Law of Code Jacob Robinson

Justin Wales (@bitcoin_wales) is the Head of Legal for the Americas at Crypto.com. Before going in-house, he was a partner at the international law firm K&L Gates, where he represented crypto companies in all aspects of their business. 

His new book, The Crypto Legal Handbook, is a must-read guide through the laws of crypto, web3 and an ever-decentralizing world. I had an opportunity to read it prior to this conversation — and loved to see the Law of Code podcast mentioned — so this podcast will cover why he wrote the Handbook and what’s inside this essential primer for anyone working in the industry, as well as his unique background. 

You can order The Crypto Legal Handbook here.

[1:45] Why Justin wrote the book

[3:30] Regulatory principles

[6:30] Two assets that can't be commodities

[8:00] Commodities vs securities

[11:00] History behind a "security"

[17:00] What Justin learned from writing this book

& much more.

Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Today’s podcast covers the case of Roman Sterlingov, a 33-year-old Swedish-Russian national, was arrested by Internal Revenue Service criminal investigators at the Los Angeles airport and was accused of creating and operating Bitcoin Fog, a bitcoin “mixing” service that the US Justice Department claims Sterlingov used to enable $336 million in money laundering.

I’m joined by J.W. Verret, an Associate Professor at George Mason and an expert witness who testified in the case, and Roman’s defense counsel: Tor Ekeland, a trial and appellate lawyer known for representing hackers and white collar defendants, as well as Michael Hassard, an Associate with Tor Ekeland Law.



[2:05] The history of Bitcoin Fog

[4:19] Why Roman Sterlingov was investigated

[10:24] The charges against Roman

[12:00] Universal jurisdiction

[19:40] Blockchain tracing as expert evidence.

[32:07] The policy framing of money laundering and crypto

[38:18] Financial privacy

[48:00] Roman's life since the charges

& much more.

You can contribute to the defense fund at the website for Tor Ekland Law.

Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

The DeFi Education Fund and co-plaintiff Beba, an apparel company based in Texas, recently filed a pre-enforcement suit challenging the SEC’s regulation by enforcement approach to crypto and their policy that free airdrops are securities transactions.

Amanda Tuminelli serves as the DeFi Education Fund's chief legal officer where she leads the organization's impact litigation and policy efforts.

Jake Chervinsky recently joined Variant as Chief Legal Officer, where he leads the firm's legal team, and works closely with portfolio founders to overcome the regulatory hurdles holding them back. He’s a board member for the DeFi Education Fund.

Show highlights:

[1:04] Facts and background.

[3:36] Why bring a pre-enforcement action?

[8:02] Free airdrops under existing securities laws.

[13:12] Challenging the SEC's rules.

[22:11] If DEF and Beba win the case, what's next?

& much more.

Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

After the DEF submitted an amicus brief in the Roman Storm matter, which involves Tornado Cash, I spoke with the two authors:

Amanda Tuminelli serves as the DeFi Education Fund's chief legal officer where she leads the organization's impact litigation and policy efforts.

Jake Chervinsky recently joined Variant as Chief Legal Officer, where he leads the firm's legal team, and works closely with portfolio founders to overcome the regulatory hurdles holding them back. He’s a board member for the DeFi Education Fund.

Show highlights:

[1:32] Roman Storm and Tornado Cash

[10:53] The role of the DEF in matters like this

[13:31] Three theories of criminal liability for software developers

[18:50] Why the government brought this case

[22:18] Terminology: Property interests, possession, control

[23:07] The future of this case

& much more.

Mentioned: Cravath paper on control.

Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Co-founded by longtime cryptolawyers Gabriel Shapiro and Alex Golubitsky, the mission of MetaLeX (which means beyond law) is to combine legal structures and autonomous tech to create best-in-class solutions serving DAOs, devs, and internet denizens with a suite of interoperable autonomous law solutions, which they refer to as MetaLeX OS.

The goal is a bold one: Separate law from nation-states in a manner similar to how Bitcoin separates money and Ethereum finance from nation-states.

[1:14] What is MetaLeX?[6:16] BORGs, explained.[8:12] BORG vs. DAOs.[15:55] Cybernetic law.[25:36] Expecting the law to act in appropriate, equitable manner.[31:36] Autonomous code and the future.[35:36] What is "deal technology" an how is it used[42:15] Learnings from bridging the gap between the code and the law.& much more.



Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.

Stéphane Daniel (@stephdan_law) is a Partner at d&a partners, an independent law firm dedicated to tech and blockchain entrepreneurs in France and the EU. Stéphane advises high-tech firms with their structuring, fundraising, and M&A transactions. He was notably involved in the first legal structuring (under French law) of DAOs and regularly advises companies on equity, debt, token, or hybrid fundraising and M&A transactions involving blockchain companies.

Show highlights:

[4:01] Legal consequences of turning on UNI's fee switch

[15:02] A different approach: veCRV

[18:59] Examining the differences between the veCRV, CRV and UNI proposal

[32:22] The importance of decentralization under EU law

[36:50] What non-EU projects should know about MiCA

[40:38] Stephane's genesis block

[47:26] Habits and advice

Disclaimer: Jacob Robinson and his guests are not your lawyer. Nothing herein or mentioned on the Law of Code podcast should be construed as legal advice. The material published is intended for informational, educational, and entertainment purposes only. Please seek the advice of counsel, and do not apply any of the generalized material to your individual facts or circumstances without speaking to an attorney.