Lee Reiners

FinReg scholar & Teacher. Co-organizer of Digital Assets at Duke🎙 Co-Host of Coffee & Crypto with Lee & Jimmie. MOOC Coursera professor - FinTech Law & Policy

[Lee Reiners @leereiners]

Did a deep dive into perpetual futures & @CFTC's recent decision to allow @Kalshi & @coinbase to list BTC perps w/ @jimmie_lenz on the latest Coffee & Crypto: https://t.co/aG9kLCIm7q

[Lee Reiners @leereiners]

I guess a GSE IPO isn't happening anytime soon...

[Brendan Pedersen @BrendanPedersen]

**FHFA’s PULTE TO SERVE AS ACTING DNI: TRUMP

[Lee Reiners @leereiners]

Discussed regulatory capture at the CFTC, the BIS's project to improve cross-border payments, Europe's dithering over dollarization, Prometheum's efforts to distribute tokenized securities through broker-dealers, & SoFi's new stablecoin w/ @jimmie_lenz: https://t.co/9Rnx1MnKBL

[Lee Reiners @leereiners]

And yet Congress is on the verge of passing a crypto bill, not an AI bill.

[Martin Chorzempa 马永哲 @ChorzempaMartin]

Bitcoin whitepaper from 2008 has had nearly 18 years to change our world with blockchain. So much less impact than hyped.

Transformer paper from 2017 has had half that, 9 years, to change our world with modern AI.

One key reason is that blockchain systems face more governance challenges with thorny trade-offs: for example bitcoin network handling more transactions is held back over concerns that would centralize power. AI or the internet by contrast had to overcome technical problems where more computing power and algorithmic breakthroughs unlock new capabilities.

I am still focused on both digital currency and AI, but I am allocating most of my time to the latter as far more transformative.

[Lee Reiners @leereiners]

Discussed @DonaldTrump's Executive Order on FinTech, the Fed’s proposed Payment Account, new data on crypto usage, the SEC’s planned tokenization exemption, & SEC Commissioner @HesterPeirce’s pending departure on the latest Coffee & Crypto w/ @jimmie_lenz: https://t.co/YrwkblAR8c

[Lee Reiners @leereiners]

Crypto firms want OCC trust bank charters because they offer many of the benefits of banking status w/out much regulation. My latest explains why this matters & how this week’s Trump EO & Fed payment account proposal will integrate crypto into banking: https://t.co/5hqxQTKt9r

[Jimmie Lenz @jimmie_lenz]

Clarity is moving ahead, I certainly hope everyone understands what this does and does not mean for financial services firms of all kinds. @leereiners and I break it down on this week’s Coffee&Crypto with @Lee_and_Jimmie

[Lee Reiners @leereiners]

Discussed Clarity Act's passage out of Senate Banking Committee, tokenized repo, @The_DTCC's tokenization service, @SECPaulSAtkins' views on on-chain markets, & @coinbase partnering w/ @HyperliquidX. Plus an update from @ncino's conference w/ @jimmie_lenz: https://t.co/kfAuaH05ma

[Lee Reiners @leereiners]

FTX did not flee “regulatory uncertainty.” It fled the SEC. Ahead of tomorrow’s Senate Banking markup, my latest explains why the Bahamas already had crypto “regulatory clarity” & why current market structure legislation risks repeating the same mistake: https://t.co/MZfasFTLzD

[Lee Reiners @leereiners]

Covered the failure of a crypto custodian with ties to @DAatDuke, the potential return of @SenSherrodBrown to the U.S. Senate, what’s next for the crypto market structure bill, & the potential for NFTs to prove identity in agentic payments w/ @jimmie_lenz: https://t.co/I8dmsjcJaM

[Lee Reiners @leereiners]

My latest argues that @worldlibertyfi’s $WLFI
token is an unregistered security, even under the SEC’s new guidance. The SEC has the authority to investigate, but do they have the integrity to probe a venture in which the President has a financial stake? https://t.co/5QHum5LCWE

