The Block Presents: DeFi and the Law

Business•October 15, 2020, 3:54PM EDT
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The Block Presents: DeFi and the Law

On Tuesday, October 13 The Block gathered a variety of legal experts to break down the legal and regulatory questions surrounding the decentralized finance (DeFi) space. 

Panelists included:

  • Stephen Palley, partner at Anderson Kill
  • Gabriel Shapiro, Belcher, Smolen & Van Loo LLP
  • Lewis Cohen, Co-founder of DLx Law
  • Ryne Miller, co-head of Sullivan & Cromwell’s Commodities, Futures & Derivatives group
  • Rebecca Rettig, partner at Manatt, Phelps & Phelps LLP
  • Sarah Shtylman, Perkins Coie

As the decentralized finance (DeFi) world continues to boom, regulatory questions have begun to loom over the space. The Block hosted a panel of thought-leading lawyers to touch on some of those questions in "DeFi and the Law: A round table discussion with crypto's leading lawyers."

In addition to distilling how the legal and regulatory world views developing definitions of words like "decentralized," the panel also touched on:

  • Why regulators are grappling with where to point the finger when it comes to decentralized projects
  • Why the Howey Test may not be enough to figure out what is and isn't a security
  • Where Automatic Market Makers like Uniswap may face more regulator scrutiny in their dealings
  • Why prediction markets are considered illegal and what that means for decentralized venues
  • What guidance from Bank Secrecy Act and Office of Foreign Assets Control means for DeFi
  • How governance tokens can be a money making solution but a slippery slope for compliance.

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