Congressmen Tom Emmer and Patrick McHenry sent the SEC a letter demanding clarification on how crypto airdrops are securities offerings. Amanda Tuminelli of the DeFi Education Fund breaks down why she thinks the SEC is wrong on its interpretation.

This week, Republican Representatives Tom Emmer and Patrick McHenry sent a letter pressing SEC Chair Gary Gensler for clarity on how securities laws apply to airdrops.

With billions of dollars worth of tokens airdropped this year alone, projects need clarity more than ever.

In this episode, Amanda Tuminelli, Chief Legal Officer of the DeFi Education Fund, dissects the SEC’s stance on airdrops, why her organization believes the SEC has stretched the legal definition of “compensation” too far, and what Congress might ask Gensler in his upcoming hearing.

Plus, she talks about how the SEC “regrets” any confusion it caused for using the term “crypto assets securities,” since the agency now admits that tokens themselves are not securities.

Show highlights:

• Why Amanda believes the SEC’s position on airdrops doesn’t make sense
• Why the DeFi Education Fund sued the SEC over the BEBA airdrop
• How the SEC’s position on airdrops has been clear for a while, but is “wrong” according to Amanda
• Her take on users bypassing the geographic restrictions to claim airdrops in the U.S.
• How and why the SEC has changed its language around “crypto assets securities”
• How the SEC’s new position on crypto assets implicating securities laws seems to rest on the “embodiment” theory
• Why Amanda believes the Supreme Court or Congress may be needed to step in
• What Amanda expects Congress to question Gary Gensler about in the hearing next week
• Amanda’s takeaways from the first Congressional DeFi hearing last week
• How she expects the presidential election will impact the regulatory landscape in the U.S.

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

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Guest

• Amanda Tuminelli, Chief legal officer of the DeFi Education Fund
• Previous appearances on Unchained:
• Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance?
• Is This the End of DeFi? Why the US Government Is Going After Tornado Cash

Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk.

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CoinDesk Indices presents notable data insights from the week, followed by additional analysis from Chris Aruliah, Head of Institutional at ByBit.

To get the show every day, follow the podcast here.

The CoinDesk Market Index (CMI) functions as a benchmark for the performance of the digital asset market, delivering institutional quality information to digital asset investors. Subsets of the CoinDesk Market Index (CMI) are investable CoinDesk Crypto Sectors and the CoinDesk 20 Index, designed to measure the performance of top digital assets. Today’s takeaways are provided by Tracy Stephens, senior index manager at CoinDesk Indices with additional analysis from Chris Aruliah, Head of Institutional at ByBit.

For more on CoinDesk Indices, visit: coindeskmarkets.com.

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Host Jennifer Sanasie breaks down the news in the crypto industry from gains in cat-themed memecoins to India Supreme Court's YouTube page being hacked for XRP promotion.

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as cat-themed tokens saw gains after the U.S. Federal Reserve cut rates by 50 basis points. Plus, the YouTube page of India’s Supreme Court was hacked to promote XRP, and SocGen's crypto unit will roll out its euro stablecoin on the Solana blockchain.

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.

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Colin and Matt cover a motley of news items including Hut 8’s U3S21EXPH partnership with Bitmain, Bhutan’s fat bitcoin stacks, why Robert F. Kennedy Jr. is bullish on bitcoin mining, and Trump’s historic bitcoin purchase.

Welcome back to The Mining Pod! For this week’s news roundup, the crew dives into Hut 8’s partnership with Bitmain on the manufacturer’s new hydro-cooled ASIC model, the U3S21EXPH. Matt also gives everyone a geography lesson with his overview of Bhutan and its hoard of 13,011 BTC worth $780 million, the fourth largest BTC reserve of any nation, and Colin covers Robert F. Kennedy Jr.’s letter to the editor in the Economist in which he defends Bitcoin mining for its utility as a flexible load for renewable energy. Plus, a former President, a bitcoin mining CEO, and a pub owner walk into a bar, and everyone leaves with a burger paid in bitcoin (yes, every outlet has covered this story, but we are too). And finally in this week’s cry corner, the unfortunate story of a Norwegian town whose residents will pay more for power after a bitcoin mine ceased operations.

Enjoying the show? Check out our newsletter at miningpod.blockspace.media!

Timestamps:

00:00 Start

01:38 Difficulty update

03:36 Fractal fees

07:23 Hut 8 and Bitmain ASIC partnership

12:50 Bhutan got them bags!

19:19 RFK Economist letter to the editor

23:12 Trump's Bitcoin Burger

29:32 Cry Corner: Norwegian energy costs rise

Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

👉 Check out Bitcoin Season 2 and The Gwart Show.

Follow our hosts on Twitter: @wsfoxley, @cbspears, @AsILayHodling, @MatthewKimmell

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Thank you to our sponsor, CleanSpark, America’s Bitcoin miner!

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"The Mining Pod" is produced by Sunnyside Honey Inc. with Senior Producer, Damien Somerset. Distributed by CoinDesk.

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The latest price moves and insights with Jennifer Sanasie.

To get the show every day, follow the podcast here.

CoinDesk's Jennifer Sanasis dives into the Federal Reserve's recent 50 basis point rate cut and its impact on the crypto market, including a positive reaction from bitcoin and other major cryptocurrencies. Plus, what experts are saying about the central bank's decision.

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This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.

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This episode was hosted by Jennifer Sanasie and Brad Keoun. “Markets Daily” is produced by Jennifer Sanasie and Melissa Montañez, and edited by Victor Chen. All original music by Doc Blust and Colin Mealey.

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Host Jennifer Sanasie breaks down the news in the crypto industry from Donald Trump's burger purchase at Pubkey to Solana's second crypto phone.

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as former U.S. President Donald Trump visited Pubkey, a bitcoin-themed NYC bar. Plus, Solana unveils details of second crypto phone, and bitcoin's price reaction to the Fed rate cut.

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Host Jennifer Sanasie breaks down the news in the crypto industry from the possibility of a crypto bill this year to FTX accounting firm's settlement with the SEC.

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as Rep. Patrick McHenry and Sen. Cynthia Lummis maintain their position that a chance remains for a crypto bill to clear Congress before the end of the year. Plus, FTX accounting firm Prager Metis agrees to pay $1.95 million in settlement to the SEC, and CFTC Chair Behnam speaks on the legal battle against Kalshi.

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The latest price moves and insights with Jennifer Sanasie, Brad Keoun and BitMEX co-founder and Maelstrom CIO Arthur Hayes.

To get the show every day, follow the podcast here.

BitMEX co-founder and Maelstrom CIO Arthur Hayes shares his insights on whether a Fed funds rate cut of 25 or 50 basis points could lead to a financial catastrophe or a short-term rally. Plus, he weighs in on the potential ramifications of government spending, inflation, and the reliance on fiat currency systems across major economies.

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This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.

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This episode was hosted by Jennifer Sanasie and Brad Keoun. “Markets Daily” is produced by Jennifer Sanasie and Melissa Montañez, and edited by Victor Chen. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.