Law & Policy

“The same intuitive principle that governs our understanding of car manufacturer and driver liability should be the foundation of sensible policymaking in the context of decentralized networks and protocols.”

Today, @a16zcrypto published a piece authored by DEF’s @millercwl & @atuminelli discussing why sound policymaking for crypto should always start from an analysis of “control” in a given system. 🧵 

https://a16zcrypto.com/posts/article/doj-actions-against-defi/

Cross-casting an insightful thread from @fund-defi on the importance of “control” in crypto policymaking.

@millercwl @atuminelli @a16zcrypto

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Chief Legal Officer at DeFi Education Fund @fund-defi. Human to bader the dog. Avid reader of fantasy fiction. Constantly seeking excellent food.

Cross-casting an insightful thread from @fund-defi on the importance of “control” in crypto policymaking.

@millercwl @atuminelli @a16zcrypto 

https://warpcast.com/fund-defi/0x06e40a35

Crypto Attorney, Web2 Founder, Farcaster Maxi. Moderator for /law-policy

There is no law more existential for crypto projects than § 1960, which makes it a crime to operate an “unlicensed money transmitting business.” § 1960 is front and center in the Tornado Cash case, where a court held in September that Roman Storm could violate the statute even without control over user funds. Today, @atuminelli, @jchervinsky, and I published the most detailed analysis I’m aware of on how to interpret the statute in The International Academy of Financial Crime Litigators. Our core finding: § 1960 requires control, so the Tornado Cash court got it wrong. Check out the article here: https://edit.financialcrimelitigators.org/api/assets/cd682a1c-1cb0-4c99-a491-ac6155f4bdc2.pdf.

I’ve learned so much from @dbarabander on § 1960

building skala.io, partner at buzko.legal

I’ve learned so much from @dbarabander on § 1960

https://warpcast.com/dbarabander/0xbc2c1582

The original paper is also great!

https://edit.financialcrimelitigators.org/api/assets/cd682a1c-1cb0-4c99-a491-ac6155f4bdc2.pdf

I thought you were going to say “control” in money transmission, but this works well too

are you watching the press conference right now? would love your POV on it after