Jacob Robinson
@JacobRobinsonJD • 8,221 subscribers
building @LawofCodeFM to help you understand the legal layer of tech
Videos
Should code ever lose First Amendment protections? This podcast covers free speech and software, including cryptography, cryptocurrency and AI. It should be the internet's most comprehensive. You'll hear from experts like Peter Van Valkenburgh, Preston Byrne, Laz, Sam Enzer, and Professors Eugene Volokh (Volokh Conspiracy) and Jane Bambauer. We trace the history of Cold War export controls through to the recent restrictions on Anthropic's AI models, and explain why the Supreme Court has never definitively answered the question above. Timestamps: 0:00 Anthropic AI export controls 6:17 Intro 9:39 The First Amendment 10:38 Volokh Conspiracy on his free speech philosophy 13:42 Speech vs function 19:24 Peter Van Valkenburgh interview 25:50 The Cold War, munitions list and Phil Zimmermann 29:57 The Bernstein case 34:53 Strict scrutiny 38:48 The Corley case 49:17 Sorrell, Stevens and where the Supreme Court is heading 53:25 Preston Byrne on the Supreme Court's AI case 57:23 Defense Distributed and 3D-printing 1:04:00 Where publication ends and conduct begins 1:15:20 Lowe v. SEC and the agency line 1:45:45 Compelled speech 2:04:17 Laz on Sorrell and third-party liability 2:11:29 Preston Byrne on the GRANITE Act and foreign censorship Thank you to the presenting sponsor of this episode, Altitude. Nothing in this podcast is legal or investment advice.
Jacob Robinson59,023 Aufrufe • vor 13 Tagen
Over a trillion dollars worth of perps are traded every month, yet 99% people have never heard of them. This Law of Code episode is a multi-hour deep dive on perps, starting from the history of grain futures in Chicago to Friday's historic CFTC announcements. It took me months to put this together. My goal: the internet's most comprehensive explainer on perps. You'll hear from the world's leading experts on the legal layer of perps; Jake Chervinsky and Brad Bourque of Hyperliquid Policy Center, Brett Harrison of Architect, Katherine Kirkpatrick Bos, Ryne Miller 🇺🇸, Mike Frisch and David Shafer of Coinbase 🛡️. By the end of this episode, I promise you'll be in the top percentile for understanding perps, regardless of where you're starting from. (You just might need to listen twice. There's a lot here.) Timestamps: 0:00 Intro 4:04 What is a perp Brett Harrison 7:18 Why futures contracts exist 8:15 Liquidity fragmentation 11:01 History of U.S. futures Ryne Miller 🇺🇸 17:08 Richard Nixon, the gold standard and financial futures 21:27 Birth of the CFTC 24:27 Robert Shiller's 1992 paper Katherine Kirkpatrick Bos 30:09 Price convergence 32:00 The funding rate 43:41 Oracles and manipulation risk 47:39 Are perps swaps or futures? 52:44 A Mike Selig clip on perps 54:02 The DCM framework 59:16 DCMs, DCOs and FCMs explained 1:04:55 History of crypto perps (BitMEX) 1:13:00 How Hyperliquid works 1:25:41 CFTC's historic announcements on May 29, 2026 1:35:00 Fireside with Jake Chervinsky and Brad Bourque of Hyperliquid Policy Center Nothing in this podcast is legal or investment advice.
Jacob Robinson154,217 Aufrufe • vor 1 Monat
Prediction markets are a (poorly understood) multi-billion dollar industry. This Law of Code episode is a multi-hour deep dive on prediction markets, from conclave betting in 15th century Rome to proposed rulemaking from the CFTC earlier this month. My goal: the internet's most comprehensive explainer on prediction markets. I spent several months and over 100 hours on this podcast, and spoke to the world's leading experts on the legal layer of prediction markets: robertjdenault, Daniel Wallach, Stefan Schropp, Sam Enzer, Paul Grewal, Brad Bourque, Thania Charmani, Michael Passalacqua, Joshua Sterling, Jeff Amico, as well as Koleman Strumpf, Matt Kalish, with clips from prior conversations with Chris Giancarlo, Dustin Gouker. By the end of this episode, I promise you'll be in the top percentile for understanding prediction markets, regardless of your starting point. (You just might want to listen twice. There's a lot here.) 0:00 Intro 1:40 16th century papal betting Koleman Strumpf 11:13 Insider trading rules robertjdenault 16:20 The Google insider case 27:38 Why prediction markets matter Chris Giancarlo 33:20 Election betting in America 44:50 Iowa Electronic Markets 52:11 Dodd-Frank, swaps and the Special Rule 54:23 Senator Lincoln on sports contracts 1:02:04 Parlays as swaps 1:07:38 CFTC's exclusive jurisdiction Thania Charmani 1:13:45 Perspective on CFTC's NPRM Michael Passalacqua 1:21:10 Exceptions that swallow the rule Paul Grewal 1:33:40 How prediction markets actually work 1:42:20 Kalshi's fee structure 1:44:33 Cardi B and the resolution problem Dustin Gouker 1:51:20 Polymarket's decentralized resolution Jeff Amico 1:58:10 The Ninth Circuit case 2:14:04 CFTC's proposed rulemaking Brad Bourque, Stefan Schropp 2:25:21 Kalshi's landmark 2024 win 2:29:20 PASPA, Murphy v. NCAA Daniel Wallach 2:51:29 The case against banning prediction markets robertjdenault Nothing in this podcast is legal or investment advice. Thank you to the sponsors of this episode, Cahill Gordon & Reindel LLP (Lewis Cohen), Hyperliquid Policy Center and .
