Ari Redbord sits down with Katherine, Jessi, and Vy to talk about SEC clarity, the onshore perps boom, and DeFi's opsec problem — plus why the U.S. should hack North Korea back. Thank you to our sponsor! Cape: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at https://cape.co/unchained (use code: UNCHAINED). The hosts of DEX in the City spend every week breaking down crypto's legal fights. This time, they're the ones answering the questions. Ari Redbord, Global Head of Policy at TRM Labs, sits down with Katherine Kirkpatrick Bos, Jessi Brooks, and Vy Le for a wide-ranging conversation on where crypto's regulatory and security battles are actually headed. Vy traces her path from SEC enforcement to her case for "tech-neutral" rules: regulators should regulate outcomes, not technology. Katherine explains why DCMs have become crypto's hottest acronym, as true perps and prediction markets move onshore. And Jessi makes her push to stop calling North Korea's hacks "illicit finance" and start naming them a national security threat: Pyongyang, she notes, is funding a weapons program with stolen crypto. Ari goes further — if North Korea can steal hundreds of millions from DeFi, the U.S. should steal it back. Vy pushes back on the panic over the recent hacks: most, she argues, weren't broken smart contracts at all, just sloppy operational security. The conversation covers SEC clarity, the CFTC's moment, DeFi security, on-chain privacy, and what it really takes to keep the ecosystem safe. Host: Ari Redbord - Global Head of Policy at TRM Labs and Host of TRM Talks Hosts: Katherine Kirkpatrick Bos, General Counsel. Previously held senior legal roles across DeFi and centralized exchanges. Jessi Brooks, General Counsel at Ribbit Capital Vy Le - Co-host of DEX in the City and General Counsel of Veda Timestamps 🛡️ 02:29 OFAC's first IRGC-linked exchange sanctions on Zedcex and Zedxion 🧭 05:20 How Vy, Katherine, and Jessi went from the SEC, BigLaw, and DOJ into crypto 🎙️ 14:10 The origin story behind the DEX in the City name and its all-women cast 🏛️ 18:25 Vy on the SEC trading ambiguity for rules, and "tech-neutral" regulation 📈 22:36 Katherine on why DCMs are suddenly crypto's hottest acronym 💙 25:38 Cape: Get 33% off your first six months with code unchained at https://cape.co/unchained 🩹 26:12 Jessi on reframing illicit finance around victims, not just enforcement 🔐 30:03 Jessi and Vy on Drift, Kelp, and why the recent hacks were ops failures 🕵️ 34:52 Katherine on why privacy is necessary for on-chain markets 🔮 40:04 Lightning round: Jessi on agentic finance, Katherine on perps, Vy on vaults Learn more about your ad choices. Visit megaphone.fm/adchoices
