9th Cir. in #Payne finds no Fifth Amendment violation when compelling defendant to unlock phone using his fingerprint; compelled use of a biometric to unlock phone was not testimonial. Don't be lazy- use #passwords not #biometrics ! paging Prof. @OrinKerr https://t.co/33NcA3hLZx
This sliver of an epic thread by @ohaiom (srlsy, go read it now!) raises an important and subtle point that lawmakers, policymakers & lawyers often get wrong. "Coding" an asset to have features of equity securties does not make them equity securities. Why? read on /1
Cryptolaw is great if you like reading tea leaves, being wrong all the time, crippling anxiety, and inexplicably having to form strongly held opinions on guild law applied to blacksmiths in the 14th century
BREAKING: Trump will be announcing a ban on sneaker trading venues until they register as national securities exchanges. The speculative investment markets for trading vintage kicks is rife with fraud and chicanery and needs to be brought under control. H/t @JohnReedStark
This is true, actually. It’s weird in a great way. My biggest theoretical “competitors” are friends, whom I unabashedly recommend to people, including prospective clients. They’re great lawyers! And I want to make sure folks in the space are well represented.
This is an amazing initiative, and I'm looking forward to seeing what Rodrigo @RSSH273, @brendanpmalone, and their participants can do. (And, happy to participate if you'll have me!)
1/ 📣Exciting news! The Value Prop has taken its 1st step in “putting a face” on some amazing work in the blockchain ecosystem with #testimonials feat. the builders & devs creating apps showing the value of this tech.
Find the first 3 videos @ https://t.co/gxsAjyJpld
I'm honored to be speaking at #Mainnet2023. Save the date - Sept 20-22 - and join me in NYC for this incredible agenda. I look forward to diving deep into the some of the burning legal and policy issues. https://t.co/d3q2APt89F #Mainnet2023 @messarimainnet @messaricrypto
Yes, and also significantly, the court found that the tokens do not somehow “embody” the qualities of the fundraising scheme in which the tokens were issued. This is a big deal.
Important nuance from the Ripple case:
Torres' conclusion is XRP, as a digital token, is not in and of itself an *investment contract*. An investment contract requires the presence of exogenous factors; it therefore makes sense that tokens themselves cannot be investment contracts.
The court *did not say*, as a blanket statement, that tokens are not securities. It is entirely possible that other tokens *are* themselves securities under other theories.
My instinct turned out to be right, at least at the first court conference. The (very experienced & thoughtful) judge seemed skeptical of the notion that the SEC allowed the Coinbase S1 to go effective without mentioning that SEC thought the whole business model was illegal.
1/ So excited!! Sen. Cynthia Lummis just announced on Squawkbox that a revised version of the Lummis-Gillibrand Responsible Financial Innovation Act is being introduced in the Senate today. This is BIG NEWS.
Struggling to understand how the US securities laws should be applied when crypto assets are traded between persons unrelated to the initial seller(s)? This Spaces, hosted by @DigitalChamber with my friend @JohnEDeaton1 and special guests, is for you!
https://t.co/7uiCb1GW1h
The 👇 article is very relevant to a discussion that @NYcryptolawyer and I will be having tomorrow. Details will be announced later today. Lewis is the author of the most important and relevant article on the subject:
Five years before Nikki Haley was born, it was illegal in South Carolina for someone with Haley’s skin color to marry someone with her husband’s skin color.
Was that the simpler time? Did that feel “easy”? For whom? Was that “about family”?
don't think he's on twitter but I have to shout out Coy Garrison, formerly Counsel to @HesterPeirce and now a partner at Steptoe, as the true star of today's hearing on HFSC hearing on the proposed crypto market structure bill
every answer on point