DEX in the City: Class Actions in Crypto Are on the Rise. Are They More Dangerous Than SEC Enforcement?- Ep. 968

Vy

I think too, like, for many years, SEC, CFTC enforcement actions, DOJ actions were sort of existential for the industry, but class actions in some ways can be even more dangerous.

Jessi

It just seems like crypto is just rediscovering all the problems that gambling regulators dealt with eighty years ago.

Vy

Decades ago.

Jessi

Like, when it's just like, let's smush every issue like odds manipulation, house first player conflict, addiction risk, deceptive marketing. It's like every single issue that's been brought in gambling cases over the past, I don't know, how many years? Eighty, a hundred years? Like, he's been this complaint. And it really gets down to the question that you identified earlier is, like, is this sports gambling or not?

Katherine

Crypto cases are actually really, really hard to try in front of juries. But when you have a jury involved, you need to break all of this down into English in that the jury will understand. And, I mean, juries most average people are not gonna understand prediction markets or crypto or the kind of things that we're talking about on a day to day basis. Hi all, and welcome to Dex in the City where the wallets are cold and the takes are hot. First, we have Jesse, Web three prosecutor turned Web three protector at Rivet Capital.

Jessi

Hi, everyone.

Katherine

And then we have V from the SEC to Web three. Hey. And I'm your host, Katherine or KKV or KK, Fluent and TradFi, and conversing in deep tech over

Vy

at

Katherine

StarkWare. We are gonna dig in. But before we get started, here's a word from our sponsors that make this show possible.

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