Lawson Baker, head of operations and general counsel at TokenSoft (disclosure: a previous sponsor of the podcast), explains the significance of this week's SEC statement on broker-dealer custody if digital asset securities, what issues it outlines, what problems remain to be resolved, what impact it could have on the overall industry — and why this, and other regulatory guidance, could push the industry in a more cypherpunk direction. Plus, we discuss Blockstack's Reg A+ initial coin offering, which was finally approved by the SEC, whether it's too onerous for startups and how this will affect the initial coin offering phenomenon. And finally, we talk about what we'll be watching out for in next week's Senate and House hearings on Facebook's Libra, and what the odds are that the regulators quash the project. Don't forget about the Crypto weekend retreat at Omega Institute: Sign up here!  https://www.eomega.org/workshops/virtues-of-the-crypto-revolution Thank you to our sponsors! Crypto.com: https://crypto.com/ CipherTrace: http://ciphertrace.com/unconfirmed Episode links: Lawson Baker: https://twitter.com/lwsnbaker TokenSoft: https://www.tokensoft.io/ SEC statement on broker-dealer custody of digital asset securities: https://www.sec.gov/news/public-statement/joint-staff-statement-broker-dealer-custody-digital-asset-securities Blockstack's Reg A+ offering approved: https://www.wsj.com/articles/sec-clears-blockstack-to-hold-first-regulated-token-offering-11562794848 Details on Blockstack's token sale: https://blog.blockstack.org/blockstack-sec-qualified-token-sale-open/ Fed raises concerns about Libra: https://www.nytimes.com/2019/07/10/technology/fed-chair-facebook-cryptocurrency-libra.html Unconfirmed episode with Dante Disparte, head of policy and communications for Libra: https://unchainedpodcast.com/libras-dante-disparte-on-why-we-should-trust-a-financial-system-designed-by-facebook/ Unconfirmed episode with Michael Casey on why it would be good if Libra rivaled the US dollar: https://unchainedpodcast.com/why-it-would-be-good-if-libra-rivaled-the-us-dollar/