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b"Friend.tech, a decentralized social media platform in which you can buy and sell \\u201ckeys\\u201d in your friends on X (formerly known as Twitter) whose value can go up and down, has become a viral sensation, racking up as many as 100,000 users since launching on August 10.\\xa0Should keys be considered securities and thus regulated by the SEC? How should gains and losses be taxed? And how private should users assume their communications and transactions on the platform are? Securities and banking law professor at George Mason Law School JW Verret, and tax partner and co-head of the Digital Assets and Blockchain Practice at Fried Frank Jason Schwartz, share their thoughts.\\xa0\\n\\nListen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.\\nShow highlights:\\n\\nhow Friend.tech works and how the price of keys is determined\\n\\nhow Friend.tech is different from many other past attempts at creating a decentralized social media platform\\n\\nwhether the keys offered by Friend.tech could be deemed securities by the SEC\\n\\nwhat wrapped Friend.tech tokens are and whether these could be considered securities\\n\\nwhy the traditional approach to crypto taxation is bad for most Friend.tech taxpayers\\n\\nwhat the tax implications of Friend.tech airdrops are\\n\\nwhat Friend.tech users should assume about their privacy on the app\\n\\nwhat the future holds for Friend.tech\\n\\n\\nThank you to our sponsors!\\n\\nCrypto.com\\n\\nArbitrum Foundation\\n\\nToku\\n\\nGuests:\\n\\n\\nJ.W. Verret, Associate Professor of Law at George Mason Law School\\n\\nPrevious appearance on Unchained: Coinbase's Legal Action Against the SEC: How It Will Likely Unfold\\n\\n\\n\\nJason Schwartz, tax partner and co-head of the Digital Assets and Blockchain Practice at Fried, Frank\\n\\n\\nFriend.Tech Shows How Complicated Taxing Crypto Transactions Can Be by Jason Schwartz\\n\\nLinks\\n\\nUnchained:\\xa0\\n\\nFriend.tech Threatens to Penalize Users That Move to Copies or Forks\\n\\nFriend.tech Clarifies That Database of 100,000 Users Was Not Leaked\\n\\nWhat Is SocialFi? A Beginner\\u2019s Guide\\n\\nThe \\u2018Howey Test\\u2019 and the Debate Over Crypto's Legal Status - Crypto Security vs Commodity\\n\\nCoinDesk: Friend.tech Attracted NBA Influencers. So Why Does Everyone Think Crypto\\u2019s Latest Trend Will Die?\\n\\n\\nDecrypt: Friend.tech Renames Its Token\\u2014But Is It Even Legal?\\nLearn more about your ad choices. Visit megaphone.fm/adchoices"