# What's the Point of Securities Laws? with Mike Selig

*Author: Ryan Sean Adams, David Hoffman*
*Published: Jan 5, 2023*
*Source: https://www.bankless.com/whats-the-point-of-securities-laws-with-mike-selig*

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Yesterday, on the show we had lawyer Brian Frye, who gave us novel takes securities. You can find that episode [here](https://youtu.be/jo1ZuhuCVZE)

In today's episode, David continues down the securities rabbit hole with special guest Mike Selig. Mike is a crypto lawyer at Willkie Farr & Gallagher, former a regulator at the CFTC and a frequent contributor to Coindesk about the state of crypto regulation.

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### TIMESTAMPS
0:00 Intro

5:35 Mike's Background

6:55 Why Securities 

10:20 Investing Contract

13:00 Where's the Line?

20:11 Asset vs. Schemes

24:38 SEC Regulation

29:00 NFTs as Membership

36:48 2023 Regulation

42:51 SEC vs. CFTC

47:25 The Solution to Security Laws 

50:40 Centralization 

55:10 Current SEC Administration

1:01:30 Decentralization Theatre

1:04:50 Closing & Disclaimers

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#### RESOURCES
- Mike Selig
[https://mobile.twitter.com/mikeseligesq](https://mobile.twitter.com/mikeseligesq)