The Crypto Legal Handbook contains more than 300 footnotes and resources to learn more about the topics discussed in the book. For ease of reference, links to the books, websites, and videos referenced in the book are provided below.

If you have additional resources you believe I should add, please email me at justin@TheCryptoLegalHandbook.com

Chapter 1 - Prerequisites to Becoming A Crypto Lawyer

3. Frank H. Easterbrook, "Cyberspace and the Law of the Horse," 1996 University of Chicago Legal Forum 207 (1996). [BOOK]

Chapter 2 - A Cyclone of Progress: Developing a Regulatory Perspective

5. Krugman, Paul. “Why Most Economists’ Predictions Are Wrong.” The Red Herring, June 1998.

6a. Bitcoin Obituaries; 6b. Collection of Paul Krugman’s thoughts on Bitcoin.

Chapter 3 - Thinking Beyond the Price

7. Kosseff, Jeff. The Twenty-Six Words That Created The Internet. Cornell University Press, 2018. [BOOK]

8. Gladstein, Alex. "Currency of Last Resort." Bitcoin Magazine, 4 May 2022.

9. “Ukrainian Flees to Poland with $2,000 in Bitcoin on USB Drive." CNBC, 23 Mar. 2022.

10. Gladstein, Alex. Check Your Financial Privilege. BTC Media, 2022. [BOOK]; 10b. AlexGladstein.com.

Chapter 4 - Bitcoin in Theory

12. Lopp, Jameson. "Nobody Understands Bitcoin (And That’s OK)." 11 Mar. 2017.

13. “The Best Explanation of Bitcoin You Will Ever Hear | PV Valkenburgh.” YouTube, Lets BCS, 20 July 2022.

14. Antonopoulos, Andreas. The Internet of Money: A Collection of Talks. Vol. 1–3, Merkle Bloom LLC, 2020. [BOOK]

15. “Introduction to Bitcoin: What Is Bitcoin and Why Does It Matter?” YouTube, Aantonop, 25 Sept. 2016.

16. Annotated Bitcoin Whitepaper.

17. Bitcoin Core.

19. "Bitcoin Q&A: Mining Incentives After 2140," YouTube, Aantonop, Nov. 19, 2019.

20. Nakamoto, Satoshi. "Bitcoin Open Source Implementation of P2P Currency." P2P Foundation: Forum, 11 Feb. 2009.

Supplemental Resources - Understanding Bitcoin

Supplemental Resources - Bitcoin’s Monetary Philosophy

Chapter 5 - The Genesis Block and Bitcoin’s Early History

22. Popper, Nathaniel. Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money. Harper, 2016. [BOOK]

23. “Watch GOP Senator and SEC Chair Spar over Definition of Bitcoin.” YouTube, CNET Highlights 16 Sept. 2022.

24. Hinman, William, Director, Division of Corporation Finance, SEC. "Digital Asset Transactions: When Howey Met Gary (Plastic)." 14 June 2018.

25. Champagne, Phil. The Book of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto. e53 Publishing, 2014. [BOOK].

26. Bier, Jonathan. The Blocksize War: The Battle Over Who Controls Bitcoin’s Protocol Rules. 2021. [BOOK]

SUPPLEMENTAL RESOURCES - Exploring Bitcoin’s Early History

Chapter 6 - Bitcoin in Practice

29. Econoalchemist. “Home Mining for Non-KYC Bitcoin.” BTB Blog, 18 Feb. 2022.

30. "LocalBitcoins Matching Exchange Cited by US in Bizlato Case to Close After 10 Years of Operation." Forbes, 9 Feb. 2023.

32. McGee, Suzanne, and Hannah Lang. The Decade-Long Journey to a US Spot Bitcoin ETF | Reuters, Reuters, 10 Jan. 2024.

34. “Ledger vs Trezor: Best Crypto Wallets?” YouTube, MoneyZG, 1 May 2023.

36. A Beautifully Designed Bitcoin & Lightning Wallet in One." YouTube, All Things Bitcoin.

37. A Practical Guide to Bitcoin Addresses.

38. “How Cryptocurrency Transactions Work - Blockchain Explorer Tutorial.” YouTube, Nugget’s News, 3 Oct. 2019.

40. “Will Bitcoin Fail to Scale?” YouTube, Aantonop, 2 Apr. 2016.

41. “Soft Fork vs Hard Fork in Crypto.” YouTube, Whiteboard Crypto, 11 Aug. 2021.

42. “Non-Technical: Lightning Network Explained.” YouTube, Aantonop, 30 July 2020.

44. “Jack Mallers vs the World.” YouTube, What Bitcoin Did, 2021.

45. Bitcoin is Speech: Notes Toward Developing the Conceptual Contours of Its Protection Under the First Amendment. Justin S. Wales and Richard J. Ovelmen, 74 U. Mia. L. Rev. 204 (2019).

