Hey everyone, I’m sure you’ve seen the key things happening in the web3 legal landscape, but if not, here are some of the developments that I think are worth noting:

1/ SEC's expanding definition of securities. In a lawsuit against Cumberland DRW, the SEC labeled Polygon's POL, Solana's SOL, and an undefined list of other cryptocurrencies as securities. This broad approach could have far-reaching implications for many projects in the space as it’s not clear who might fall onto that list.

2/ Global regulatory shifts. Seychelles has implemented a new VASP framework, aligning with international standards. Meanwhile, the UAE is attracting crypto businesses with VAT exemptions on crypto transfers and conversions. These moves highlight the growing competition among jurisdictions to become crypto-friendly hubs. Also, Seychelles has been a home for many web3 projects, so now they need to either review their legal setups or apply for a license in a short period of time.

Building legal platform for default global companies, open-sourcing legal for Web3 on legalnodes.com (not legal advice), Techstars 21'

4/ SEC's surprising retreat. In an unexpected move, the SEC has backed away from using the term "crypto asset securities." This could potentially weaken the SEC's position on crypto assets and impact its authority over secondary digital asset markets.

5/ Crypto.com challenges SEC. In a bold move, Crypto.com has taken legal action against the SEC, its Chair Gary Gensler, and four commissioners after receiving a Wells Notice. This lawsuit aims to prevent the SEC from expanding its jurisdiction over secondary-market sales of specific network tokens on the platform.  

What's your take on these events? Which ones concern you the most or give you the most hope?

3/ Stablecoin regulation heating up. The US is exploring federal stablecoin licensing, while South Korea plans new regulations for cross-border stablecoin transactions. This global push for stablecoin regulation aims to enhance security and transparency in this crucial sector of the crypto market. And overall, I think stablecoins (and its regulation of course) will be one of the hottest topics during 2025.