The SEC vs Coinbase and Binance

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(00:02:10) - (First question) - Changes in SEC's approach to crypto compared to traditional finance

(00:07:06) - SEC's complaint against Binance

(00:10:28) - Binance's case highlights the importance of securities trading registration

(00:12:30) - Inflexible registration requirement of the SEC hinders innovation in crypto

(00:14:31) - Coinbase case exposes SEC's contrasting approach and Coinbase's good-faith

(00:16:49) - Why the timing of Coinbase's testimony is significant

(00:19:26) - Potential impact of finding one token as a security among a group

(00:21:23) - The role of burn mechanisms, presales, and primary/secondary transactions

(00:28:00) - Analogy of trading cards in a securities transaction

(00:32:58) - Equity and token ownership do not necessarily classify tokens as securities

(00:35:38) - Staking and earn programs blur the line between service and investment

(00:38:07) - Years-long litigation expected between SEC and major crypto companies

(00:40:46) - SEC faces pressure as internal court cases weaken its position

(00:47:58) - Politics shapes crypto regulation, narrative building influences policy and elections

(00:53:31) - Democrats' anti-crypto stance protects banks but alienates pro-crypto voters

(00:57:19) - What legal or regulatory resolution he is most excited to see over the next six months and six years