SUPPLEMENTAL RESOURCES - Lightning Networks

Chapter 7 - From Global Ledger to World Computer

47. “Litecoin (LTC): A Beginner’s Guide to the Peer-to-Peer Cryptocurrency.” Cointelegraph.

48. NFTing. “History of Namecoin: A Token Forked from Bitcoin’s Blockchain.” Medium, 8 Nov. 2022.

49. “What Is Ripple: Overview, History and XRP Cryptocurrency.” Cointelegraph. 9 Mar. 2024.

50. Copeland, Tim. “A Brief History of Dogecoin.” The Block, 18 Sept. 2023.

51. Ethereum White Paper.

52.  “Remastering the Lion & the Shark: Bitcoin vs Ethereum: Divergent Evolution in Cryptocurrency.” YouTube, Aantonop, 7 Jan 2022.

53a. “What Is Ethereum Gas? (Examples + Easy Explanation).” YouTube, Whiteboard Crypto, 25 Apr. 2021; 53b. Ethereum.org/gas.

54. “Ethereum Merge - the Most Anticipated Event in Crypto Explained.” YouTube, Finematics 3 Aug. 2022.

55. “Breaking down the Bitcoin Energy Debate w/ Nic Carter (Castle Island).” YouTube, Coinbase, 27 Aug. 2022. .

56. “Vitalik Buterin Reveals Ethereum at Bitcoin Miami 2014.” YouTube, Ethereum 1 Feb. 2014.

58. “Marcobello, Mason. “What Are EIP and ERC and How Are They Connected?” CoinDesk, 11 May 2023.

59. “Due to SEC Inaction, Registration Is Not a Viable Path for Crypto Projects.” Paradigm Policy, 23 Mar. 2023.

60. “Lessons from Crypto Projects’ Failed Attempts to Register with the SEC.” Paradigm Policy, 23 Mar. 2023.

61. Accredited Investor Criteria.

62. Saft-project.org.

64. United States Securities and Exchange Commission. Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: The DAO. 25 July 2017.

65. Vitalik Buterin’s personal website.

67. Hinman, William, Director, Division of Corporation Finance, SEC. "Digital Asset Transactions: When Howey Met Gary (Plastic)." 14 June 2018.

68. April 2023 Testimony of Gary Gensler before the House Financial Services Committee.

SUPPLEMENTAL RESOURCES

Chapter 8 - Privacy Coins and Stablecoins

70a. SEC v. Bittrex Inc. No. 2:23-cv-00580, Complaint, DOC 1, pp. 37-40. WD Wash. 17 Apr. 2023. CourtListener; 70b. SEC v. Coinbase, Inc. No. 1:23-cv-04738, Complaint, Doc 1, pp. 73-76. SDNY. Filed 6 June 2023. CourtListener.

71. “Dash 101 - Why Do We Need Digital Cash?” YouTube, Dash, 23 Jan 2018.

72. “Get Started: What Is Monero?" Monero.

73a “Zcash 101" Z-Cash; 73b. “Zero Knowledge Proofs.” YouTube, Computational Thinking, 25 Oct. 2022.

74. “CIPHERTRACE Announces Monero Tracing Capabilities.” Ciphertrace, 4 Aug. 2021.

75. “Financial Criminals Target Fiat More than Crypto - Blog: UNIT21.” 15 Sept. 2023.

76. “Cross-Chain Investigations: Tracing Crypto across Blockchains.” YouTube, TRM Labs, 29 Nov. 2022.

77. “Alex Gladstein on the Importance of Stablecoins | E14.” YouTube, Kevin Rooke, 2022.

78. “What Is a Crypto Bridge? (Examples + Purpose for Blockchains).” YouTube, Whiteboard Crypto, 24 June 2021.

79. Campbell, Austin. “A Primer on Stablecoins.” Colossus.

80a. Carter, Nic. “Cryptodollars: The Story So Far.” Niccarter.info, Castle Island Ventures; 80b. “Nic Carter’s Bull Case for Stablecoins.” YouTube, Bankless, 16 Oct. 2023.

81a. USDC Terms and Conditions; 81b. USDT Policy.

82. “Tether Transparency: Reports.” Tether.

83. Lopatto, Elizabeth. “The Tether Controversy, Explained.” The Verge, 16 Aug. 2021.

84. “Attorney General James Ends Virtual Currency Trading Platform Bitfinex’s Illegal Activities in New York.” New York State Attorney General.

85.  “Release Number 8450-21 - CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5 Million.” CFTC.

86. Circle.com/usdc.

87a. Adams, Josh. “Binance Stablecoin BUSD Will Leave the Stage Just as Market Ticks Upward.” CCN, 30 Nov. 2023; 87b. “Notice Regarding Paxos-Issued BUSD.” Department of Financial Services, dfs.ny.gov/consumers/alerts/Paxos_and_Binance.

88a. Maker DAO Whitepaper; 88b. “Makerdao - Creation of Dai.” YouTube, Campbell Harvey, 17 Nov. 2021.  

