DEX in the City: Will the CLARITY Act Pass? Three Crypto Lawyers Give Their Odds

As a new CLARITY Act draft dropped, KK, Vy, and guest Josh Riezman of GSR give their passage odds and explain the one developer protection provision that matters most.

Thanks to our sponsor!

Coinbase One

Get 20% off the first year of your Coinbase One annual plan

⁠coinbase.com/unchained⁠

A new draft of the CLARITY Act just landed — all 300-plus pages of it — and Katherine Kirkpatrick Bos, TuongVy Le, and guest Josh Riezman of GSR didn't wait to dig in. 

On this episode they break down the specific developer protection provision in the Blockchain Regulatory Certainty Act that introduces a specific intent standard for charging developers, debate passage odds, and explain why Circle releasing a token as a public company signals a real shift in how the SEC thinks about the security/token distinction. 

They also unpack Chair Atkins' remarks at the SEC's AI+ Expo — a speech Vy argues shows the SEC and Congress are now in lockstep on modernizing securities regulation for on-chain infrastructure — and why, for the first time, that infrastructure includes vaults.

Hosts:

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Katherine Kirkpatrick Bos⁠⁠⁠⁠⁠, General Counsel at StarkWare. Previously held senior legal roles across DeFi and centralized exchanges.

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TuongVy Le⁠⁠⁠⁠⁠⁠, General Counsel at Veda

Guest:

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Josh Riezman — Chief Legal and Strategy Officer, GSR

Timestamps

⚖️ 0:00 Intro — new CLARITY Act draft drops; why there’s still a lot of work to do

📜 5:27 Blockchain Regulatory Certainty Aact developer protections and why the “specific intent” standard is so important 

🏦 11:06 How TradFi actually feels about crypto market structure legislation

📊 14:45 What CLARITY must achieve: the US as the center for crypto innovation and the security/commodity line

🎰 18:11 Lightning round — passage odds: KK at 35%, Vy at 90%, Josh at 45%

🌸 21:32 Does the recent M&A wave, massive VC raises and Circle's Arc token presale mean it’s crypto spring?

💙 27:41 Coinbase: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained

📈 29:39 The least bearish bear market in history — RWA wave and institutional onchain demand

♀️ 33:41 The E11even controversy: ‘Maybe we should just not have strippers at official events.’

🎤 34:56 SEC Chair Paul Atkins'  speech recognizing that onchain infrastructure can achieve the same goals as TradFi rails 

📚 43:00 The education gap: most legislators still at Bitcoin-level crypto knowledge

🤖 46:46 AI good news: Redmod AI system may detect pancreatic cancer early

Learn more about your ad choices. Visit megaphone.fm/adchoices