Launching my new stablecoin consulting firm this week marks a pivotal and hugely transformative moment for me. After 4-plus years of showing up every day in this space, I have finally found my mission. While I love advising crypto startups—and will continue to provide those legal services—I firmly believe that fully-regulated stablecoins under the GENIUS Act are the biggest catalyst for mass adoption of crypto. But getting there is gonna require a massive campaign—a campaign to educate & empower non-crypto natives that there is now a cheaper, faster & more efficient way to move money around the world. So that’s my mission—to educate and advise consumers, businesses, fintechs, banks, states, & family offices about how to seize this opportunity and stop moving money at the speed of banks.

Trump WH has mostly delivered on their promise to crypto community. Thank you @BoHines for all your hard work. The continued prosecution against Roman and this odd request for new Patriot Act power are a notable exception. Patriot Act suggestion is a red line, we can’t go there.

Thank you to @paulbrigner (@ElectricCoinCo) and @JWVerret for drafts and input, and to @SethHertlein (@Ledger), @AlexBornstein3 (@ZcashFoundation), and @zooko (@ShieldedLabs) for reviews and support.

Today, we submitted a response to the @BankingGOP RFI on Digital Asset Market Structure, urging the protection of financial privacy in any regulatory framework. 🧵

Remember this when Roman Storm files post-trial motions or an appeal. The judge instructed the jury incorrectly on Section 1960, so they convicted him based on a misunderstanding of the law (that it covers non-custodial software developers; it does not). This is ripe for appeal.

The Goldilocks solution to market structure legislation is to build a concrete statutory exemption from SEC jurisdiction that leaves the SEC no discretion to backtrack. Then formalize the SEC’s unlimited discretion to create additional exemptions (which it already has.)

A major force behind the market structure bill is fear of "Gensler 2.0" if the SEC changes hands. Legislation now can protect the industry later. But it's pointless if it doesn't address DOJ. Without full developer protections and a Section 1960 fix, "Garland 2.0" will be fatal.

Hot take from my panel on decentralized AI at UC Berkeley: Your data is worthless. The idea that you'll get rich selling your data to train AI is a fantasy. The frontier is high-quality synthetic data, not your dumb tweets. Second hot take: the government censorship of AI has not started yet. It will come soon. And when it does, decentralized AI will matter in the same way that the rise of financial surveillance made Bitcoin matter. Spicy back and forth with @avichal and @FranklinBi 👇

Rereading this from @projectglitch_

I stand with @rstormsf, @semenov_roman_, and @alex_pertsev. Writing open source code is not a crime. Online financial privacy is not a crime. Creating permissionless software is not a crime.