Two lawyers, Josh Klayman, head of digital assets at Linklaters, and Marc Boiron, chief legal officer at Polygon Labs, offer their takes on the SEC’s recent crypto crackdown. They share what they heard from SEC Chair Gary Gensler’s Congressional testimony, whether this crackdown was inevitable or sparked by FTX, and why a proposed change to the definition of an exchange could be an existential threat for DeFi in the U.S.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.

Show highlights:

  • what Gary Gensler’s approach to crypto was when he took office
  • whether the FTX collapse had any impact at all on the SEC’s recent actions
  • whether the actions against Coinbase are “inappropriate”
  • what the differences between Coinbase and Kraken staking services are
  • why the concept of “exemptive relief” is important for exchanges
  • whether the SEC is looking to go after AMM-based decentralized exchanges
  • why SEC Commissioner Hester Peirce says that complying with a new proposal wouldn’t be possible for much of DeFi
  • why, according to Marc, the industry should be “pushing very hard” against the newly proposed definition of an exchange
  • whether the SEC’s ability to pursue enforcement actions against ETH is diminished by the statements of the previous SEC chair

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Previous coverage of Unchained on the SEC’s actions: 


Read the episode transcript here