In today's episode, Ryan and David bring on Mike Selig to chat about everything need to know about crypto regulation. Mike is a crypto lawyer at Willkie Farr & Gallagher, former a regulator at the CFTC, and a frequent contributor to Coindesk about the state of crypto regulation.  Operation Chokepoint is in full effect. Tune in to understand everything you need to know.  ------  MetaMask Learn  https://bankless.cc/metamaskshow  ------  JOIN BANKLESS PREMIUM:  https://newsletter.banklesshq.com/subscribe  ------ BANKLESS SPONSOR TOOLS:  KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://bankless.cc/kraken  UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  ️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum   EARNIFI | CLAIM YOUR UNCLAIMED AIRDROPS https://bankless.cc/earnifi   ------ Timestamps: 0:00 Intro 6:18 2023 Regulation Playbook 7:15 SEC Charging Kraken 11:27 SEC Rolling Out Regulation 14:09 SEC Patronizing Approach 15:44 Wells Notice 19:45 Kaken Staking Crackdown 28:00 Driving Crypto Offshore 30:05 Staking Pools Next? 35:05 SEC Scoring Points 40:50 Paxos & BUSD 44:40 Circle 50:55 Banks Servicing the Crypto Industry 57:55 Net Effects 59:27 U.S. Crypto Regulation History 1:02:49 Why the U.S. Hates Crypto 1:06:26 Banks vs. Crypto 1:08:14 Will Crypto Survive? 1:10:25 Closing & Disclaimers ------ Resources: Regulation vs. Decentralization  https://www.coindesk.com/consensus-magazine/2022/12/23/2023-the-year-of-regulation-vs-decentralization/  Gensler Statement https://twitter.com/SquawkCNBC/status/1624041483241156608  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

A U.S court has ruled that XRP is not a security, and if XRP is a security then what implications does this have for other tokens? Joining us today is Paul Grewal and Mike Selig, both experts in their respective fields who are here to help walk us through the implications of this court decision and what it means for our industry as a whole. ------ 🚀 Join Ryan & David at Permissionless in September. Bankless Citizens get 30% off. 🚀 https://bankless.cc/GoToPermissionless  ------ BANKLESS SPONSOR TOOLS:  🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE ⁠https://k.xyz/bankless-pod-q2⁠    🦊METAMASK PORTFOLIO | TRACK & MANAGE YOUR WEB3 EVERYTHING https://bankless.cc/MetaMask  🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/Toku  ⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum⁠  🦄UNISWAP | ON-CHAIN MARKETPLACE ⁠https://bankless.cc/uniswap⁠  🛞MANTLE | MODULAR LAYER 2 NETWORK ⁠https://bankless.cc/Mantle⁠  ----- TIMESTAMPS:  0:00 Intro 4:18 Great Day to Be a Lawyer 7:47 Was This a Surprise? 9:27 TLDR on the Ripple Case 16:08 What is a Security? 20:18 How Binding is This Decision? 27:05 Establishing a Precedent 31:47 SEC's Argument Falling Apart? 38:28 Opening The Door to More Tokens 42:37 What Does This Mean for Token Holders? 47:57 How Does This Impact US Regulation? 53:29 The Fight Ahead ----- RESOURCES: Mike Selig https://twitter.com/MikeSeligEsq  Paul Grewal https://twitter.com/iampaulgrewal  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

In this engaging discussion, Mike Selig, a partner at Willkie Farr & Gallagher who specializes in crypto law, and Jake Chervinsky, Chief Legal Officer at Variant, share their insights on the impending regulatory changes under SEC Chair Paul Atkins. They explore the potential easing of aggressive enforcement strategies and how this might foster innovation in the crypto space. The duo also delves into the future of significant court cases, potential settlements, and the collaboration between the SEC and CFTC, highlighting a pivotal time for cryptocurrency regulation.