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Stephen Palley, partner at Anderson Kill, discusses a few hot-button crypto regulatory issues like lending products, whether DeFi protocols fall under the SEC\u2019s purview, and more. Show highlights:\n why Stephen thinks the SEC and CFTC did not announce more extensive crypto enforcement news this week\n what areas the SEC Chair Gary Gensler and the SEC as a whole are focused on regulating\n what Stephen has heard about whether stablecoins that are not fully-backed are securities\n why Coinbase decided to drop its Lend product\n why Stephen is skeptical that decentralized protocols should be regulated under existing securities laws\n how securities law is contrary to consumer protection in light of DeFi protocols and airdrops\n why DeFi AMMs should be regulated differently than centralized market books\n whether companies running a front-end for a DeFi protocol should be considered an exchange\n why crypto devs are \u201cgoing Satoshi\u201d because of US securities laws\n \xa0\n Thank you to our sponsors!\n Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\xa0\xa0\xa0\xa0\xa0\xa0\xa0\n Nodle: https://bit.ly/3AXGydJ\xa0\n Sorare: https://sorare.com\xa0\xa0\xa0\xa0\xa0\xa0\xa0\xa0\n \n Episode Links\n \xa0\n Stephen Palley\n Twitter: https://twitter.com/stephendpalley\n\n Unchained podcast appearance speaking about Ripple: https://unchainedpodcast.com/the-secs-lawsuit-against-ripple-and-2-execs-what-you-need-to-know/\xa0\n \xa0\n Topics Covered\n \xa0\n Lending Products\n Coinbase blogs regarding Lend\n \n https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009\xa0\n https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb\n \n Lend overview: https://www.jdsupra.com/legalnews/a-september-to-remember-coinbase-avoids-7608131/\xa0\n Brian Armstrong angry tweet storm\n https://twitter.com/brian_armstrong/status/1435439291715358721\n \n BlockFi and Celsius overview\n \n https://www.coindesk.com/policy/2021/09/17/3-states-alabama-securities-commission-also-claims-celsius-violated-securities-laws/\xa0\n \n \xa0\n SEC + Gary Gensler\n How SEC Chair Gary Gensler\u2019s Views on Crypto Have Changed Since His MIT Days\n https://unchainedpodcast.com/how-sec-chair-gary-genslers-views-on-crypto-have-changed-since-his-mit-days/\n \n SEC Chair Gary Gensler Washington Post Q&A\n \n https://www.washingtonpost.com/washington-post-live/2021/09/21/transcript-path-forward-cryptocurrency-with-gary-gensler/\xa0\n \n Gary Gensler + Elizabeth Warren letters\n \n https://www.warren.senate.gov/newsroom/press-releases/warren-releases-response-from-sec-chair-gensler-affirming-need-to-regulate-cryptocurrency-exchanges-and-protect-investors-and-our-financial-system\xa0\n \n Other\n Uniswap delisting certain tokens through its front end\n \n https://www.theblockcrypto.com/linked/112399/uniswap-labs-culls-synthetic-stock-and-derivatives-citing-evolving-regulatory-landscape\xa0\n \n \nLearn more about your ad choices. Visit megaphone.fm/adchoices