This week on The Defiant Podcast we speak with Gabriel Shapiro, general counsel at Delphi Labs and a member of the LeXpunK group of crypto lawyers. He’s regarded as one of the most prominent voices on regulation in the crypto space, which has lately been a major point of discussion.
Recent developments include the latest draft of the DCCPA bill, Sam Bankman Fried’s industry standards proposal, the CFTC charging Ooki DAO, and the Tornado Cash sanctions. We begin our conversation with Gabriel sharing his thoughts on the current state of the crypto regulatory landscape in the U.S.
There are currently seven government bodies that govern crypto in the US. These are the SEC, CFTC, CFPB, IRS, FinCEN, OFAC, and Congress. We discuss how setting an overarching framework within which these bodies can operate could prevent them from regulating their own corners of the market.
In comparison to other DeFi projects that offer similar services, Ooki DAO is a relatively small player. With the CFTC coming after Ooki DAO, we explore the potential implications for the biggest players in the space like Aave and Compound.
FTX CEO Sam Bankman-Fried recently published a proposal detailing his beliefs on crypto regulation, which drew widespread criticism from the community. He proposed that every crypto transaction should comply with OFAC sanctions, and also that DeFi protocols and frontends should be considered separately where smart contracts can be deemed permissionless but frontends should register as brokers. Gabriel shares his thoughts on SBF’s proposal.
🎙Listen to the interview in this week’s podcast episode here:
📺 Watch the video here:
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