Stephen Palley, partner at Anderson Kill, discusses a few hot-button crypto regulatory issues like lending products, whether DeFi protocols fall under the SEC’s purview, and more. Show highlights:

why Stephen thinks the SEC and CFTC did not announce more extensive crypto enforcement news this week
what areas the SEC Chair Gary Gensler and the SEC as a whole are focused on regulating
what Stephen has heard about whether stablecoins that are not fully-backed are securities
why Coinbase decided to drop its Lend product
why Stephen is skeptical that decentralized protocols should be regulated under existing securities laws
how securities law is contrary to consumer protection in light of DeFi protocols and airdrops
why DeFi AMMs should be regulated differently than centralized market books
whether companies running a front-end for a DeFi protocol should be considered an exchange
why crypto devs are “going Satoshi” because of US securities laws