Law & Policy

/law-policy1761

A space to discuss Blockchain, Crypto, and Web3 Law & Policy

Had the privilege of connecting earlier today with @noahspaulding, the GC @eco — thrilled to have Noah in /law-policy. Thanks @geenty for the intro!

cc: @gus
I think AI founders and investors can learn important lessons (what to do/not to do) from the last 10 years of the crypto regulatory wars.

Agree? What do you think are the key lessons?

Will share more as I flesh out.
🧠 Newsletter 🧠 This week I wrote about Custodia’s new Avit stablecoin model and what it might mean for the future of the sector. I think it’s really interesting to treat stables as band deposits. Also, some color on the failed senate cloture vote for GENIUS. Check it out and subscribe! https://open.substack.com/pub/broganlaw/p/bank-deposits-are-worth-more-than?r=487bq2&utm_medium=ios
Last week in crypto regulation (May 5 – 11):

1/ OCC Green-lights Bank Crypto Ops
Federal Interpretive Letter 1184 lets national banks & FSAs custody, lend and settle crypto.
https://www.occ.gov/topics/charters-and-licensing/interpretations-and-actions/2025/int1184.pdf
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/f47fa75c-d2da-4695-f57a-481a4fb9ef00/original
Super excited and long overdue to share that my legal note on "Why Self-Custody Wallet Platforms Are Not Brokers Under the Securities Exchange Act of 1934" has been published in the online edition of the GW Law Business & Finance Law Review.

https://gwbflr.org/why-self-custody-wallet-platforms-are-not-brokers-under-the-securities-exchange-act-of-1934/
Felt compelled to amplify Justin's analysis in this illustrious channel.
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CFPB withdraws 67 guidance docs — policy statements, interpretive rules, and advisory opinions. Most, tho not all, date from the prior administration.
https://public-inspection.federalregister.gov/2025-08286.pdf
Appreciate @blockchainassn and @salahghazzal showing the blog love on X — stablecoins are a massive advantage for the US, if it wants it.

https://x.com/salahghazzal/status/1920562615584993752?s=46
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Morgan Stone
@morganstone·21:25 08/05/2025
Working on another big role for my father's law firm: Director of Operations in Atlanta, GA.

JD attached, reach out if you or someone you know is a fit. My recommendations will get through the door quicker than any application you could send.
👀

The SEC’s Crypto Task Force, informed by a February request for comment,[2] is considering a potential exemptive order that would allow firms to use DLT to issue, trade, and settle securities.' https://www.sec.gov/newsroom/speeches-statements/peirce-iismgd-050825
I’ll be at Consensus in Toronto next week with some others from my firm, and would be great to see as many law casters as possible while I’m there. Shoot me a message if you’re going and I’d love to try to meet up.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/b080586c-980d-4598-8fc3-22c91a60b100/original
Isn't this precisely what the ant-CBDC crowd was afraid of? Why are so many of those folks silent now? I feel like I'm losing my mind! https://www.washingtonpost.com/business/2025/05/07/doge-government-data-immigration-social-security/
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Morgan Stone
@morganstone·02:32 08/05/2025
Been away from FC for a bit, but back with some insane opportunities.

I'm helping my father’s law firm with a major national hiring effort.

Civil litigation + insurance defense, Fortune 500 clients, expanding across key markets.

We are currently hiring for the attached positions (tons of remote options).

If you’re even remotely open to a conversation — or know someone great — please reach out.

🔴 My referrals will be given extreme priority in the review process.

Reposts appreciated.
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Eric Preston
@preston·01:26 07/05/2025
looks like Illinois lawmakers are seriously considering a new law similar to the New York BitLicense - the Illinois Digital Assets and Consumer Protection Act (DACPA)

despite some good intentions, these issues are likely better handled via federal regulation, and DACPA could lead to companies leaving Chicago/IL
FinCEN told the DOJ they didn’t think samouri wallet was a money transmitter.
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/16aece15-ad74-4898-78a7-8704f896c900/original
Are any other lawcasters going to be in Toronto next week for Blockchain Futurist or Consensus? Would be great to connect.
Last week in crypto regulation (Apr 28 – May 4):
https://imagedelivery.net/BXluQx4ige9GuW0Ia56BHw/1474a550-69b0-4fdc-165a-da50c5877000/original
Great to meet so many of you this week in New York! In the newsletter this week, I discuss Ripple’s potential acquisition of Circle as well as Ruben Gallego’s abrupt about-face on GENIUS. What is really going on there anyway? If you enjoy, subscribe! https://open.substack.com/pub/broganlaw/p/someone-doesnt-like-the-genius-act?utm_source=app-post-stats-page&r=487bq2&utm_medium=ios
Every time I see a post about sovereignty my immediate reaction is “what lawsuit or new government action or policy-related news clip did I miss?!” …Then I realize most people are talking about a horse.