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Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.\nJake Chervinsky, chief legal officer of Variant, discusses the current state of crypto regulation, touching on several ongoing legal and regulatory issues in the crypto space, including Uniswap\u2019s Wells notice, the Coinbase case, the Tornado Cash case, the Ethereum Foundation investigation and more. Chervinsky argues that the government's approach to these cases is often misguided, particularly in instances where they hold software developers liable for how third parties use their software. He also discusses the potential implications of the government's case against Tornado Cash, suggesting that it could have far-reaching consequences for all open-source software developers.\xa0\nChervinsky also delves into the SEC's ongoing investigations into the Ethereum Foundation, as well as the recent IRS draft form that lists unhosted wallets as a type of broker. He expressed concern about the potential impact of these investigations on the crypto industry, but remained optimistic about the future of DeFi in the US.\nShow highlights:\n\nHow the Tornado Cash case could set a critical precedent for open-source software\n\nHow the government\u2019s Tornado indictment reveals a fear of unsurveilled financial systems, according to Jake\n\nWhat the implications of the Tornado Cash case could be for the broader DeFi space\n\nWhat lessons can be learned from the $62 million hack of Munchables on Blast\n\nHow to address the challenge of malicious actors like North Korea using a permissionless system\n\nWhether Coinbase's staking services are considered a securities offering\n\nWhether Judge Failla\u2019s ruling on Coinbase acting as a broker could be overturned\n\nWhy Jake thinks the SEC will face significant challenges in its potential case against Uniswap Labs\n\nHow the Debt Box case order impacts the SEC\u2019s reputation, according to Jake\n\nHow the industry is pushing back against the SEC\u2019s regulation by enforcement with its own lawsuits for Lejilex and Beba\n\nThe future of DeFi in the U.S. and its potential for success, according to Jake\n\nWhy Jake believes the SEC will deny Ether ETFs and why he disagrees with the latest stablecoin regulation bill by Lummis and Gillibrand\n\nHow the U.S. Presidential election could impact the future of the crypto industry\n\nThank you to our sponsors!\nPolkadot\nGuest:\n\n\nJake Chervinsky, Chief Legal Officer at Variant\n\nPrevious appearances on Unchained:\n\nWhy the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress\n\nThe Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility\n\nAll Things Crypto Regulation With Jake Chervinsky\n\nEverything You Need to Know About the Looming Battle Over Privacy in Crypto\n\nCan Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky\n\nLinks\nTornado Cash\n\nJake\u2019s amicus brief with Amanda Tuminelli\n\nUnchained: Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant?\n\n\nUnchained: Is This the End of DeFi? Why the US Government Is Going After Tornado Cash\n\n\n\nMunchables exploit\nUnchained: Blast-Based NFT Game Munchables Recovers $62.5 Million Lost in Exploit\n\nSEC cases:\n\nCoinbase\n\nUnchained:\xa0\n\nWhy the SEC\u2019s Case Against Coinbase Is So Significant for Crypto\n\nCourt Rejects Coinbase\u2019s Bid to Dismiss SEC Charges Against It\n\nUniswap\n\nUnchained:\xa0\n\nGary Gensler\u2019s Case Against Uniswap: Does the SEC Even Stand a Chance?\n\nSEC Puts DeFi in Its Sights With Potential Uniswap Suit\n\nUniswap Blog Post on the Wells notice\n\nMarvin Ammori Thread on Wells notice\n\nEthereum Foundation\n\nUnchained:\n\nSEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report\n\nThe Real Reason Why the SEC Might Be Going After Ethereum\n\nDebt Box\n\n\nUnchained: SEC Sanctioned for \u2018Abuse of Power\u2019 in Debt Box Lawsuit\n\n\nBeba\n\nDeFi Education Fund and Beba sue SEC over airdrop policies\n\nLejilex\n\nLawsuit document\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices