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Mel Zhou

Web3 draws a beautiful vision of how the new internet should be. The overturn of hierarchy, the rebalanced dynamic between convenience and control, the dismantling of surveillance capitalism. Though web3 laid a solid ground for decentralized storage, the system is also flawed and immature, with scattered, static data laying throughout the network. In real life, various identity data are generated simultaneously around the world, which might seem irrelevant and disparate, but as well complicatedly intertwined and when gathered could be of great use.

To curb this challenge, Litentry is providing an interchangeable tool of identity data. As a decentralized identity…

After decades of suppression and neglect, psychedelics are having a renaissance. In the 1950s, Psychedelic was actively researched by scientists, hoping to find the neurochemical basis of mental disorders previously believed to be psychological in origin or treat a variety of disorders. Because psychedelic can’t be patented, most of the researches were funded by the government or public institutions rather than private companies. By the end of the 1960s, the dark side of psychedelics began to receive tremendous amounts of publicity and the exuberance surrounding these new drugs gave way to moral panic. Since then, psychedelic drugs were outlawed and…

This episode is definitely the most controversial and insightful in Season 5. In this article, I try to do some legal analysis of the schemes that I found intriguing in this show. This is NOT legal advice.

Data Privacy

The most incisive parts of the show follow the ways in which Smithereen’s vast data-mining operation envelops Chris as the company tries to figure out what he really wants from Bauer.

Privacy. Something you feel right about but your legs walk in a different direction. People like to complain about privacy and the commercialization of data, but it’s very difficult for them to…

The SEC just released a framework for “Investment Contract: Analysis of Digital Assets.” The framework covers the SEC’s perspectives on whether a cryptocurrency is a security. For the past few years, the SEC has been very open and supportive to the blockchain industry (unless you did something obviously wrong), and the content of the framework may not seem new to many of us.

I’m self-digesting and reading other opinions on Twitter/Medium.

First things first, the framework has no legally binding effect. The SEC said it themselves “it’s not a rule, regulation, or statement of the Commission.” Securities law depends on…

Though the idea of decentralized exchange (DEX) is nothing new, we’ve seen a wave of DEXs based on Ethereum crashing over the crypto shores in 2018. And as tons of DEXs are being launched with increasing ease and frequency, the regulator has a growing concern about the cryptocurrency Wild West and the semantics used to bolster it.

How are DEXs regulated? There are some major regulatory schemes that the U.S. regulator scrutinizes in — securities transaction, money transmission, and commodities and derivative trading. …

This article is for those who are doing blockchain startups and preparing ICOs, or for those prudent crypto investors who worry about regulatory compliance. If an ICO constitutes security offering, one must file with the SEC. However, the cost of producing the prospectus, registration materials, plus the cost of ongoing reporting obligations are so expensive that most startups may not be able to afford such expenses. If a cryptocurrency isn’t security, it could avoid the foregoing filing requirements.

So when is a cryptocurrency security? The answer has been vague, but the SEC has been working on applying the legal regime…

Congress has yet to authorize a system to regulate virtual currency. As the CFTC admitted, U.S. law does not provide for ‘direct comprehensive U.S. regulation of virtual currencies. To the contrary, a multi-regulatory approach is being used.

The CFTC, and other agencies, claim concurrent regulatory power over virtual currency in certain settings, but concede their jurisdiction is incomplete. Current law does not provide any U.S. Federal regulator with such regulatory oversight authority over spot virtual currency platforms not involving fraud operating in the United States or abroad. Roosevelt continued to regard the judicial system as an ineffective arena for controlling…

Mel Zhou

Cottagism, Surrealism, Strcuturism. Berkeley Law’19. https://melzhou.herokuapp.com/

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