Brazil Crypto Report
Brazil Crypto Report
#49 Inside the SEC's War on Crypto with Lewis Cohen and Nikhilesh De

#49 Inside the SEC's War on Crypto with Lewis Cohen and Nikhilesh De

The US government's crackdown has rattled crypto markets worldwide - understand what's at stake
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🔥 Quick shout out to our partners at the BlockchainSP Festival and Digital Finance Brasil. These events will take place June 20-23 at the University of São Paulo and bring together crypto and TradFi professionals, students, hackers and investors from all walks

The team announced this past week that former Brazilian Central Bank President and current Binance advisor Henrique Meirelles will join as keynote speaker

Olá pessoal!

I normally try to keep this platform very Brazil focused, but there has been a whirlwind of crypto news out of the US recently that have had major impacts on markets globally.

Like it or not, the US is still the most important crypto market in the world, and if you’re a professional operating in this industry you need to be paying serious attention to what’s happening there.

So to help you do that, Antonio and I invited two experts from the US to help us synthesize what’s going on with these SEC lawsuits and understand how observers in markets like Brazil should be interpreting these events.

We run through the madness of the last couple of weeks in the US, including:

  • June 2 - the McHenry-Thompson draft legislation was introduced. The bill would provide market structure reform specific to crypto assets - including defining clearer roles for the SEC and CFTC with respect to the asset class

  • June 5 - SEC filed 13 charges against Binance (and CZ) accusing it of operating as an unregulated securities exchange, commingling customer funds, misrepresenting trading controls on Binance.US and a bunch of other bad stuff

  • June 6 - SEC sues Coinbase accusing it of operating as an unregistered securities exchange in the US. The agency specifically named a plethora of crypto assets as securities in the lawsuit

  • June 7 - Binance fights back claiming that SEC Chair Gary Gensler offered to be an advisor to Binance and CZ in 2019

  • June 12 - Rep. Warren Davidson introduces the “SEC Stablization Act” that seeks to fire SEC Chairman Gary Gensler

  • June 13 - the infamous Bill Hinman emails related to his 2018 speech about how Ethereum was “sufficiently decentralized” are released as part of the SEC vs Ripple lawsuit

  • June 13 - a federal judge rejects the SEC’s petition to freeze Binance.US’s assets

We break down these events and assess just how bad the situation is, the road ahead for crypto in the US and the outlook for much-needed crypto legislation, and implications for other markets like Brazil.

I learned a lot from this conversation with Nik, Lewis and Antonio and I hope you do as well. You can also listen on YouTube below or on Spotify or Apple Podcasts

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