89a. “What’s a Wrapped Token? | WBTC, Weth Explained.” YouTube, Whiteboard Crypto, 12 May 2022; 89b. SEC v. Terraform Labs Pte Ltd. No. 1:23-cv-01346, Memorandum & Opinion, Document #149 at 40 n. 10. Southern District of New York, Filed 28 Dec 2023. CourtListener.

90. H.R. 4766, Clarity for Payment Stablecoins Act, 25 Sept. 2023.

91. Gensler, Gary. "Prepared Remarks of Gary Gensler on Crypto Markets." Penn Law Capital Markets Association Annual Conference, 4 Apr. 2022.

92. SEC v. Terraform Labs Pte Ltd., No. 1:23-cv-01346, Memorandum & Opinion, Document #149. Southern District of New York, Filed 28 Dec 2023. CourtListener.

93a. SEC v. Binance Holdings Ltd., No. 1:23-cv-01599, Complaint, Document #1. District Court for the District of Columbia. Filed 5 June 2023. CourtListener; 93b. Wise, Aaron. “Explained: How Binance’s Stablecoin BUSD Can Be a Security.” Protos, 28 Nov. 2023.

SUPPLEMENTAL RESOURCES - Privacy Coins

SUPPLEMENTAL RESOURCES - Stablecoins

Chapter 9 - The Everything Machines and Decentralized Finance

95a. “What Is Cardano? ADA Explained with Animations.” YouTube, Whiteboard Crypto, 28 Aug. 2021; 95b. IOHK Research Library.

96a. "What is Algorand? ALGO Explained with Animations." YouTube, Whiteboard Crypto, 20 Nov. 2021; 96b. algorand.foundation/the-algo.

97a. “What is Solana? SOL Explained with Animations." YouTube, Whiteboard Crypto, 13 Sept. 2021; 97b. docs.solana.com/introduction.

98a. "What is Polkadot? DOT Explained with Animations." YouTube, Whiteboard Crypto, 18 Sept. 2021; 98b. “Polkadot Behind the Code.” YouTube, Polkadot, 26 May 2020.

99a. "What is the BNB? Binance Smart Chain Explained with Animations." YouTube, Whiteboard Crypto, 1 Oct. 2021; 99b. “A Beginner’s Guide to the BNB Chain: The Evolution of the Binance Smart Chain.” Cointelegraph.

100a. "What is the Avalanche Network? AVAX Explained with Animations." YouTube, Whiteboard Crypto, 4 Sept. 2021; 100b. academy.avax.network.

101. "What is Polygon (MATIC)? Explained with Animations." YouTube, Whiteboard Crypto, 9 Nov. 2021.

102. Hinman, William, Director, Division of Corporation Finance, SEC. "Digital Asset Transactions: When Howey Met Gary (Plastic)." 14 June 2018.

103a. “Metamask: Step-by-Step Guide to DEFI’s Best Wallet!!.” YouTube, Coin Bureau, 6 Mar. 2021; 103b. “Phantom Wallet: Beginner’s Crypto Guide!! Step-by-Step!!” YouTube, Coin Bureau, 12 Feb. 2022.

104a. “What Is a Dex? How a Decentralized Exchange Works.” YouTube, Whiteboard Crypto, 15 Aug. 2021; 104b. “What is an Automatic Market Maker? (Liquidity Pool Algorithm).” Youtube, Whiteboard Crypto, May 22, 2022.

105a. “What Is Uniswap? (Animated) Decentralized Exchange + Uni Token.” YouTube, Whiteboard Crypto, 1 May 2021; 105b. uniswap.org

106a. “What Is Sushiswap? (Animated) Sushi Token + Kashi + Miso Explained.” YouTube, Whiteboard Crypto, 22 June 2021; 106b. sushi.com.

107a. “What is Curve Finance? I'm earning 25% AND protecting against a crash.” YouTube, Whiteboard Crypto, 18 Aug 2021; 107b. curve.fi

108. jup.ag.

109. pancakeswap.finance.

110. “What Is AAVE? (Animated) Crypto Borrowing and Lending Explained.” YouTube, Whiteboard Crypto, 25 May 2021.

111. “Compound Finance DeFi Tutorial: How to Earn Interest on Your Crypto & $COMP Tokens.” Youtube, Whiteboard Crypto, 20 June 2020.

112. Risley v. Universal Navigation Inc. et al. No. 1:2022cv02780 - Document 90. Southern District of New York, 2023. Justia Law.

113. Mersinger, Summer. "Dissenting Statement of Commissioner Summer K. Mersinger Regarding Enforcement Actions Against: 1) Opyn, Inc.; 2) Deridex, Inc.; and 3) ZeroEx, Inc." Commodity Futures Trading Commission, 7 Sept. 2023.

SUPPLEMENTAL RESOURCES - DeFi

SUPPLEMENTAL RESOURCES - DAOs

Chapter 10 - The Department of Treasury

115. “Binance and CEO Plead Guilty to Federal Charges in $4B Resolution.” United States Department of Justice, 1 Dec. 2023.

