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A settlement with Kraken, a proposed custody rule, and lawsuits against Paxos and Terraform Labs. \u201cThis week has been a very long year,\u201d said Polygon Labs Chief Policy Officer Rebecca Rettig. She joins Coinbase Chief Legal Officer Paul Grewal to interpret what\u2019s going on with the SEC. Is it just one big push to cripple the crypto industry? \u201cThe fact that we\u2019re all \u2026 trying to read tea leaves speaks to a failure in the system that relies upon one-off enforcement actions rather than a public rulemaking process,\u201d said Grewal.\n\nShow highlights:\n\nhow the implosion of FTX sped up regulatory actions\xa0\n\nwhether the SEC will go after other staking services\n\nwhy the statement that crypto firms should just register with the SEC is \u201cdisingenuous\u201d\n\nwhat seems to be behind the decision to target the BUSD stablecoin\n\nwhether SEC enforcement actions will be detrimental to innovation in the U.S.\n\nwhat features would make stablecoins securities\n\nwhy the SEC is alleging that the UST stablecoin is a security\n\nwhy \u201cexpansion of jurisdiction\u201d is at the heart of the SEC\u2019s proposed crypto custody rules\n\nwhy Paul thinks that forcing crypto innovation offshore could become a national security issue for the U.S.\n\n\n\nThank you to our sponsors!\nCrypto.com\nFTSE\nHalborn\nNYU\n\nGuests:\nPaul Grewal, Chief Legal Officer at Coinbase:\nTwitter\n\nRebecca Rettig, Chief Policy Officer at Polygon Labs:\nTwitter\n\n\nLinks\n\n\nWIRED: Confusion Spirals in Crypto as the US Cracks Down\n\n\n\nUnchained:\xa0\n\nCircle Told NYDFS That Paxos-Issued BUSD Wasn\u2019t Fully Backed\n\nSEC Wants Tougher Rules for Crypto Custody\n\nSEC Sues Do Kwon and Terraform Labs\n\n\nWSJ:\xa0\n\nCrypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token\n\nRegulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin\n\n\nBloomberg: US Crackdown Seeks to Push Crypto Back to the Fringes of Finance\n\n\nSEC:\xa0\n\nPocketful of Quarters, Inc.\n\nStatement on Safeguarding Advisory Client Assets Proposal\n\n\nCoinDesk: SEC Proposal Could Bar Investment Advisers From Keeping Assets at Crypto Firms\n\n\nJesse Powell\u2019s tweet\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices