Alpaca

[Scott Johnsson @SGJohnsson]

A lot of discussion/confusion regarding the SEC asking Bitcoin ETF filers to revise their filings lately. It seems helpful if we can clarify these events with context from Grayscale case, and try to figure out what's going on.

First, a little history and status of the law:
1/

[Alpaca @lexbit7]

@exlawyernft @SECGov @GaryGensler

[exlawyer @exlawyernft]

1. Wow... The @SECGov under @GaryGensler has had over 25 instances in which the agency staff responsible for bringing & prosecuting enforcement actions had access to documents created by the staff responsible for advising the commission on how to rule on those enforcement actions

[Alpaca @lexbit7]

@ericonomic Qué hilazo! Thks

[Alpaca @lexbit7]

@logicalgraphs @TeamKujira Where do you buy xUsk or xKuji?

[Alpaca @lexbit7]

@lex_node @delphi_labs

[_gabrielShapir0 @lex_node]

DAOs are under legal attack. But we can’t give up; decentralization & autonomy are more important than ever.

That’s why, today, I’m excited to announce a new concept I’ve developed with @delphi_labs the Cybernetic Organization or 'BORG'.
https://t.co/aXGgGck3Cd

[Alpaca @lexbit7]

@lex_node

[nic carter @nic_carter]

The simple case for the U.S. to embrace stablecoins, delivered by @austincampbell's in the House Financial Services Cmte hearing yesterday

[Adam Cochran (adamscochran.eth) @adamscochran]

In fact, if any of @PatrickMcHenry's staff want to meet, I will spend time with you outlining in extensive detail:

-Gensler's conflicts of interests
-His failed legal arguments
-The exact points of clarity this industry wants from the SEC
-The exact proof we're not getting them

[Ron Hammond @RonwHammond]

1) This week in Congress and crypto: Huge week for crypto policy. SEC Chair Gensler testifies in front of @FinancialCmte for the first time in over a year and a half and the McHenry/Waters stablecoin legislation is back in the mix. Here's what to expect this crazy week...

[Rujira @RujiraNetwork]

🗳️ There are 2 important gov props up for voting

333: GHOST: Instantiate $USK Vault
https://t.co/PviaMm4M6A

334: GHOST: Instantiate $KUJI Vault
https://t.co/y2z0HHQ5Qz

Do you believe in GHOST? 👻

[Alexander Grieve @AlexanderGrieve]

The SEC just voted to reopen comments on the definition of an exchange, specifically to consider how to incorporate DeFi into existing exchange rules, while also providing opinion that such rules already have DeFi applicability.

[Alpaca @lexbit7]

@HesterPeirce Good

[Hester Peirce @HesterPeirce]

In addition to ironing this t-shirt (which republishes code from a comment letter), will I need to register as an exchange before wearing it? "It depends," per the SEC's latest release: https://t.co/mARz8FzNZD

[Alpaca @lexbit7]

@ohaiom This is the way

[Jason Gottlieb @ohaiom]

The quickest way to change the game is legislation. We need Congress to pass new and favorable laws. Write your Members of Congress! Call them! Crypto is a weirdly apolitical issue, with some Rs and Ds for, some Rs and Ds against. 21/

[_gabrielShapir0 @lex_node]

I don't fully agree with @NYcryptolawyer 's analysis but one thing 'sfor sure--the SEC is going gonzo by saying most/all tokens are a new thing called "crypto-asset securities"

this does *not* align with the Howey test

[Alpaca @lexbit7]

@lex_node It’s true

[Alpaca @lexbit7]

The same, when BTC as collateral, when?