Lex_Node's Official CryptoLaw Newsletter

Lex_Node's Official CryptoLaw Newsletter navigates the intersection of blockchain technology, DeFi, and legal frameworks, focusing on DAOs, securities law ambiguities, decentralized governance, regulatory challenges, and privacy rights. It critiques legislation, explores the legal identity of tokens, and offers perspectives on fostering autonomy and compliance in the crypto space.

Blockchain and Law DAOs and Legal Structures Securities and Regulatory Compliance Decentralized Finance (DeFi) Governance Tokens Privacy and Digital Rights Cryptocurrency Litigation Legal Implications of NFTs

The hottest Substack posts of Lex_Node's Official CryptoLaw Newsletter

And their main takeaways

The Cryptolaw Bill of Rights

137 implied HN points • 07 Jan 24
🔮 Crypto
  1. The Cryptolaw Bill of Rights emphasizes the absolute right to create, publish, and use autonomous cryptosystems.
  2. Individuals have the right to privacy, anonymity, and control over assets within autonomous cryptosystems.
  3. Users of autonomous cryptosystems have the right to engage in civil disobedience, and enter into agreements while exercising control over assets.

Autonomy vs Decentralization

78 implied HN points • 14 Jan 24
🕹 Technology Blockchain Cryptocurrency Decentralization Autonomy
  1. Autonomy is about being resistant to external powers in the sense of self-sovereignty and independence.
  2. Decentralization involves distributing intrinsic power across multiple actors to prevent unfair exercise and ensure availability.
  3. Decentralization can enhance autonomy by making a system more robust against external influences, thus facilitating user independence.

WYOMING’S LEGAL DAO-SASTER

393 implied HN points • 10 Apr 21
  1. Bill 38 does not solve any problems and offers no benefits
  2. Bill 38 imposes unnecessary restrictions on LLC DAOs, making them less attractive
  3. The bill misinterprets the concept of DAOs and smart contracts, creating confusion and constraints

AUTONOMOUS LAWYERING

334 implied HN points • 17 Oct 20
  1. Blockchain communities have evolved to create self-organizing systems with unique legal challenges.
  2. Autonomous lawyering allows lawyers to work publicly, sharing insights within decentralized technology communities.
  3. Autonomous lawyering complements traditional lawyering by increasing access to justice in specific contexts.

How SEC vs. Ripple Stems from an Age-Old Philosophical Debate

176 implied HN points • 10 May 21
  1. SEC vs. Ripple litigation involves creative defenses challenging SEC's guidance and enforcement
  2. SEC views tokens based on their functions and relationships in transactions, not just intrinsic features like essentialism
  3. Debate over XRP's classification as a security reflects a larger split between legal functionalism and legal essentialism
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Are Tokens Debt or Equity? Why it Matters

176 implied HN points • 28 Mar 21
  1. Classification of tokens as debt or equity under securities law is crucial
  2. SEC has not provided clear compliance paths for tokens deemed as securities
  3. Determining if a token is classified as equity or debt affects trading restrictions and compliance requirements

Governance Tokens - The Good, the Bad, The Ugly

176 implied HN points • 15 Nov 20
  1. Governance tokens serve different types of functions in blockchain systems, such as protocol governance and treasury management.
  2. Not all governance tokens are equally justified in their existence, with some potentially serving as regulatory arbitrage or liquidity tools rather than effective governance mechanisms.
  3. The design and purpose of governance tokens can vary significantly, with some tokens clearly defining their roles while others remain fluid and under-defined, leading to diverse outcomes and implications.

Debunking Securities Law Myths About Tokens

157 implied HN points • 06 Sep 20
  1. Most tokens can be commodities under U.S. law and still be considered securities.
  2. Tokens marketed as currencies can still be subject to securities laws.
  3. Marketing a token as an investment is not necessary to qualify it as a security.

Legalize NiFTies

117 implied HN points • 30 Sep 20
  1. NFTs may not always confer digital ownership as ownership is a legal concept, not just technological.
  2. NFTs can be re-conceptualized as Certificate Tokens (CTs) to represent various legal relationships like IP ownership and stock ownership.
  3. Legal engineering can enhance CTs by creating platform-specific quasi-ownership rights through clever legal contract drafting.

SEC vs. DEFI - Part I: DeFi Cometh & So Do the Regulators

117 implied HN points • 13 Sep 20
  1. DeFi's skyrocketing valuations will attract mainstream media coverage and regulatory attention.
  2. SEC guidance on token sales is primarily focused on 2017-style utility tokens, leaving a gap for DeFi governance tokens.
  3. There is currently no clear compliance path for launching tokens, indicating a need for regulatory clarity in the DeFi space.

Fork Law Meditations: Part 1

98 implied HN points • 25 Oct 20
  1. There are four main property-ish legal rights associated with blockchains: token ownership, smart contract ownership, network ownership, and protocol ownership.
  2. Property rights can be affected differently by blockchain forks.
  3. Investors in blockchain projects might have property-ish rights in the protocol through legal agreements.

SEC vs. DeFi - Part II: TheDAO Rises

58 implied HN points • 21 Sep 20
  1. Recent events in cryptolaw, particularly around DeFi governance tokens, have sparked debate and triggered reactions among crypto lawyers and enthusiasts.
  2. The SEC's arguments regarding the classification of DeFi governance tokens as securities can be influenced by the Howey test, emphasizing factors such as investment of money, expectation of profits, and common enterprise.
  3. Governance tokens in DeFi projects likely start as securities due to factors like the potential for profits from the efforts of others, common enterprise among token holders and the entity behind the token, and the lack of sufficient decentralization.

Lex_Node’s CryptoLaw Newsletter

0 implied HN points • 08 Jul 20
  1. Lex_Node's CryptoLaw Newsletter covers legal issues & regulatory developments in blockchain, DeFi, cybersecurity, and other technologies.
  2. The newsletter promises unique cryptolegal insights for readers to judge.
  3. Readers are encouraged to sign up to stay informed and share with friends.