Law Decoded: Putting your Bitcoin where your mouth is, Oct. 4–11
Debt ceiling uncertainty erodes trust in the dollar, the DOJ announces the National Cryptocurrency Enforcement Team and the SEC investigates Circle. There is nothing surprising about Senator Cynthia Lummis, a Wyoming Republican known to be among the staunchest crypto supporters in the U.S. legislature, revealing a sizable Bitcoin (BTC) purchase that she had made earlier in the summer. It is still oddly satisfying to observe the alignment between a politician’s long-declared stance on an issue and corresponding monetary behavior (Lummis had been hodling BTC since 2013). Such consistency....
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It's important to put money where your mouth is. Of course, if it is BTC, then putting bitcoin where your mouth is makes all the difference. The proclamation of former Facebook executive and investor Chamath Palihapitiya that he owns $5 million in bitcoins, around 23,000 bitcoin at current CoinDesk BPI prices, is an exercise in confidence for the electronic currency. And the fact that he wants to own at least $10 million more shows serious investor interest in a new type of asset class that some critics have in the past considered worthless. The Winklevii. The Winklevoss brothers,....
The final Law Decoded moves away from specific news to reflect on the biggest legal issues facing crypto. Editor’s noteLadies and gentlemen, it is bittersweet to welcome you to the final installment of Law Decoded, at least with yours truly at the helm. Though someone may pick this newsletter back up at some point, there are no plans to do so now.Taking advantage of the rose-tinted glasses or maybe the graduation goggles that are in effect for this final newsletter, I will be shaking up the format. As last week’s Law Decoded focused on a few long-standing stories in crypto, this week, I....
Another restaurant company is adding Bitcoin to its balance sheet. On Everbowl’s website, they claim “At everbowl, we believe the key to life is motion,” and they’re putting their money where their mouth is. Under the Bitcoin standard, a new stage awaits this California-based “quick-serve restaurant chain with over 50 locations.” Are they embracing the […]
The end of the U.S. federal government's fiscal year brought a cascade of major announcements from agencies. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.Editor's noteIn a tweet late last night, President Trump said that he and Melania had tested positive for COVID-19. If you weren’t already aware of that, you may want to catch up on a deluge of wishes for life and death, alongside speculation as to Trump’s announcement being a hoax, before sitting down to this week’s Law Decoded. Or possibly not.Every week leading....
With the election taking all the air out of the room, we look at what new appointments at the DoJ could mean. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor's noteAre you over the election? I’m over the election. But you can bet that as soon as I finish writing this week’s Law Decoded, I will compulsively check up on what’s happening in Georgia and Pennsylvania. And it seems that I’m not alone.Despite the election highjacking the entire news cycle, crypto has not been completely left in the corner. Likely most....