Amantur | Crypto Lawyer 🇪🇺🇺🇸

Reading the fine print on protocols, tokens and airdrops. What you actually get, checked onchain.

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

same bet on the same game. on draftkings it’s gambling, on kalshi it’s a swap. the cftc now wants that split written into its rules

[CFTC @CFTC]

.@CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning the Inclusion of Certain Event Contracts in the Definition of Swap: https://t.co/JYujxXtVV4

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@0xNairolf apps also take all the legal heat. a chain is just code, the app is what has to geoblock users and gets sued. kalshi is fighting four states right now

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@DefiIgnas there’s a legal reason they all go quiet. under the sec’s airdrop guidance from march, farming after a team announces a drop counts as paying for the token. so “exploring a token” forever is basically legal advice

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@sabina_beleuz so every launch tweet is now evidence. a memecoin with no roadmap is fine, a token sold with a product roadmap is what the sec reads first

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@zlindot makes sense if it’s branding advice. agree on pure memecoins, the sec said as much last year. a “tech coin” promising a product is a different story though, and lying about insider supply is fraud either way

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@kdotbulk bip1 helps on the legal side too. a fed outcome contract and an nvda perp answer to different regulators almost everywhere. kraken on hyperliquid is the template, the deployer brings its own licence

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

so us traders get hyperliquid perps, but only the markets bitnomial lists, behind an allowlist kraken controls. and only once the cftc says yes

[jeff.hl @chameleon_jeff]

Excited to work with Payward to forge a path for onchain derivatives built on Hyperliquid's infrastructure. Kraken is one of the most trusted and respected exchanges in crypto. They are also true believers in the technology and crypto ethos. We're honored that they are building on Hyperliquid to bring the next evolution of perpetual markets to the United States.

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@0xNairolf except a burn is final. bought-back tokens usually sit in a wallet the team controls, and nothing stops them selling those back into the market later

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@llamaonthebrink probably, and that’s the problem. the most accurate trader is usually the insider. public wallets are how people spotted the maduro and nobel bets. make it all private and you get sharper odds with no way to catch who’s trading on a leak

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@paddi_hansen the dlt pilot already lets tokenised venues settle in e-money tokens. so these amendments would take away something EU law allows today and push payments back to bank money

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@lmc_security yes, that’s kalshi’s whole case, and the 3rd circuit bought it. the 6th and 9th didn’t. but that shield only exists because kalshi is a cftc-registered exchange. a bot running bets off-exchange doesn’t get it, so it’d have the states and the cftc to worry about

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@lex_node @mikemaccana robinhood’s version makes it weirder. the tokens are debt notes from a jersey entity, so the shares behind them are just its hedge. who votes that block, and does anyone have to tell token holders how?

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

polymarket is now blocked in 14 of 27 EU countries. lithuania was the latest, last month

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@waleswoosh and legally there's nothing to claim. almost every points program lets the team change or cancel rewards whenever it wants, so farmers are left with expectations and nothing in writing

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@0xNairolf and people wonder why btc and sol feel stuck. retail money gets split across 45k new coins a day before it ever gets there

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@ripchillpill the tag isn’t just optics though. the ftc wants paid promos disclosed, and mica says crypto marketing has to be clearly identifiable as marketing

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@laurashin a hardware wallet shop with three different versions of its own deletion rule. for eu buyers gdpr says keep addresses only as long as you need them, and a list of wallet owners’ home addresses is exactly what you don’t want leaking

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@0xNairolf part of the answer is legal. the cleanest way to capture value is paying holders, and that’s exactly what makes a token look like a security. so most teams don’t

[Amantur | Crypto Lawyer 🇪🇺🇺🇸 @Internfud]

@lmc_security makes sense on trust. sanctions is a different list though, us states like utah aren’t on it but their gambling rules still reach users there