The Owl Explains Hootenanny

[in Vietnamese] Ms. Nguyen Thi Ngoc Dung (Vietnam’s National Innovation Center) discusses how to foster Web3 growth, support businesses, and leverage blockchain for banking, logistics, and smart cities in Vietnam. English transcript available in owlexplains.com 

Join renowned author David Birch in this express podcast, as he unpacks the rise of stablecoins, their transformative impact on global finance, and what they mean for the future of money. From geopolitics to financial inclusion, Birch offers sharp insights into how stablecoins are shaping the digital currency landscape and how they're more than "just digital dollars."

Stephen Buttolph (Chief Protocol Architect at Ava Labs) discusses how Avalanche's blockchain can be used for tokenization of real-world assets. The podcast also explains the Avalanche consensus protocol and how this protocol is an important differentiator between Avalanche and other blockchains.Learn more: https://www.avax.network/

Professor Ciamac Moallemi (Columbia University) dissects Maximal Extractable Value (MEV), Loss-Versus-Rebalancing (LVR) and associated mitigation methods. To provide more background, MEV is the economic value that can be extracted from blockchain users through arbitrage activity. Of particular note, arbitrageurs can extract value from liquidity providers at Decentralized Exchanges (DEXs) where these losses are known as Loss-Versus-Rebalancing (LVR). After explaining both MEV and LVR, this podcast focuses on mitigation methods including expedited block times and auction mechanisms intended to extract MEV.Paper: Automated Market Making and Arbitrage Profits in the Presence of Fees

Mallesh Pai (Rice University) covers DEX Aggregators and Solvers. In more detail, DEXs are not isolated entities. Rather, a variety of "intents markets" have arisen (e.g., Uniswap X, CoW Swap) where users can express "intents" to trade and then these markets execute the intents by relying on DEX liquidity and also potentially other sources of liquidity (e.g., fillers). Intents markets are generally classified as aggregators or solvers, and this podcast explains the space of intent markets, clarifying the distinction between aggregators and solvers. The podcast particularly focuses on economic implications of intents markets. An important point is that assertions that these markets are likely to entail favorable outcomes for traders are not necessarily correct due to the underlying economic structure.Paper: An Analysis of Intent-Based Markets

Professor Fabian Schär (University of Basel) discusses the ability for blockchain users to attain privacy in their transactions while also remaining compliant with regulations. Of note, prominent blockchains do not provide anonymity as commonly believed; rather, forensic methods can be used to reveal the transaction behavior of users. Mixers (e.g., Tornado Cash) combat forensic methods and offer further privacy. Nonetheless, mixers have come under regulatory pressure because they can be used for illegal activities such as money laundering. This podcast explains why blockchain identities are not anonymous and the details surrounding mixers. The podcast then explains a method whereby a user employing a mixer could prove that they have not participated in money laundering, potentially achieving both privacy and regulatory compliance. Regulatory implications are discussed.Paper: Blockchain Privacy and Regulatory Compliance

Professor Campbell Harvey (Duke University) and Professor Joel Hasbrouck (NYU Stern) explain the novel risks for traders who trade at Decentralized Exchanges (DEXs) and why standard regulatory approaches are not well-suited for addressing those risks. The podcast then discusses the feasible paths for regulation weighing the relative advantages and disadvantages. An important point is that regulators are not necessarily properly aware of the challenges of regulation in the blockchain context and, as a consequence, some regulatory actions being taken might be counter-productive.Paper: The Evolution of Decentralized Exchange: Risks, Benefits, and Oversight

Congressman Warren Davidson (R-OH-08) shares insights on token classification, self-custody, and bipartisan blockchain policy. Tune in for a candid conversation about crypto innovation and legislative reform in the United States.

Geek out on distinct legal issues with tax, anti-money laundering (AML) and litigation panel experts to review and explore key concepts affecting blockchain and crypto businesses. Take a deep dive on the Organization for Economic Cooperation and Development (OECD) tax framework, the Financial Action Task Force's (FATF) latest for Virtual Asset Service Providers (VASPs), asset management and funds, and explore global trends in civil litigation and bankruptcy.

Without a comprehensive legal framework in the region, the complexities of Argentina's crypto regulations are nuanced. Get briefed on the current policies shaping the industry, understand implications for the crypto sector in Latin America, and discover how legal frameworks are influencing the future of fintech and crypto in the region.