guidelines as the SEC's approach risks pushing crypto funds towards untenable positions.