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VOICE ARCHIVE

Bill Hughes

@billhughesdc
20 posts
2025-11-26
Big reversal that goes against @Kalshi in Nevada on the topic of sports event contracts. The court initially said it was likely Kalshi was right on the law, and now the court says the opposite, in no small part because the court came down against @cryptocom in a case recently on
2025-11-26 View on X
Bloomberg

A US judge rules Kalshi's sports-betting contracts are subject to Nevada Gaming Commission enforcement; Kalshi argues they should be regulated only by the CFTC

and Congress Is Sitting on It X: Daniel Wallach / @wallachlegal : Nevada “suggested reasonable options to Kalshi to avoid the possibility of enforcement pending appeal, including t...

2025-11-11
Under the safe harbor that @SecScottBessent announces below, trusts may stake digital assets (on permissionless proof-of-stake networks) if they: 1) Hold only one digital asset type and cash; 2) Use a qualified custodian to manage keys and execute staking; 3) Maintain
2025-11-11 View on X
Decrypt

The US Treasury and IRS issue guidance allowing Wall Street crypto products to offer staking rewards under a new safe harbor, easing institutional participation

Sander Lutz / Decrypt :

2025-10-26
Congrats @MikeSeligEsq. You'll be of great service to your agency and the country at @CFTC . Your leadership at the @SECGov crypto task force will be missed.
2025-10-26 View on X
Bloomberg Law

President Trump picks Michael Selig, the chief counsel for the SEC's crypto task force, to chair the CFTC, amid a crypto push

market structure legislation needs to cross the finish line to deliver clear, workable rules for builders and consumers. Mike's leadership will be a major asset. Bill Hughes / @bil...

2025-10-25
Congrats @MikeSeligEsq. You'll be of great service to your agency and the country at @CFTC . Your leadership at the @SECGov crypto task force will be missed.
2025-10-25 View on X
Bloomberg Law

Source: President Trump has picked Michael Selig, the chief counsel for the SEC's crypto task force, to chair the CFTC, amid a crypto push

market structure legislation needs to cross the finish line to deliver clear, workable rules for builders and consumers. Mike's leadership will be a major asset. @perkinscr97 : Gre...

2024-11-27
BIG NEWS: Federal appeals court says Treasury overstepped its authority when sanctioning immutable smart contracts deployed by the @TornadoCash devs because they are NOT property of a foreign person or entity. “The immutable smart contracts at issue in this appeal are not [image]
2024-11-27 View on X
Cointelegraph

US appeals court: the OFAC exceeded its authority in sanctioning Tornado Cash's immutable smart contracts, as they aren't property because they cannot be owned

A US appeals court ruled the Treasury's OFAC “overstepped” when it sanctioned crypto mixer Tornado Cash's smart contracts.

2024-11-22
CFPB decides to leave crypto alone . . . for now. The CFPB's digital wallet rule - just now finalized - seeks to bring various popular fintech wallet offerings within the perimeter of the CFPB. Back in January 2024, @consensys and others in the blockchain space took the
2024-11-22 View on X
Bloomberg

The CFPB will supervise tech companies with digital wallets, like Apple Pay, Google Pay, and Venmo, with 50M+ annual transactions, treating them more like banks

the Biden/Warren crew just enacted this to stop @X from becoming a payments juggernaut. Wow, a whole new 259-page rule aimed at X...yet more lawfare against you.👊 (Congress can & p...

2024-09-13
The SEC's order says eToro US had around 240,000 customer accounts. To put that in perspective, @coinbase has over 100 million. $1.5 million is nothing. It's a departure fee for leaving the United States behind and focusing on international business.
2024-09-13 View on X
Bloomberg

eToro USA agrees to pay $1.5M and limit US user trading to Bitcoin, Bitcoin Cash, and Ether to settle SEC allegations that it operated as an unregistered broker

except Bitcoin, Bitcoin Cash, and Ether: https://www.sec.gov/... Adam Cochran / @adamscochran : 1/9 The SEC settlement with eToro seems super weird at first, and a bit alarming. Bu...

2024-07-17
This brief exchange between @pmarca and @bhorowitz captures how so many life long Democrats feel about the Biden Administration's patent hostility to the crypto industry. The assault on innovation is unprecedented and shocking. No collaboration to address obvious problems - [video]
2024-07-17 View on X
TechCrunch

On their podcast, Marc Andreessen and Ben Horowitz explain why they are backing Trump, say Trump is pro-crypto, Biden's overregulation harms startups, and more

Marc Andreessen, the co-founder of one of the most prominent venture capital firms in Silicon Valley, says he's been a Democrat most of his life.

2024-03-28
SDNY: Wallets are NOT brokers. @MetaMask [image]
2024-03-28 View on X
Reuters

A US judge rules that the SEC's lawsuit against Coinbase can proceed, but dismisses one claim that Coinbase acted as an unregistered broker via Coinbase Wallet

2024-02-02
Here is the Office of Management and Budget's approval of the EIA request to study electricity use by #Bitcoin miners on an “emergency” basis. EIA attests that this satisfies the requirements of such emergency approval. OMB notes that “EIA agrees to publish a notice in the...
2024-02-02 View on X
The Block

The US EIA plans to begin surveying crypto miners' electricity use next week; the EIA justified the emergency data collection by citing BTC's 50% price increase

2023-10-20
Glad to see @chainalysis correcting the record on crypto and terrorist financing in this blog post. The key points: 1) Terrorism financing is a very small portion of the already very small portion (0.24% of total volume in 2022) of cryptocurrency transaction volume that is...
2023-10-20 View on X
The Block

Chainalysis says some recent media reports about the supposed use of crypto by terrorist organizations might be overstating metrics and using “flawed analyses”

But It's Deadly Hannah Lang / Reuters : US lawmakers urge White House crack down on Hamas use of crypto after Israel attack Assad Jafri / CryptoSlate : Chainalysis says crypto usag...