116. United States v. Gratkowski, 964 F.3d 307 (5th Cir. 2020).

117. “Fin-2013-G001: Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies” FinCEN, 18 Mar. 2013.

118. In the Matter of Ripple Labs Inc. Number 2015-05, Assessment of Civil Money Penalty.

119. “FIN-2019-G001: Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currencies.” FinCEN, 19 May 2019.

120. Gruenstein, Benjamin, et al. “Assessing the Tornado Cash Indictment against FinCEN’s 2019 Guidance Applying Money Transmission Rules to Crypto Businesses.” NYU’s Program on Corporate Compliance and Enforcement, 26 Oct. 2023.

121. 31 CFR § 1010.410.

122. Van Valkenburgh, Peter. “The Long-Awaited FATF Crypto Guidance Is Not as Bad as It Could Have Been, but Still Flawed.” Coin Center, 28 Oct. 2021.

123. Coinbase.com/TravelRule.

124. “OFAC’s Tornado Cash Sanctions.” YouTube, Coin Center, 15 Aug. 2022.

SUPPLEMENTAL RESOURCES - BSA/Compliance

SUPPLEMENTAL RESOURCES - DeFi and Compliance

Chapter 11 - The States

126a. Lummis-Gillibrand Responsible Financial Innovation Act, S. 2281, 118th Cong. (2023); 126b. Financial Innovation and Technology for the 21st Century Act, H.R. 4763, 118th Cong. (2023).

128. State Licensing, NMLS Resource Ctr.

130. "State Regulators Roll Out One Company, One Exam for Nationwide Payments Firms." Conference of State Bank Supervisors, 15 Sept. 2020.

131. Certain Bitcoin Activity Subject To District Of Columbia Money Transmission Laws. 2022.

132. Money Transmitters, Idaho Dep’t Fin.

133a. "Regulated Financial Industries and Activities - Financial Regulation." Maryland Department of Labor; 133b. "MD Money Transmitter License New Application Checklist (Company)." NMLS Resource Center, 2023.

134. “Nevada Financial Institutions Division statement on regulation of cryptocurrency in Nevada.”

135. “General FAQs.” New Mexico Regulation & Licensing Department.

136. “Money Transmitter Frequently Asked Questions,” NC Office of the Comm’r of Banks.

137. “DFI Interpretive Guidance for Ohio Money Transmitters,” Ohio Dep’t of Com., Div. of Fin. Inst.

138. Cryptocurrency,” Or. Dep’t of Consumer & Bus. Serv., Div. of Fin. Reg.

139. “Rhode Island Currency Transmission Law Frequently Asked Questions.” R.I. Dept’t of Bus. Reg.

140. “Memorandum Re: Virtual Currency Transmission in South Dakota.”, S.D. Dep’t of Labor & Reg., Div. of Banking, 25 May 2019.

141. “Virtual Currency and Money Transmission Laws.” Wash. Dep’t of Fin. Inst, 13 May 2021.

142. “DBO Commissioner Owen Clarifies Coinbase Exchange’s Regulatory Status in California.” Cal. Dep’t of Fin. Protection & Innovation, 27 Jan 2015.

143. Cal. Digital Financial Assets Law, Cal. Fin. Code § 3101 et seq.

144. “Interim Regulatory Guidance – Cryptocurrency and the Colorado Money Transmitters Act.” Colo. Dep’t of Reg. Agencies, Div. of Banking 20 Sept. 2018.

145. “Hawai‘i Digital Currency Innovation Lab To Conclude.” Haw. Dep’t of Com. & Consumer Affairs, Div. of Fin. Inst., 26 Jan 2024.

146. “Digital Currency Regulatory Guidance.” Ill. Dep’t of Fin. & Prof’l Reg. 13 June 2017.

147. NMLS Resource Ctr., IN-DFI New Application Checklist.

148. “Regulatory Treatment of Virtual Currencies Under the Kansas Money Transmitter Act.” Kan. Off. of the St. Bank Comm’r, 18 May 2021.

149. “Opinion 2021-009: Licensing requirements for digital currency trading and custody services and certain liquidity services.” Mass. Exec. Off. of Econ. Dev., Div. of Banks, 2 Mar 2022.

150. “Guidance on the Minnesota Money Transmitters Act and Virtual Currency.” Minn. Dep’t of Com., Fin. Inst. Div., 20 Aug 2021.

151. N.H. Rev. Stat. § 399-G:3 (2022).

152. “Frequently Asked Questions – Non-Depository.” N.D. Dep’t of Fin. Inst..

153. ”Guidance for Virtual Currency Businesses.” Pa. Dep’t of Banking & Sec..

154. “Money Services FAQs.” S.C. Off. of the Att’y Gen., Money Serv. Div..

155. “Virtual Currency Statement of Policy.” Tenn. Dep’t of Fin. Inst..

