BlockProf

When you hire Veritas Financial Analytics as your policy consultant, your enemies become my enemies. veritasanalytics.net

@TuongvyLe12 If anon tokens don’t vote they can’t be used to obtain control. And in any event anyone attempting a hostile takeover has 13D reporting obligations, company can sue. Lack of surveillance capability makes SEC’s job harder I’ll grant. I’m ok with that.

@theblockprof That still doesn’t address the issue of beneficial or controlling ownership. Public companies and shareholders need to know, for example, if someone is attempting a hostile takeover.

@TuongvyLe12 That’s a state corporate law issue that doesn’t need the SEC’s help. It can be fixed without surveillance by a modified token that limits dividends and voting rights that can trade in DeFi anonymously.

@theblockprof That wouldn’t necessarily determine identity. There’s also the issue of ownership - companies and shareholders need to know who has control or influence for governance and other reasons.

@TuongvyLe12 Subpoenas and warrants.

@theblockprof How would you go after insider trading, fraud, market manipulation, etc.?

Heading out to the airport to fly to Washington DC to give a very brief, 10-minute, talk about Zcash at the SEC. I’m grateful for the opportunity, but I’m already looking forward to being back home in Colorado.

@theblockprof Yeah but I just stop after step 3 now 😂

Don’t broadcast your public chain addresses to a CEX. Instead: 1. Buy ZEC on a CEX. 2. Send to Zashi wallet. 3. Hit “shield.” If you’re a ZEC maxi, stop here. Otherwise… 4. In Zashi’s “send” tab, choose your preferred crypto. 5. Send to a CEX-virgin addy. Easy peasy.

@summermersinger @BlockchainAssn @StarkWareLtd @AleoHQ @Zcash @zooko

2/ Proud that @BlockchainAssn members are leading this critical discussion at the SEC roundtable: @StarkWareLtd's Katherine Bos, @AleoHQ's Koh, and @zcash founder @zooko. These teams are proving that privacy and compliance do coexist while protecting an individual's right to be free from overbearing financial surveillance.

1/ Privacy is normal. It's a principle that should guide how we think about digital finance, not an exception our elected officials and regulators have to be grudgingly forced to accommodate. In that spirit, I’m excited to participate in the SEC's Crypto Task Force roundtable on Dec 15th on financial surveillance and privacy alongside leaders from across the digital assets industry. sec.gov/newsroom/meeti…

@HeatherReyhan Versace.

@theblockprof Fascinating find that totally makes sense. 🧠💜🧞‍♀️Thanks for sharing, Razzler! What’s your fav song so far? 🤔

@theblockprof This.

Bad faith that “compliant privacy” is a buzzword I don’t like? It true that I don’t like it. You are clearly doing a lot to try to thread the needle. I respect that. I remain concerned that at the intersection of TradFi and DeFi, compliance will spill over. I am concerned that embedded smart contract compliance is not the panacea that this new ZK compliance theme in crypto believes. Regulators overreach and compliance grows like a weed, regulators expectations about what smart contracts will be required to do will grow the same way. And I worry a lot of ZK compliance providers will not try to thread a needle as you are doing here.

A few points here in response: 1. The SEC isn't relevant for GENIUS since that's on stables. As a result, we don't talk about stables. We talk only about tokenized securities and verifying investor requirements 2. Our emphasis is on the use of zero knowledge proofs for this for privacy preserving purposes and how they can be used at the application level specifically for tokenized securities by regulated institutions 3. We explicitly have a slide on why DeFi should remain fully permissionless else it results in overregulation for non-regulated activity 4. Our presentation is not about adapted tokenized securities. It's about clearly categorized securities that are meant for accredited investors Sure groups can lobby for incorrect use but I think if we don't curtail that and explain where it should be actually used we'll lose the battle as a whole. I'm a bit surprised by your response since you are someone I respect and this feels in bad faith.

Nothing would stop SEC from permitting an adapted form of tokenized equity from living in DeFi KYC free. Nothing in Genius Act prohibits stables from being run through @RAILGUN_Project. ZK privacy compliance tools for regulated institution compliance is great. For individuals peer to peer, very scary. I fear ease of compliant privacy tools, particularly as ZK ID, will begin on TradFi side and infect DeFi, and ultimately will become the opposite of what they purport to be. And providers of those tools will be strongly tempted to lobby regulators to force their use crypto wide.

@theblockprof I mean if we’re talking about securities not really sure what else to do unless you’d recommend an alternative approach for regulated markets… The whole premise is how do you protect base layer neutrality and instead push compliance at the application layer

@LucasTodeschin2 What I want is tokenized equity that lives in DeFi in sovereign wallets KYC-free.

@theblockprof You dont need to buy tokenized stocks if you dont want to. Tokenizing stocks is a huge deal for Wall Street because now you have instant settlement, 24/7 worldwide trade and clary on who owns what. Tokenization also greatly reduce costs.

@JoeSaluzzi @taylorjbarr @JerryMoran

@taylorjbarr @JerryMoran I'll save you some time. They are all scams.

🚨NEW: Senator @JerryMoran has introduced a bill to establish a Task Force for Recognizing and Averting Cryptocurrency Scams

@dmartkc @SECPaulSAtkins It is indeed unfortunate that US Treasury is currently continuing the lawlessness of the Biden and Obama admins, I will agree with you there.

@SECPaulSAtkins @theblockprof A “Privacy Roundtable” hosted by an administration that’s expanding the surveillance state by the hour. americanprogress.org/article/the-tr…

Our Crypto Task Force will host a roundtable on Monday, Dec. 15 on policy matters related to financial surveillance and privacy. The event will be in-person and live-streamed on SEC.gov. We hope you’ll join us.

@sacha Gonna dress like this for SEC privacy roundtable Monday.

zatoshi

@xethalis @AlexanderGrieve

@AlexanderGrieve You are cherry picking Alex. Don’t focus on AASBI as a weak point. This letter was also signed by Committee to Preserve the Finger Lakes and even the Don’t Gas the Meadowlands Coalition, although the latter signed on only to oppose Fartcoin.

I’m feeling very protected as a consumer now that Animals Are Sentient Beings, Inc. has weighed in on crypto market structure legislation

I don’t think Ken Griffin likes me

@zooko @tyler @cameron Go get em!

I’m happy to report that I’ve been invited to join Cypherpunk as an advisor. I’m joining because I trust @Tyler and @cameron’s intentions: empower people to control their own money (Zcash). ⤵️ x.com/cypherpunktech…

Just gonna call out the fact that Citadel Securities have lost their past two GCs to… crypto companies!

@austincampbell Just raising the alarm brother. Been fighting Citadel’s bs in comment letter wars for ten years now.

Wait, the firm that benefits most from payment for order flow is opposed to market structure reform and transparency? Why could that be, I wonder?