Jacob Robinson54,159 Aufrufe • vor 27 Tagen
Everyone in crypto should understand money transmission laws. This Law of Code podcast explains the history of money transmission, how rules are being (mis)applied, and what might change with draft legislation. Featured: Peter Van Valkenburgh, Amanda Tuminelli, Brian Klein and a snippet from Jake Chervinsky. This is the most comprehensive podcast I've ever done. Welcome to Law of Code, Season 2. Timestamps: 0:00 Intro 3:18 What's at stake? 4:40 Which developers are at risk 6:03 Custodial vs. non-custodial 9:32 What is a money transmission license? 9:47 Steamships, the telegraph & Western Union 12:14 The Bank Secrecy Act 13:38 Section 1960 15:26 The Patriot Act 19:39 FinCEN's 2013 and 2019 guidance 24:42 OFAC sanctions Tornado Cash 27:30 How Tornado Cash works 30:48 Coin Center v. Yellen 32:24 DOJ indicts Roman Storm 🇺🇸 🌪️, Roman Semenov 🌪️, Tor Ekeland's client & Samourai Wallet devs 35:15 The Van Loon win prestonvanloon.eth 40:33 Developer losses 43:48 Bad facts make bad law 48:46 Brian Klein on Roman Storm 🇺🇸 🌪️'s case 50:50 The Brady letter 57:00 Michael Lewellen sues for answers 1:09:24 The Blanche memo 1:18:46 The Galeotti speech 1:26:13 Catch-22 for developers 1:30:03 The chilling effect DeFi Education Fund Jake Chervinsky 1:33:48 Blockchain Regulatory Certainty Act 1:38:03 Promoting Innovation in Blockchain Development Act 1:45:28 What's next? Nothing in this podcast is legal or investment advice.
Jacob Robinson138,330 Aufrufe • vor 2 Monaten
What is the CLARITY Act? How does it protect the 70 million Americans who hold crypto? What does it change about how projects operate? This Law of Code podcast explains the history of U.S. digital asset regulation, why regulation-by-enforcement failed and what CLARITY solves, plus remaining steps for this to become law. Featured: Lewis Cohen, miles jennings, Sarah Brennan, Kyle Bligen, Miller, Dugan Bliss and snippets from Bill Hughes, Gerald Gallagher. By the end of this episode, I promise you'll be in the 99th percentile for understanding the CLARITY Act, regardless of whether you're a lawyer, builder or operator. Timestamps: 0:00 Intro 4:46 Explaining market structure 6:05 miles jennings on regulatory distortion 10:43 Predecessor bills (RFIA, FIT21) 13:35 Senate Banking markup takeaways Miller 15:46 SEC & CFTC 20:37 The Securities Act of 1933 23:07 The Howey Test 25:26 Lewis Cohen's Ineluctable Modality of Securities Law 28:51 SEC enforcement 32:32 Why SEC rulemaking isn't enough 37:36 Titles of CLARITY 40:00 Digital commodities 47:29 Howey principles Lewis Cohen 54:10 Promoters: originators 58:18 Promoters: related persons 1:04:13 Token taxonomy miles jennings 1:11:02 Ancillary asset requirements 1:19:34 The certification process 1:28:32 Remaining hurdles for CLARITY 1:34:50 Stablecoin yield 1:38:45 Ethics Kyle Bligen 1:45:50 Tax consequences CryptoTaxGuy 1:48:54 Thanking people working on the bill, such as Senator Cynthia Lummis, Sen. Kirsten Gillibrand, Senator Tim Scott, Senator Bill Hagerty, Senator Thom Tillis, Mark Warner, Senator Ruben Gallego, f , their staffs & many, many others. Nothing in this podcast is legal or investment advice.
Jacob Robinson68,775 Aufrufe • vor 2 Monaten
My conversation with Austin Campbell (Austin Campbell) on when Circle must freeze USDC and why they probably should've after the Drift exploit. 0:00 Intro 2:00 Freeze of USDC in 16 wallets 4:31 How bank freezes work 7:27 Circle's obligation to freeze 9:40 Does Circle's terms of service even apply? 11:24 The privity problem 13:20 The five-piece legal framework that functions like a safe harbor for institutions freezing assets 16:43 DeFi's second-order exposure to asset freezes 18:29 Can DeFi adapt? 21:03 Circle's response to the Drift exploit 22:34 DeFi and the legal system 24:27 Bitcoin as an alternative 28:18 Why people like intermediaries 31:04 The Drift exploit: why Circle should have frozen USDC 36:34 The difficult line between exploit and protocol use 38:27 Real world assets on chain: the DeFi trilemma Includes paid partnership with our sponsor, Day One Law. Nothing in this podcast is legal or investment advice.
Jacob Robinson22,912 Aufrufe • vor 3 Monaten
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