156. Virginia Corporation Commission’s Archived Website.

157. “Seller of Checks.” Wis. Dep’t of Fin. Inst..

158. “Decentralized Autonomous Organization (DAO): Frequently Asked Questions.” Wyo. Sec. of St., Bus. Div.; 158b. Jennings, Miles, and David Kerr. “The Duna: An Oasis for Daos.” A16z Crypto, 8 Mar. 2024.

159. “Special Purpose Depository Institutions.” Wyo. Div. of Banking.

160. Shapiro, Gabriel, and Sydney Abualy. "Wyoming’s Legal DAO-Saster." 9 Apr. 2021.

161a. “Custodia Bank Loses Lawsuit Challenging Fed Rejection of Master Account Application,” CoinDesk, 29 Mar. 2024; 161b. Schwartz, Leo. “Custodia is leading a one-bank crypto crusade against the Fed and reviving claims of Operation Chokepoint 2.0.” Fortune Mag. 17 Jan. 2024.

162. NMLS Resource Ctr., AZ New Application Checklist.

163. NMLS Resource Ctr., DE Check Seller, New Application Checklist.

164. “Virtual Currency: What Consumers Need to Know.” Mich. Dep’t of Ins. & Fin. Serv..

165. Digital Assets.” Neb. Dep’t of Banking & Fin..

166. New Jersey Digital Asset and Blockchain Technology Act, S. 1756/A. 2371 (2022).

167. Tankersley, Kaimee. “Legal and Regulatory Developments Arising From the Growth of Cryptocurrency.” Okla. Bar Journal, Dec. 2018.

168. “Supervisory Memorandum – 1037, Regulatory Treatment of Virtual Currencies Under the Texas Money Services Act.” Tex. Dep’t of Banking 1 Apr. 2019.

169. Tex. Fin. Code § 160.001 et seq.

170a. “Superintendent Adrienne A. Harris Announces $100 Million Settlement with Coinbase, Inc. after DFS Investigation Finds Significant Failings in the Company’s Compliance Program.” N.Y. Dept’t of Fin. Serv. 4 Jan. 2023; 170b. DFS Superintendent Harris Announces $30 Million Penalty on Robinhood Crypto for Significant Anti-Money Laundering, Cybersecurity & Consumer Protection Violations.” N.Y. Dept’t of Fin. Serv., 2 Aug. 2022; 170c. “Superintendent Harris Announces $8 Million Penalty Against Genesis Global Trading, Inc. After DFS Investigation Finds Significant Failings in Anti-Money Laundering and Cybersecurity Programs.” N.Y. Dept’t of Fin. Serv., 12 Jan. 2024.

171. Mulvihill, Geoff. “Barney Frank coauthored the Dodd-Frank ‘too big to fail’ law. Now he says his bank’s failure was a message about ‘dealing with crypto.’” Fortune Mag., 13 Mar 2023.

172. “Attorney General James Proposes Nation-Leading Regulations on Cryptocurrency Industry.” N.Y. St. Att’y Gen., 5 May 2023.

173. “Industry Alert: Registration of Commodity Brokers-Dealers, Salespersons, and Investment Advisors Doing Business Relating to Virtual or “Crypto” Currency.” N.Y. St. Att’y Gen..

174. “Attorney General James Secures More Than $22 Million from Cryptocurrency Platform for Operating Illegally.” N.Y. St. Att’y Gen. 12 Dec. 2023.

175a. Lummis-Gillibrand Responsible Financial Innovation Act, S. 2281, 118th Cong. (2023); 175b. Financial Innovation and Technology for the 21st Century Act, H.R. 4763, 118th Cong. (2023).

Chapter 12 - The Commodity Futures Trading Commission

179. 7 U.S. Code § 1a(9).

180. “Why Trading Onions on Financial Markets Is Illegal.” YouTube, Half as Interesting, 27 Oct. 2020.

182. “Options | Introduction to Derivatives.” YouTube, Corporate Finance Institute, 10 June 2020.

183. “Swap Contracts | Introduction to Derivatives.” YouTube, Corporate Finance Institute, 24 June 2020.

184. In re BFXNA INC. d/b/a BITFINEX, CFTC Docket No. 16-19. 2 June 2016.

185. “Release Number 7654-17: CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange.” CFTC, 1 Dec. 2017.

186. “Written Testimony of Chairman J. Christopher Giancarlo before the Senate Banking Committee.” CFTC, 8 Feb. 2018.

187.  “Release Number 7820-18 - Court Denies Defendants’ Motion to Dismiss in Commodity Fraud Case Involving the Virtual Currency My Big Coin.” CFTC

189. 7 U.S. Code § 1a(19).

190. In re BFXNA INC. d/b/a BITFINEX, CFTC Docket No. 16-19. 2 June 2016.

191. “Release Number 8450-21: CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5 Million.” CFTC, 15 Oct. 2021.

