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Podcast: Unchained
Episode: The Lummis/Gillibrand Crypto Bill: Is the 'Ancillary Token' Approach the Best Way?
Description: Lewis Cohen, lead attorney at DLx Law LLC, joins to discuss the recently proposed Lummis-Gillibrand bill, the Responsible Financial Innovation Act, which he helped shape. In this episode, we cover: how Lewis was impressed by Gillibrandâs and Lummisâs officesâ hard work and bipartisanship  how the bill creates a new definition for an âancillary assetâ with split oversight responsibilities between the CFTC and the SEC how the bill proposes a test of managerial centralization as a determinant of disclosure requirements for digital assets his response to criticism that the ancillary token approach is more complicated than need be and gives to...