Law of Code

00:46:50

#211 - Is AI Distillation Illegal?

Law of Code ·

2026/10/04

Anthropic calls some AI distillation illicit. But is distillation illegal?The answer may depend less on what you do with AI outputs than on how you accessed them.This episode is a deep dive into how courts might rule. We cover X v. Bright Data, what OpenAI's and Anthropic's terms say about who owns AI outputs, why Anthropic's own fair use arguments could be turned against it and what the labs will likely do next.Thank you to the presenting sponsor of this episode, Altitude. Visit

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00:47:44

#210 - Cyber Letters of Marque

Law of Code ·

2026/09/22

Cybercrime costs Americans an estimated $200 billion a year, and AI is supercharging it. The U.S. government's newest response is one of the oldest tools in the Constitution, one Congress hasn't used since the War of 1812.This episode covers letters of marque and privateers: their role in the American Revolution, how prize courts and bonds kept privateers from becoming pirates, and the White House memo that trends toward implementing a modern version for cyberspace.Sponsors:This episode is

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01:59:38

#209 - Vaults

Law of Code ·

2026/09/08

Vaults might be finance's next trillion-dollar opportunity. But what are they? How do they work? What regulation might apply? You'll hear from the creator of crypto vaults, Andre Cronje (Flying Tulip, Yearn), alongside builders Adrian Cachinero Vasiljevic (Steakhouse Financial) and Charles St. Louis (Ethereum Foundation). You'll also hear from SEC Commissioner Hester Peirce and top lawyers Lewis Cohen (Cahill), Tuongvy Le (Veda Labs), Rodrigo Seira (Cooley) and Linda Jeng (Aave). Thank you to the

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00:42:29

Interview: SEC Commissioner Hester Peirce on Reg Crypto

Law of Code ·

2026/09/01

Commissioner Hester Peirce joins the podcast to discuss Regulation Crypto Assets, as well as secondary market trading, DePIN and vaults. If you haven't listened to the full Reg Crypto explainer, that's episode 207. This episode is presented by Altitude. Visit altitude.xyz/law to learn more about their financial operating system.Timestamps:0:00 Intro2:22 Secondary transactions3:23 Promises and representations5:05 Essential managerial efforts8:27 Regulatory arbitrage10:29 Form TR16:59 Existing

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00:22:17

Interview: The GRANITE Act, explained by Preston Byrne

Law of Code ·

2026/08/28

The GRANITE Act is a two-and-a-half-page bill designed to stop foreign governments from censoring Americans online. Preston Byrne, the Managing Partner at Byrne & Storm, has spent over a decade advising tech companies on free speech questions. His work was instrumental in the introduction of the GRANITE Act in the U.S. House of Representatives on August 27, 2026.Timestamps:0:00 Intro2:10 How foreign governments censor Americans3:34 The origins of sovereign immunity6:40 197 demands, 4

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01:28:36

#208 - Reg Crypto

Law of Code ·

2026/08/25

What is Regulation Crypto Assets? An SEC-led rule proposal that allows projects to raise capital in the U.S. by selling tokens. That's the short answer. The long answer is this podcast. By the end of this episode, you'll understand why these rules were needed, what they say and what could still be tweaked before they become law. This episode is presented by Altitude, visit ⁠altitude.xyz/law⁠ to learn more about their financial operating system. You'll hear from leading lawyers, almost

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01:13:22

Interview: OSC CEO Grant Vingoe for Crypto in Canada,...

Law of Code ·

2026/08/10

Grant Vingoe is the CEO of the Ontario Securities Commission, Canada's largest securities regulator.Grant explains Canada's approach to crypto and why he sees a careful, incremental approach as a strength.Law of Code is presented by Altitude, visit https://altitude.xyz/law to learn why.Timestamps:0:00 Intro0:55 From 30 years in New York to running the OSC5:49 How the CSA and Canada's provincial regulators fit together9:01 The crypto contract12:34 Grant's first exposure to crypto16:09

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00:59:54

#207 - Crypto in Canada

Law of Code ·

2026/08/10

How does Canada regulate crypto? This podcast answers that in less than 60 minutes. You'll hear from Grant Vingoe, CEO of the OSC, Eric Richmond, CEO of Coinbase Canada, the Bank of Canada's Anne Butler, McCarthy's Lori Stein, Osler's Matt Burgoyne, Evan Thomas, Dr. Ryan Clements of the ASC and Blair Wiley of Wealthsimple.Law of Code is presented by Altitude, visit ⁠https://altitude.xyz/law⁠ to learn why.Timestamps:0:00 Intro2:42 Tax4:53 AML Rules8:06 Securities12:00 Investment

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00:30:08

Interview: Legora's Kyle Poe on the Future of AI &...

