Law & Policy

Law & Policy

A space to discuss Blockchain, Crypto, and Web3 Law & Policy

Taylor pfp

There's a lot to absorb in yesterday's crypto report from the White House. As a tax guy, I am pleased to see a lengthy discussion of priorities for tax regulations and legislation. There are some interesting tidbits in there. For example, it appears that the White House has not ruled out treating staking and mining rewards as self-created property. "Treasury and the IRS should review previously issued guidance related to the timing of income from staking and mining and consider whether to clarify, modify, or reverse that guidance." Also, the Administration seems inclined to treat stablecoins as some sort of debt instrument rather than money, but favors legislation that would facilitate "the widespread use of payment stablecoins as financial assets that function in a similar manner to cash-equivalents." It will be interesting to see how this report influences tax legislation currently pending in Congress. https://www.whitehouse.gov/wp-content/uploads/2025/07/Digital-Assets-Report-EO14178.pdf

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Inca pfp

Crypto’s unmitigated risks confer unparalleled agency through the consensus of “code is law”. In contrast, SocialFi regulatory standards should proactively address information asymmetry to facilitate sustained consumer onboarding and ensure scalability.

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Nick Rishwain pfp

Really fantastic story in here about prosecutorial incompetence in the Storm case. I haven't been following as closely as I should, but I now have to find out the "purpose" of this testimony if Tornado cash was never used.

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Birdnals.eth 🎩💩 pfp

Birdnals.eth 🎩💩

The Senate zigged from the CLARITY Act in a market structure discussion draft, and the right-to-code DOJ v. Storm trial week 2 had some major developments (tl;dr- DOJ did some shady shit). Here's everything that happened in Crypto Law last week: https://nfttorney.com/2025/07/29/off-the-blockchain-july-21-28-2025/

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Philipp Petkevitch pfp

Philipp Petkevitch

Last week in crypto regulation (July 21–27):

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adamsnyder.eth pfp

@adamsnyder.eth

I'll be in New York on August 12 to attend Ethereum NYC: NextFin Summit. It should be a great networking opportunity for anyone working (or seeking to work) in crypto law/policy. The event brings together founders, policy makers, regulators, financial institutions, and even a few lawyers to discuss accelerating blockchain adoption and Ethereum's role in shaping the future of finance. SPEAKERS Tomasz Stańczak -- Executive Director of the Ethereum Foundation Tom Lee -- Head of Research at Fundstrat Capital & unofficial Ethereum delegate to CNBC Vivek Raman -- CEO of Etherealize Arjun Sethi -- Co-CEO at Kraken Chris Giancarlo -- Former CFTC Chair & "CryptoDad" Hong Kim -- Co-Founder & CTO of Bitwise Asset Management Michael Sonnenshein -- President of Securitize . . . and many more. If you will be attending (or are located in New York), please drop me a line. I'd love to connect in person. https://lu.ma/ozlqxrph?tk=M2z8n1

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Taylor pfp

Thanks @codeofcrypto for passing along this thorough survey of recent crypto policy developments. I have some issues, however, with the summary of the revocation of the so-called DeFi broker regulations of TD 10021 relating to tax information reporting by digital asset brokers. The report says that the "removal exempts decentralized finance exchanges, operators of custodial crypto trading platforms, certain crypto wallet providers, crypto kiosks, and certain processors of crypto payments from tax reporting requirements through Form 1099-DA and from KYC requirements." The removal does not exempt anyone from reporting under section 6045 and it certainly does not do anything about KYC requirements; it merely revoked regulations that would have imposed broker reporting obligations on providers of "trading front-end services", which could have covered DeFi trading by a person through websites or wallets that "(i) Enable such person to input order details with respect to a transaction ... and (ii) Transmit those order details so that the transaction can be carried out or settled on a cryptographically secured distributed ledger." The revocation merely restored the 6045 regulations to the state they were in before the issuance of TD 10021, which means that the regulations currently "reserve" on the issue of DeFi brokers, although the CRA by Congress prohibits Treasury from issuing future regulations that are substantially the same as TD 10021. Whether or not future regulations impose some form of reporting obligations on DeFi exchanges, it is quite clear that "operators of custodial crypto trading platforms, certain crypto wallet providers, crypto kiosks, and certain processors of crypto payments" were already subject to broker reporting under the first round of regulations under TD 10000, which were not revoked. Treasury's revocation of TD 10021 very clearly reinstates the sections of the 6045 regulations that impose broker reporting obligations on all of these actors. Contrary to what the Galaxy report says, broker reporting under 6045 is definitely not limited to centralized exchanges.

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Inca pfp

LatAm’s regulators could often tolerate legal SocialFi creator coins without formal classification as financial securities. In the US and EU, the Clarity Act and MiCAR require tokens issued by influencers, brands, and artists to undergo costly scrutiny of economic substance despite crypto fun disclaimers.

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codeofcrypto pfp

Sharing a comprehensive and insightful summary of crypto policy developments under the Trump administration. https://www.galaxy.com/insights/research/crypto-policy-under-trump-administration

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Birdnals.eth 🎩💩 pfp

Birdnals.eth 🎩💩

Well it certainly wasn't an uneventful week, with "Crypto Week" in the House filled with (unnecessary) drama but ending with massive bipartisan support for crypto legislation! Huzzah! Here's everything that happened in Crypto Law last week: https://nfttorney.com/2025/07/22/off-the-blockchain-june-july-14-21-2025/

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Aaron Brogan pfp

Genius is law now, which is a monumental event in the progression of crypto law in the United States. I wrote about what this will mean, some open questions and some implications. The biggest one is this: who will get the interest stablecoin reserves collect? At first glance, it might look like stablecoin issuers, but I'm not sure. Check it out here and subscribe. https://broganlaw.substack.com/p/genius-act-passes

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Philipp Petkevitch pfp

Philipp Petkevitch

Last week in crypto regulation (July 14–20):

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Greg Lang pfp

Privacy is the heresy. Code is the blasphemy. Roman Storm is the witch.

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Inca pfp

Most influential accounts are considered de facto market disruptors under MiCAR, BaFin, and MiFID regulations within crypto-asset service providers such as Farcaster. Unlike generic content media, SocialFi influencers may be required to conduct conflicts of interest and paid connections checks to protect followers.

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Sarah Shtylman pfp

I’m glad to see so many dems voting in favor of the GENIUS act because crypto should not be partisan. I maintain it’s an unforced error by the industry (and legislators) to impose a 10bn cap on state regulated issuers, but a W is a W. Stablecoins are here to stay (which I never doubted).

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