Gabriel Shapiro, partner at BSV Law (no relationship to the coin), joins the show to chat securities law, tokenized securities, and the nature of industry regulation. In this episode: 

• Gabriel's introduction to the crypto industry and Nick Szabo's influence
• Gabriel's view on what public blockchains are for, most fundamentally
• Why there is an inherent tension between blockchains and the law
• Can public blockchains be made compatible with the law, and to what extent?
• The best opportunities for synergy between the law and crypto
• Gabriel's case for real tokenized securities
• How stock certificates are held and organized in legacy markets
• Domains where tokenized securities could outperform the current state of affairs
• A mistake investors make when interpreting SEC behavior
• Why the SEC will often let private litigation play out before imposing a fine
• The contrast between the EOS/Block One and Sia/ Nebulous
• Gabriel's critique of Hester Pierce's safe harbor for tokens - and her response
• Precedents to consider when looking at the utility/security distinction
• Whether a "Hinman test" for sufficient decentralization exists and what it entails
• Gabriel's proposed modification to securities laws to suit the reality of the industry
• The effect of election outcomes on securities enforcement

Follow Gabriel on Twitter and read his fantastic series on Medium, Size Does Matter