The Bill that Legalizes Web3 (feat. OG Crypto Lawyer Stephen Galebach)

On this extra special episode, the boys are joined by Stephen Galebach, an expert on cryptocurrency law, to discuss the immense implications of the El Salvador digital asset law recently proposed by President Bukele to the Legislative Assembly. Galebach was directly involved in the creation of the El Salvador DAO law, and his vast experience includes the Reagan administration Justice Department and the Wild West ICO days of 2017. Together, he and the boys discuss international business jurisdiction, Tornado Cash, the practicalities of incorporating a business abroad, and much more.

This episode is a MUST LISTEN for ANYONE involved in the crypto industry, from founders to traders, with vital information on how to keep your assets safe.

Disclaimer: This is NOT legal advice.

Timestamps:

• 0:00—Intro

• 1:49—The long legal career of S. Galebach esq.

• 3:56—ICOs, the SEC, tokens, and the Howie Test

• 12:29—Are "utility" tokens securities?'

• 16:10—The hostile U.S. regulatory environment

• 20:23—Non-U.S. jurisdictions friendly to crypto

• 28:16—The history of the El Slavador Digital Asset Law

• 34:18—What is covered by the El Salvador law?

• 38:51—Setting up a corporation in El Salvador

• 41:01—What are the implications of treating tokens as securities (or not)?

• 50:20—U.S. enforcement of crypto law and Tornado Cash arrests

• 52:38—Decreased crime in El Salvador

• 55:46—How easy is it for Americans to get legal protections in El Salvador?

• 58;56—Will other countries copy El Salvador's success?

• 1:00:29—Sustainable national crypto enthusiasm

• 1:04:43—A quick deviation to SBF and FTX

• 1:07:07—Practical steps for people interested in doing crypto business in El Salvador

• 1:09:10—Wrapping up

Connect:

• ~bichul-ritsen (@bichulR)

• ~timluc-miptev (@basileSportif)

• ~nilrun-mardux (@AlephDAO)

• Stephen Galebach (steve@galebachlaw.com)

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