The CryptoLaw Podcast: Episode 5
In today’s episode, your hosts, Roxana, Ramy, and Grant, along with this week’s guests (Olta Andoni, Wes Williams, and Benny Rozin) take a deeper dive into the often-misunderstood topic of stablecoins as well as coverage of news of the week.
Return of the (Un)Stablecoins
Our regular guest Benny drops some further knowledge about stablecoins. Between last week’s episode and and this, you now get to enjoy full coverage, from different types of stablecoins, the various use cases, how they are backed (fiat, crypto or maybe nothing at all? ?) and a fresh debate about whether stablecoins really serve a legitimate purpose.
We had lots of tricks and treats in the crypto news this past week, including:
Alibaba vs. Alibabacoin
Olta Andoni discusses the jurisdictional implications of the trademark dispute in Alibaba Group Holding vs. Alibabacoin Foundation. If you are a crypto- or blockchain-related business trying to evade the “long arm of U.S. law,” here’s the most important takeaway from Olta’s discussion:
If the court in this case considers … one email address associated with … only three transactions [is sufficient to grant U.S. jurisdiction], it’s not going to be hard for non-U.S. blockchain companies to be hailed into a United States court.
Bitcoin’s Status in China
A Chinese arbitrator recently classified Bitcoin as a commodity, which is certainly newsworthy but, as is often the case, its importance was grossly exaggerated in the crypto media. Here is one of the best explanations we’ve found (authored by Katherine Wu, one of the members of our Crypto Legal Group on Telegram) clarifying that while arbitrators don’t make the law, it’s a huge step into accepting Bitcoin as a legal payment in mainland China).
One of the most under-reported news stories of the past week was the bombshell article by Colin Faife at BREAKER demonstrating that over half of the major crypto news outlets will publish your sponsored article without indicating that it was sponsored. Some even went so far as to ask for MORE money to turn your sponsored article into an unsponsored one.
Bonus: You get to hear your usually mild-mannered hosts Roxana and Grant issue a string of expletives (bleeped so as to maintain our CLEAN rating of course) given their anger over this. ?
UPDATE: After we recorded this episode, the CEO of Cointelligence admitted his company’s inappropriate behavior, apologized for it and promised to take corrective action moving forward. We applaud him for practicing transparency.
Until next time!
The information presented in The CryptoLaw Podcast is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. It is not intended to be, and does not, constitute legal, financial, investment, trading, or any other advice. This podcast does not establish a lawyer-client relationship between you or anyone else, including any of the attorneys appearing on the podcast. All of the information presented is general in nature and is not specific to you or anyone else. Do not make any decision, legal, financial, investment, trading or otherwise, based on any of the information presented in this podcast without consulting a licensed attorney or professional financial advisor, as appropriate. You understand that you use or rely on any and all Information your hear on this podcast at your own risk.
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