192. “Release Number 8433-21: CFTC Imposes A $1.25 Million Penalty against Kraken for Offering Illegal Off-Exchange Digital Asset Trading and Failing to Register as Required.” CFTC, 28 Sept. 2021.

193. “Release Number 8825-23: Binance and Its CEO, Changpeng Zhao, Agree to Pay $2.85 Billion for Willfully Evading U.S. Law, Illegally Operating a Digital Asset Derivatives Exchange, and Other Violations.” CFTC, 21 Nov. 2023.

194. “Release Number 8450-21: CFTC Orders Tether and Bitfinex to Pay Fines Totaling $42.5 Million.” CFTC, 15 Oct. 2021.

195. “What Are Oracles in Crypto? (Animated).” YouTube, Whiteboard Crypto, 22 Sept. 2021.

196. “The Mango Markets Attacker on Whether His ‘Trade’ Was Ethical or Not - EP. 413.” YouTube, Unchained, 28 Oct. 2022.

197. “Release Number 8478-22: CFTC Orders Event-Based Binary Options Markets Operator to Pay $1.4 Million Penalty.” CFTC, 3 Jan. 2022.

198. “Release Number 8478-22: CFTC Issues Orders Against Operators of Three DeFi Protocols for Offering Illegal Digital Asset Derivatives Trading.” CFTC, 7 Sept. 2023.

199. Mersinger, Summer. "Dissenting Statement of Commissioner Summer K. Mersinger Regarding Enforcement Actions Against: 1) Opyn, Inc.; 2) Deridex, Inc.; and 3) ZeroEx, Inc." Commodity Futures Trading Commission, 7 Sept. 2023.

SUPPLEMENTAL RESOURCES

Chapter 13 - A Primer on Federal Securities Law

201. SEC.gov/Forms.

202. “Understanding Reg A, Reg CF, and Reg D in Syndication.” YouTube, Moschetti Syndication Law, 23 June 2023.

203. Exempt Offerings.

204. Accredited Investor Requirements.

205. Finra.org/about.

206. “Securities Trading Market Infrastructure.” YouTube, asymilate, 9 July 2012.

207a. “Staff Accounting Bulletin 121.” SEC, 24 Mar. 2022; 207b. Hamilton, Jesse. U.S. Lawmakers Seek to Overturn SEC’s Crypto Accounting Policy, CoinDesk, 8 Mar. 2024.

208. “Due to SEC Inaction, Registration Is Not a Viable Path for Crypto Projects.” Paradigm Policy. 23 Mar. 2023.

SUPPLEMENTAL RESOURCES

Chapter 14 - Investment Contracts

210a. Reves v. Ernst & Young, 494 U.S. 56 (1990); 210b. Davis, Peter. “The Limits of Applying Reves v. Ernst & Young to Defi and the Perils of Regulating Web3 by Enforcement.” JD Supra, 26 Jan. 2022.

212. SEC v. W.J. Howey Co., 328 U.S. 293 (1946).

213. Map of Circuit Courts of Appeal.

214. “What Is an Airdrop? How to Find Free Crypto & Why It’s Given.” YouTube, Whiteboard Crypto, 2 July 2021.

215. SEC v. Ripple Labs Inc., No. 1:20-cv-10832, Order on Motion for Summary Judgment, Doc 874. SDNY. 13 Jul. 2023. CourtListener.

216. In re Tomahawk Exploration LLC. File No. 3-18641. Order Instituting Administrative and Cease and Desist Proceedings, 14 Aug. 2018.

217. SEC v. SG Ltd., 265 F.3d 42 (1st Cir. 2001); Curran v. Merrill Lynch, 622 F.2d 216, 222 (6th Cir. 1980); Milnarik v. M-S Commodities, Inc., 457 F.2d 274 (7th Cir. 1972).

218. Revak v. SEC Realty Corp., 18 F.3d 81 (2d Cir. 1994); Salcer v. Merrill Lynch, 682 F.2d 459 (3d Cir. 1982); Teague v. Bakker, 35 F.3d 978 (4th Cir. 1994); SEC. v. Life Partners, 102 F.3d 587 (D.C. Circ).

219. Miller v. Cent. Chinchilla Grp., 494 F.2d 414 (8th Cir. 1974); McGill v. Am. Land & Exploration Co., 776 F.2d 923 (10th Cir. 1985).

220. Hocking v. Dubois, 839 F.2d 560 (9th Cir. 1988).

221. SEC v. Koscot Interplanetary, Inc., 497 F.2d 473 (5th Cir. 1974); Bonner v. City of Prichard, 661 F.2d 1206 (11th Cir. 1981).

222. Hinman, William, Director, Division of Corporation Finance, SEC. "Digital Asset Transactions: When Howey Met Gary (Plastic)." 14 June 2018.

