Bimoo

Loved writing this with @atuminelli

Today is the 1 week anniversary of @blockchainassn filing its first lawsuit against the SEC - challenging the dealer rule. It's unfortunate that it's come to this, but we're excited to defend our members and the industry alongside our co-plaintiff, the Crypto Freedom Alliance of Texas.
https://t.co/JnWZcKVXzO

1/ My takes on the recent order in SEC v. Coinbase 👇

#1 - HUGE win for DeFi. The court dismissed the SEC's claim alleging Coinbase Wallet functions as an unregistered broker. Drastic SEC overreach. This is great for devs and those working on peer-to-peer tech.

🧵

Happy new moon in Pisces (my favorite) - what are your intentions? 🌑✨💫

Themes:
- dreaming
- pleasure
- spirituality
- the natural world

I think these two SEC commissioners may have a future in screenwriting. Painting a painfully accurate picture of the experience of an entrepreneur in this space.

🙏 Commissioners Uyeda & Peirce

https://www.sec.gov/news/statement/peirce-uyeda-statement-a-crypto-world-turns-03-06-24

Filed an amicus today with @fund-defi in support of Kraken's motion to dismiss.
Here's the breakdown:
https://warpcast.com/mtcoppel/0x5d5a2c7e

1/ Today, @blockchainassn and @fund-defi filed an amicus brief in support of @krakenfx's fight against the SEC.

The case is yet another overreach of authority in the SEC’s long campaign to force most digital assets into its jurisdiction. 🧵

https://tinyurl.com/yr2txmnb

BIG NEWS: Today, a crypto market participant sued the SEC proactively for the 1st time. This is huge. All plaintiffs ask for is clarity - it shouldn't be this hard.

https://storage.courtlistener.com/recap/gov.uscourts.txnd.386710/gov.uscourts.txnd.386710.1.0.pdf

Happy new moon everyone 🌑

What are some of your intentions for this next cycle?

Themes of the cycle:
- caring for what we’ve planted for the future
- breaking norms
- fluidity and adaptability
- relishing in daily joys
- courage

Nickname: muffin

I signed up for this meditation retreat at the end of April in Virginia. Thought I’d post here just in case anyone is interested! https://imcw.org/event/?eventId=1477

Will be my first silent retreat (not at my house haha)!

So yesterday, the SEC finalized the "dealer" rule. Below are my preliminary thoughts about what this means. Tl;dr - LPs, DEXs, RIAs, Prop Trading Firms may all be impacted. The SEC created yet another amorphous "facts and circumstances" test.

https://www.sec.gov/files/rules/final/2024/34-99477.pdf

Discovering that my new scrolling habit is the /dogs channel here. One of the many ways Farcaster > Twitter/X. 🐕🐕🐕

Listened this morning - SO great!!

Thoughtful paper that begins a needed conversation re: illicit finance. Our current laws depend on the existence of an intermediary. But systems that don’t depend on intermediaries fundamentally cannot be regulated in the same way.

Thanks to @rebecca-r!

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4607332

I love this so much

I’m sorry, but the traditional corporate form is not clean in this regard. Of course there are benefits, but we need a more egalitarian alternative. Pieces such as this one only spark fear for nascent tech that has so much potential.

https://www.wired.com/story/a-dangerous-new-home-for-online-extremism/

Fall fruit of the mycelium in Shenandoah National Park

Over 25,000 comments have been received by the IRS regarding their broker rulemaking proposal. And over 12,000 have been posted to regulations.gov. Clearly a sign something is wrong with it. 🤔

https://www.regulations.gov/document/IRS-2023-0041-0001/comment

Going camping this weekend and my dog Tabor has really taken a liking to his new sleeping bag.

The recent IRS proposal changes the definition of "broker" under the tax code. This is an existential threat to DeFi - would require software developers to collect users' personal info and conduct info reporting (e.g., furnish 1099s). Below are links that make it easy to have your voice heard by submitting a comment.

I make these weird watercolor collages and never know what the message will be until the end.

Let the witchiest season begin

The most effective action we can take to fight our separateness is to create more love in our collective consciousness.