This week’s episode of The Encrypted Economy features Gary DeWaal, Special Counsel to Katten Muchen and former Senior Trial Attorney for the CFTC. With former CFTC Chairman Gary Gensler about to take over the SEC, there was no better perspective to have on the show than DeWaal’s. We discussed our outlooks for the new direction of the SEC in its handling of digital assets, especially how it relates to token classification. Our conversation expanded to include the XRP regulatory nightmare, DeFi liabilities, The Howey Test, and evena citrus based knock-knock joke. To hear all of that and more, make sure not to miss this latest episode of The Encrypted Economy.  

Topics Covered 

• Where Will the SEC Go Under Gary Gensler? 
• XRP & The Failures of Security vs Virtual Currency Classification 
• Establishing Liability in DeFi Projects 
• Balancing Privacy and Preventing Criminal Behavior 
• The Howey Test Going Forward 
• DeFi Innovation vs Regulation 
• Gary’s Outlook for 2021 
• Katten Muchin’s Exciting Developments

Resource List 

• Gary’s LinkedIn Profile 
• Katten Muchin Rosenman Website 
• Bridging the Week & Between Bridges 
• Who is Gary Gensler? 
• Gensler’s Past Comments on Crypto as Securities 
• Simple Agreement for Future Token (SAFT) 
• SEC Statement on Special Purpose Broker-Dealers 
• What is XRP? 
• SEC Complaint Against Ripple 
• Ripple’s Response to SEC Complaint 
• The Howey Test 
• The KickEcosystem 
• Regulation D Offerings 
• What is DeFi? 
• The Aave Safety Module 
• SEC’s Settlement with Zachary Coburn of EtherDelta 
• DOJ Cryptocurrency Enforcement Framework Report 
• BitMex Lawsuit: Complete Overview 
• Tomahawk Coin Case 
• Gary’s Presentation to the CFTC Technology Advisory Committee 
• Katten’s Exciting New Hire 
• Katten’s 2020 Year End Crypto Webinar