223. State v. Robbins, 240 N.W. 456 (Minn. 1932); Cont’l Mktg. Corp. v. SEC, 387 F.2d 466 (10th Cir. 1967).

224. Glen-Arden Commodities, Inc. v. Costantino, 493 F.2d 1027 (2d Cir.1974).

225.  SEC v. Belmont-Reid, 794 F.2d 1388 (9th Cir. 1986).

SUPPLEMENTAL RESOURCES

Chapter 15 - The Securities and Exchange Commission

227. List of SEC enforcement actions.

228. SEC v. Shavers, No. 4:13-CV-416 (E.D. Tex. 2013).

229. In re Munchee Inc. File No. 3-18304. Order Instituting Cease-and-Desist Proceedings, 11 Dec. 2017.

230. “Two Celebrities Charged with Unlawfully Touting Coin Offerings.” SEC, 29 Nov. 2018.

231. Saft-Project.org.

232a. SEC v. Kik Interactive Inc., No. 1:2019-cv-05244, Opinion and Order on Motions For Summary Judgment, Doc 88. SDNY. 30 Sept. 2020. Justia; 232b. Miller, David. “Another Significant Cryptocurrency Decision: SEC v. Kik Interactive Inc. and Token Offerings under the Securities Laws: Insights: Greenberg Traurig LLP.” Greenberg Traurig, 6 Oct. 2020.  

233. “SEC Obtains Final Judgment Against Kik Interactive for Unregistered Offering.” SEC, 21 Oct. 2020.

234a. SEC v. Telegram Group Inc., No. 1:2019-cv-09439, Opinion and Order on Emergency Motion for Temporary Restraining Order, Doc 227. SDNY. 24 Mar. 2020. Justia; 234b. Miller, David. “SEC v. Telegram: A Groundbreaking Decision in Cryptocurrency Enforcement?” Greenberg Traurig, 1 Apr. 2020.

235. SEC’s Framework for 'Investment Contract' Analysis of Digital Assets.

236. Hinman, William, Director, Division of Corporation Finance, SEC. "Digital Asset Transactions: When Howey Met Gary (Plastic)." 14 June 2018.

237. Wilkins, Joseph. “SEC’s Gary Gensler Is Waging War against Crypto. Here’s a Look at How His Views on the Industry Have Evolved over the Years.” Business Insider, 3 Sept. 2023.

238a. SEC v. Ripple Labs Inc., No. 1:20-cv-10832, Order on Motion for Summary Judgment, Doc 874. SDNY. 13 Jul. 2023. CourtListener; 238b. Miller, David. “SEC v. Ripple Labs, Inc.: A Turning Point in Cryptocurrency Jurisprudence?” Greenberg Traurig, 17 July 2023.

239. Sandor, Krisztian. “The Fall of Terra: A Timeline of the Meteoric Rise and Crash of UST and Luna.” CoinDesk, 22 Dec. 2022.

241. “SEC Charges Samuel Bankman-Fried with Defrauding Investors in Crypto Asset Trading Platform FTX.” SEC, 13 Dec. 2022.

242. Faux, Zeke. Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall. Currency, 2023. [BOOK]

243. SEC v. Celsius Network Ltd., No. 1:23-cv-06005, Judgment, Doc 18. SDNY. 1 Nov. 2023. CourtListener.

244. “BlockFi Agrees to Pay $100 Million in Penalties and Pursue Registration of Its Crypto Lending Product.” SEC, 14 Feb. 2022.

245. Grayscale Investments, LLC v. SEC., No. 22-1142 (D.C. Cir. 2023).

246. “Unraveling Bitcoin’s Record-Breaking Spot ETFs with Eric Balchunas.” YouTube, Thinking Crypto, 28 Feb. 2024.

247a. Sigalos, MacKenzie. “SEC’s Gensler Says, ‘the Law Is Clear’ for Crypto Exchanges and That They Must Comply with Regulators.” CNBC, CNBC, 27 Apr. 2023; 247b. Khardori, Ankush. Gary Gensler on Meeting with SBF and His Crypto Crackdown, New York Magazine, 23 Feb. 2023.  

248. “Statement on the Denial of a Rulemaking Petition Submitted on Behalf of Coinbase Global, Inc.” SEC, 15 Dec. 2023.

249a. “Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities.” SEC, 30 May 2023; 249b. SEC v. Wahi, No. 2:22-cv-01009, Order on Motion for Default Judgment, Doc 119. District Court, W.D. Wash. 1 Mar. 2024. CourtListener.

250. “Crypto Asset Trading Platform Bittrex and Former CEO to Settle SEC Charges for Operating an Unregistered Exchange, Broker, and Clearing Agency.” SEC, 10 Aug. 2023.

251. SEC v. Coinbase Inc. Docket.

252. SEC v. Coinbase Inc. No. 1:23-cv-04738, Order on Motion for Judgment on the Pleadings, Doc 105. District Court, S.D.N.Y., 27 Mar. 2024. CourtListener.

253. SEC v. Binance Holdings Ltd. Docket.

254. SEC v. Payward Ventures d/b/a Kraken Docket.

255. “Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges.” SEC, 9 Feb. 2023.