[Lee Reiners @leereiners]

I have a new paper out w/ @Miercoles_Hays from @RealBankReform on the @CEA47 's flawed stablecoin report & the problems w/ the compromise text on third-party stablecoin "rewards" from @SenThomTillis & @alsobrooks. Community banks are in serious trouble: https://t.co/HKCyNKZt23

[Lee Reiners @leereiners]

Discussed Senate compromise on stablecoin rewards, whether stablecoin issuers should freeze wallets tied to illicit activity, @SECGov exempting DeFi front-ends from broker-dealer registration & the many problems w/ prediction markets w/ @jimmie_lenz: https://t.co/hIomkR2S4W

[Lee Reiners @leereiners]

Covered the latest North Korean DeFi hack, @justinsuntron suing @worldlibertyfi, findings from @coinbase's quantum advisory council, analysis on community bank crypto-related deposit outflow & @CharlesSchwab getting into crypto w/ @jimmie_lenz: https://t.co/aAJXxVntOJ

[Lee Reiners @leereiners]

Covered recent shenanigans with @worldlibertyfi, the Drift protocol hack, extortion at @krakenfx, the FBI’s most recent internet crime report, & new crypto ETF offerings from @MorganStanley & @GoldmanSachs on the latest Coffee & Crypto w/ @jimmie_lenz: https://t.co/hEq6DEwRYm

[Lee Reiners @leereiners]

Discussed @JohnCarreyrou's NYT piece identifying Adam Back as Satoshi, Iran's use of crypto, Trump accounts, new White House analysis on stablecoin deposit flight, & Franklin Templeton's new crypto unit w/ @jimmie_lenz on the latest Coffee & Crypto: https://t.co/AoFd7fkRb7

[Lee Reiners @leereiners]

Crypto’s killer use case - literally

[Ahmed Al Omran @ahmed]

🚨 FT scoop: Iran demands $1 per barrel of oil passing through Strait of Hormuz, wants to be paid in cryptocurrency

[Lee Reiners @leereiners]

On the latest Coffee & Crypto, @jimmie_lenz & I broke down crypto vaults & related regulatory issues, the @USDOL's proposed rule to open 401(K)s to alternative assets, & @tether's pending audit from @KPMG. Give it a listen! https://t.co/8lajcBEeBx

[Lee Reiners @leereiners]

Discussed a @BIS_org paper on why blockchains are structurally fragmented, new mandate from the @ethereumfndn, the @ecb's tokenization roadmap, a @coinbase crypto-backed GSE conforming mortgage, & Larry Fink’s annual letter to shareholders w/ @jimmie_lenz: https://t.co/JAubdTZgjl

[Lee Reiners @leereiners]

Between going on podcasts and speaking at crypto conferences, I’m not sure how regulators have time to, you know, regulate…

[Anthony Pompliano 🌪 @APompliano]

I spoke with CFTC Chairman @MichaelSelig about artificial intelligence, prediction markets, and crypto.

He is a pro-innovation regulator, but he also understands the important nuances of many of these technologies and their impact.

This was fun to hear from him directly.

YouTube: https://t.co/DFAk7T10UB
Spotify: https://t.co/v9Vzk28kS2
Apple: https://t.co/jLgevBMAdW

TIMESTAMPS:
0:00 - Intro
0:59 - SEC & CFTC cooperation & new policy direction
3:44 - AI, crypto & prediction markets shaping the future
7:49 - Insider information, manipulation & market risks
13:23 - Decentralization & regulating on-chain markets
17:14 - The rise of AI trading agents
21:30 - AI, memes & misinformation in financial markets
23:04 - Should regulators be allowed to use crypto?
25:00 - Innovation task force & new policy initiatives
27:18 - Bridging the gap between lawmakers & builders
29:30 - Perpetual futures and new crypto market products
31:16 - The role of regulators in managing market risk