Jake Chervinsky

@jchervinsky

108 Following

1507 Followers

Jake Chervinsky pfp

Jake Chervinsky

"Crypto is nonpartisan." This statement used to be uncontroversial, but as election season heats up and crypto becomes a live issue on the campaign trail, many are starting to wonder if crypto has—or even should—take the side of Republicans (Rs) against the Democrats (Ds). We should not. Here's why. https://paragraph.xyz/@jchervinsky.eth/keep-crypto-nonpartisan

12 replies

19 recasts

93 reactions

Justin Slaughter pfp

Justin Slaughter

What’s the single most helpful, realistic position or action Kamala Harris could take on crypto policy before the election (besides promising to fire Gary Gensler if she wins)?

8 replies

3 recasts

18 reactions

Jake Chervinsky pfp

Jake Chervinsky

https://warpcast.com/jchervinsky/0x1ec724ef

0 reply

0 recast

0 reaction

Jake Chervinsky pfp

Jake Chervinsky

If I had to pick among the recommendations I made below, I'd start simple: make a statement on tech regulation that acknowledges the value of crypto, the failure of Gensler's SEC to regulate it, and the importance of new policy that supports rather than chills innovation. It's doable, and we have to start somewhere.

1 reply

1 recast

4 reactions

Jake Chervinsky pfp

Jake Chervinsky

The Majority Whip is right. The launch of spot ETH ETFs is worth celebrating, but we didn't get here by changing hearts and minds at the SEC. This victory is downstream of Grayscale beating them in court. Today's lesson: don't be afraid to sue the government. https://x.com/GOPMajorityWhip/status/1815752761641709591

2 replies

7 recasts

75 reactions

Jake Chervinsky pfp

Jake Chervinsky

I respect that view from a normative perspective, and it probably reflects the vast majority of people in crypto, who aren't "single-issue voters" for crypto policy. But from a descriptive perspective, it appears thousands of voters in swing states *are* single-issue voters whom the Democratic Party should pursue.

1 reply

0 recast

1 reaction

Jake Chervinsky pfp

Jake Chervinsky

I meant it less as wishful thinking and more as "this is what I'd need to see/hear to think Harris would not continue Biden's crypto policy" but unfortunately agree it's pretty hard to imagine. Still, hope for the best? 😅

0 reply

0 recast

4 reactions

Jake Chervinsky pfp

Jake Chervinsky

As of yesterday, the Trump/Vance ticket had the crypto vote locked up. As of today, with President Biden's decision to step aside, the Democrats have a fresh chance to leave the anti-crypto army behind and win back a significant share of the crypto vote. It all comes down to the new nominee. Here are some thoughts on why and how that person (cough, Kamala) can and should turn it around: https://paragraph.xyz/@jchervinsky.eth/biden-gives-democrats-a-chance-for-a-crypto-reset

10 replies

30 recasts

90 reactions

Jake Chervinsky pfp

Jake Chervinsky

Take one look at the federal government or the major political parties and tell me again how bad at governance DAOs are 🙃

17 replies

19 recasts

201 reactions

Jesse Walden pfp

Get you a lawyer that can read/write smart contracts AND dumb contracts. (note: @dbarabander is not YOUR lawyer)

1 reply

2 recasts

24 reactions

Jake Chervinsky pfp

Jake Chervinsky

Lawyers who code are rare, but absolutely crucial to effectively navigate crypto regulation. I'm lucky to work with @dbarabander at Variant, whose technical ability is surpassed only by his extraordinary legal skills 🔥 See for yourself in his new blog, which launches today with an analysis of SEC v. Consensys:

2 replies

3 recasts

37 reactions

Jake Chervinsky pfp

Jake Chervinsky

There's no good reason why the SEC should prevent ETH ETFs from staking. Staked ETH isn't a security, and investors can fully understand the risk of a staked product + decide for themselves if they want to take that risk. It'll take a while, but this is "when," not "if," imo.

20 replies

28 recasts

216 reactions

Jake Chervinsky pfp

Jake Chervinsky

We've been fighting so long, it's hard to imagine crypto under a healthy SEC that writes tailored rules to properly regulate the industry while focusing enforcement on the actual bad guys. The unlock for founders—and the USA—would be huge. Guess what? We're winning the fight.

3 replies

1 recast

24 reactions

Jake Chervinsky pfp

Jake Chervinsky

If someone other than Joe Biden wins the presidency (whoever that might be), US crypto policy could look wildly different in 2025. As a result, many crypto companies are delaying their products, tokens, etc. until after the election. This summer may be even quieter than usual.

4 replies

3 recasts

19 reactions

Jake Chervinsky pfp

Jake Chervinsky

A major victory against administrative overreach in SEC v. Jarkesy today 💥 SCOTUS holds that the SEC violated the Seventh Amendment right to a jury trial by using in-house hearings to seek civil penalties. I expect this is the first of many blows that SCOTUS will deliver to the SEC in coming years 📈

1 reply

3 recasts

27 reactions

Jake Chervinsky pfp

Jake Chervinsky

Let me put my view plainly: No market structure legislation until 2025 at earliest. Anything politically viable this year will require a policy compromise that the industry should not accept right now, given our rising influence and the coming election. Let's keep fighting.

0 reply

3 recasts

22 reactions

Jake Chervinsky pfp

Jake Chervinsky

MiCA’s stablecoin regulations take effect across the EU on June 30. The EU figured out how to regulate this market before the US did. Now it looks like stablecoin issuers and providers are setting up in Europe and molding themselves by EU standards. A big missed opportunity 🇺🇸

0 reply

2 recasts

11 reactions

Marisa pfp

Loved writing this with @atuminelli

0 reply

3 recasts

7 reactions

Jake Chervinsky pfp

Jake Chervinsky

The Fifth Circuit just vacated the SEC's private funds rule, holding that the SEC exceeded its statutory authority. The administrative state is out of control, and the federal courts are reining it in. Love to see it 🔥 https://storage.courtlistener.com/recap/gov.uscourts.ca5.215539/gov.uscourts.ca5.215539.123.1.pdf

1 reply

3 recasts

22 reactions

Jake Chervinsky pfp

Jake Chervinsky

The SAB 121 spin from defenders of Democratic Party crypto policy: - Biden promised a veto so was obligated to follow through, but is still pivoting on other issues, like SEC policy; and - Biden doesn’t speak for the party, which has a large and growing number of supporters. The response from crypto voters: 🖕

1 reply

3 recasts

14 reactions