SUPPLEMENTAL RESOURCES

Chapter 16 - NFTs and Web3

256. “Bitcoin Q&A: What Are Colored Coins?” YouTube, Aantonop, 2 Oct. 2019.    

257. Marcobello, Mason. CryptoPunks, CryptoCats and Cryptokitties: How They Started and How They’re Going, CoinDesk, 19 Aug. 2022.

258. Tran, Ki Chong. What Is ERC-721? The Ethereum NFT Token Standard, Decrypt, 13 Dec. 2022.

259. Nelson, Jason. What Are Ordinals? A Beginner’s Guide to Bitcoin Nfts, Decrypt, 8 Nov. 2023.

260. “Creating NFTs for Physical Products.” YouTube, Data Slayer, 29 Oct. 2022.

261. “What Are Nfts and How Can They Be Used in Decentralized Finance? Defi Explained.” YouTube, Finematics, 29 Sept. 2020.

262. Yuga Labs, Inc. v. Ripps, 2023 U.S. Dist. LEXIS 192487 (C.D. Cal. Oct. 25, 2023).

263. “A Survey of NFT Licenses: Facts & Fictions.” Galaxy.

264. Von Appen, Antonia. "The Legal Framework of Art Investments: The Applicability of EU and US Investor Protection Regulations to the Art Market." Ph.D. Thesis, Università Bocconi.

265. “SEC Charges LA-Based Media and Entertainment Co. Impact Theory for Unregistered Offering of NFTs.” SEC, 28 Aug. 2023.

266. Peirce, Hester, and Mark Uyede. “NFTs & the SEC: Statement on Impact Theory, LLC.” SEC, 28 Aug. 2023.

267. “SEC Charges Creator of Stoner Cats Web Series for Unregistered Offering of NFTs.” SEC, 13 Sept. 2023.

268. Peirce, Hester, and Mark Uyede. “Collecting Enforcement Actions: Statement on Stoner Cats 2, LLC.” SEC, 13 Sept. 2023.

269. Friel v. Dapper Labs, Inc., No. 1:2021-cv-05837, Doc 43 (S.D.N.Y. 2023), Order Denying Motion to Dismiss, Justia.

SUPPLEMENTAL RESOURCES - NFTs

SUPPLEMENTAL RESOURCES - Web3

CHAPTER 17 - Tax, International Considerations, and Other Legal Intrigue

271. “Frequently Asked Questions on Virtual Currency Transactions.” IRS.

272a. “Notice 2014-21: IRS Virtual Currency Guidance.” IRS, 2014; 272b. “Notice 2023-27: Treatment of Certain Nonfungible Tokens as Collectibles.” IRS, 21 Mar. 2023.

273. Goldstein, Ronald J. "Applicability of Section 1031 to Exchanges of Bitcoin (BTC) for Ether (ETH), Bitcoin for Litecoin (LTC), and Ether for Litecoin." IRS, 8 June 2021.

274. Zinda, Landon. “A Simple Legislative Fix to Complicated Tax Rules for Personal Cryptocurrency Transactions.” Coin Center, 2 Oct. 2023.

275. “Notice 2023-14: Gross Income.” IRS, 2023.

276. Taxpayers Should Continue to Report All Cryptocurrency, Digital Asset Income, IRS, 22 Jan. 2024.

277. “Rev. Rul. 2019-24: Gross Income.” IRS, 2019, irs.gov/pub/irs-drop/rr-19-24.pdf; Goldstein, Ronald J. "Bitcoin (BTC)/Bitcoin Cash (BCH) Hard Fork." 22 Mar. 2021. IRS.

278. Chason, Eric. “Cryptocurrency Hard Forks and Revenue Ruling 2019-24.” Wm. & Mary Law School Scholarship Repository, 2019.

279.  “Court Authorizes Service of John Doe Summons Seeking the Identities of U.S. Taxpayers Who Have Used Virtual Currency.” DOJ, 30 Nov. 2016.

280. Form 1040.

281. “Treasury and IRS Announce That Businesses Do Not Have to Report Certain Transactions Involving Digital Assets Until Regulations Are Issued.” IRS, 16 Jan. 2024.

282. Van Valkenburgh, Peter. “Treasury’s Proposed ‘broker’ Rules Expand Surveillance Well beyond a ‘Third Party Doctrine’ That’s Already Stretched Thin.” Coin Center, 14 Sept. 2023.

283. Williams v. Binance, No. 22-927 (2d Cir. 2024).

284. PwC. "Navigating the Global Crypto Landscape with PwC: 2024 Outlook." Dec. 2023.

CHAPTER 18 - Conclusion and a Plan for Keeping Up

CRYPTO TWITTER:

PODCASTS/YouTube Channels:

News Organization/Newsletters/Other Websites to Bookmark

If you have additional resources you believe I should add please email me at justin@TheCryptoLegalHandbook.com