Glad to see @chainalysis correcting the record on crypto and terrorist financing in this blog post. The key points: 1) Terrorism financing is a very small portion of the already very small portion (0.24% of total volume in 2022) of cryptocurrency transaction volume that is...
2023-10-20 View on X
CoinDesk

The US Treasury's FinCEN proposes labeling international crypto mixing as a “primary money laundering concern”, citing its use by Hamas and other illicit actors

Under pressure to address reports that Hamas and other terrorist groups are partially funded with crypto …

2023-10-19
Glad to see @chainalysis correcting the record on crypto and terrorist financing in this blog post. The key points: 1) Terrorism financing is a very small portion of the already very small portion (0.24% of total volume in 2022) of cryptocurrency transaction volume that is...
2023-10-19 View on X
The Block

Chainalysis says recent media reports about the supposed use of crypto by terrorist organizations might be overstating metrics and using “flawed analyses”

- Chainalysis said some recent reports about the supposed use of crypto by terrorist organizations might be overstating metrics and using “flawed analyses.”

2023-10-11
“Hamas stopped publishing its donation addresses to protect donors' anonymity after Israeli and U.S. investigators tracked the transactions on the blockchain—the public ledgers that collate data on all digital currency transactions.” https://www.wsj.com/...
2023-10-11 View on X
CNN

Letter: Thierry Breton warns Elon Musk that X could face penalties under the DSA for hosting “illegal content and disinformation” about the Israel-Hamas war

European officials warned X on Tuesday that the company formerly known as Twitter appears to have been hosting misinformation …

“Hamas stopped publishing its donation addresses to protect donors' anonymity after Israeli and U.S. investigators tracked the transactions on the blockchain—the public ledgers that collate data on all digital currency transactions.” https://www.wsj.com/...
2023-10-11 View on X
Wall Street Journal

Research: Palestinian Islamic Jihad-linked crypto wallets received ~$93M from August 2021 to June 2023; Hamas-linked ones received ~$41M over a similar period

whether those funds are in the form of fiat currency, gold, crypto or whatever. 1/3 @billhughesdc : “Hamas stopped publishing its donation addresses to protect donors' anonymity af...

2023-10-04
This is a satisfying statement from the court - the SEC's position in this motion (it's a pure question of law) is directly inconsistent with their position about the Howey test. Talking out of both sides of their mouth. Again. [image]
2023-10-04 View on X
CoinDesk

A US judge rejects the SEC's motion to file an interlocutory appeal against July 2023's Ripple ruling and sets an April 2024 trial date to resolve other issues

XRP rallied about 5% following the decision.  —  Register Now  —  A federal judge has rejected the U.S. Securities …

SEC served another L in the Ripple case. They can't appeal the decision until after a trial on remaining issues. [image]
2023-10-04 View on X
CoinDesk

A US judge rejects the SEC's motion to file an interlocutory appeal against July 2023's Ripple ruling and sets an April 2024 trial date to resolve other issues

XRP rallied about 5% following the decision.  —  Register Now  —  A federal judge has rejected the U.S. Securities …

2023-08-30
From @matt_levine's newsletter today covering Grayscale v. SEC. I think we all know it is really the latter, although not everyone needs to say that out loud. “One possible interpretation of this case is that the SEC's decision to block spot Bitcoin ETFs was unusually...
2023-08-30 View on X
CoinDesk

A US court rules that the SEC must review its rejection of Grayscale's bid to convert the Grayscale Bitcoin Trust into an ETF after approving two bitcoin ETPs

a federal appeals court one step removed from SCOTUS—with a remarkably unanimous decision from an ideologically diverse panel. The 3 judges ruled the SEC failed to adequately expla...

2023-07-15
Matt Levine is brilliant so I don't get why he doesn't seem to get the difference under securities law between an asset and the transaction through which that asset is offered. The question in SEC v. Ripple was whether the transactions were securities offerings, not whether the... [image]
2023-07-15 View on X
Bloomberg

The Ripple ruling implies securities laws protect only sophisticated investors, the opposite of the US stock market's rule, and seems likely to work out poorly

Crypto tokens are securities unless you are anonymously dumping them on retail investors. LinkedIn: Kelvin Low . Twitter: @smdiehl , @matt_levine , @exlawyernft , @ben_mckenzie , @...

2023-05-24
A report from @elliptic on crypto payments in fentanyl trafficking. I suspect it's info like this which is motivating Sen. Doc Marshall to support bad legislation that ultimately won't stop this sort of thing from happening. https://www.elliptic.co/...
2023-05-24 View on X
Wired

Elliptic: some Chinese chemical suppliers accept cryptocurrency for fentanyl ingredients and the majority use “three specific exchanges” based outside of China

And it's happening in plain sight.  —  Fentanyl has long been one of the most dangerous wares …