Law of Code ·

2026/08/06

Kyle Poe is a former BigLaw partner and currently VP of Legal Innovation and Strategy at Legora, a legal AI startup valued at $5.6 billion.Kyle explains why he sees a generational reordering happening in the legal profession, how firms are best institutionalizing partner knowledge as IP, and where the moat exists for lawyers as AI grows in ubiquity. Law of Code is presented by Altitude, visit https://altitude.xyz/law to learn why.Timestamps:0:00 Intro0:56 The billable hour and the incentive problem

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01:31:53

#206 - How lawyers are using AI in 2026

Law of Code ·

2026/07/27

By the end of this episode, you'll understand how lawyers are actually AI maxxing in 2026, and how you can, too.Timestamps:0:00 Intro1:58 Why it's the best time to be a lawyer3:03 Hallucinations and cognitive surrender 5:33 Quality over efficiency8:13 Why AI upends legal work15:20 60% of contracts filed to EDGAR have mistakes20:04 How LLMs actually work25:59 Zero data retention, explained29:16 The privacy risk beyond training39:16 How to prompt 47:03 Michael Showalter's AI-native litigation

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02:00:48

#205 - Code & Free Speech

Law of Code ·

2026/07/13

When should software lose free speech protections?This podcast covers software and the First Amendment, tracing the history from Cold War export controls to recent restrictions on advanced AI models. My goal: the internet's most comprehensive explainer on speech and code, from cryptography to cryptocurrency to AI.In this episode, you'll hear from leading experts on the legal layer of software and free speech:Peter Van Valkenburgh, Executive Director at Coin CenterLaz Pieper, Director of

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02:55:47

#204 - Prediction Markets

Law of Code ·

2026/06/30

Prediction markets are a multi-billion dollar industry, led by companies like Kalshi and Polymarket. They are also controversial. Some want them banned and believe they are operating illegally, while others see them as invaluable truth-seeking markets.This podcast is a multi-hour deep dive on prediction markets, starting from conclave betting in 15th century Rome to the CFTC's proposed rulemaking on Rule 40.11 earlier this month.My goal: The internet's most comprehensive explainer on

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00:59:26

#203 - SEC Crypto Rulemaking

Law of Code ·

2026/06/15

How do regulators actually write the rules for crypto? SEC Commissioner Hester Peirce and Taylor Lindman, Chief Counsel of the SEC's Crypto Task Force, take us inside the process, recorded at the SEC offices in Washington, D.C.We cover CLARITY Act rulemaking, lessons from Dodd-Frank, principles-based regulation and navigating the risks of decentralized projects. If you want to understand how an agency like the SEC actually works, this episode is for you.Timestamps:0:00 Intro1:20 Commissioner

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02:13:32

#202 - Perps

Law of Code ·

2026/06/01

Over a trillion dollars worth of perps are traded every month, yet 99% people have never heard of them. Fewer understand how they work.This podcast is a multi-hour deep dive on perps, starting from the history of grain futures in Chicago to a historic CFTC announcement on Friday, May 29, 2026.My goal: The internet's most comprehensive explainer on perps.In this episode, you'll hear from the world's leading experts on the legal layer of perps: Hyperliquid Policy Center CEO Jake Chervinsky

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01:53:46

#201 - The CLARITY Act

Law of Code ·

2026/05/18

What is the CLARITY Act? Maybe the most important piece of financial legislation in a generation. This podcast explains the history of U.S. digital asset regulation, why regulation-by-enforcement failed and what the CLARITY Act addresses, plus remaining steps for this to become law.Guests:Lewis Cohen, Partner & Co-Chair of CahillNXT's Digital Assets & Emerging Technology practiceMiles Jennings, Head of Policy & General Counsel for a16z cryptoSarah Brennan, general counsel at Delphi

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01:49:26

#200 - Money Transmission & Developer Liability

Law of Code ·

2026/05/04

Can the U.S. government send a software developer to prison for writing and publishing code? That's the question at the center of the Tornado Cash and Samourai Wallet prosecutions, and every crypto founder, builder and investor should understand the answer.This deep-dive episode walks through the history of U.S. money transmission law, how the DOJ is applying it to non-custodial software developers, what the Roman Storm verdict actually means, and what new legislation could change in

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00:41:34

#186 - AI & Legal Privilege

Law of Code ·

2026/04/20

How does using AI change legal privilege? Should it? A deep dive into how AI changes legal privilege.Jacob Robinson is joined by Mike Katz, Partner at Manatt, Phelps & Phillips, LLP, for a deep dive on the legal framework governing legal privilege and AI chatbots like Claude and ChatGPT.Timestamps:➡️ 0:00 — Background➡️ 1:47 — What is attorney-client privilege?➡️ 2:44 — Policy reasons for narrowing privilege➡️ 3:30 — The Upjohn case (1981)➡️ 4:34 — Privilege vs. work product doctrine➡️ 5:17 —

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00:43:17

#185 - When Circle must freeze USDC (and when they...

Law of Code ·

2026/04/13

When does U.S. law require Circle to freeze USDC? It's a question many are asking after a series of wallets were frozen in connection to a sealed civil case, and again after Solana's Drift Protocol was drained of $285 million.Jacob Robinson is joined by Austin Campbell, founder of Zero Knowledge Consulting and adjunct professor at Columbia Business School, for a masterclass on the legal framework governing stablecoin freezes.Timestamps:➡️ 0:00 — Intro➡️ 2:00 — The March 2026 freeze of 16

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00:27:59

#184 - Transaction Denied: Rainey Reitman on...

Law of Code ·

2026/04/07

What are the risks of allowing financial institutions to cut off access to the economy for lawful but controversial activity?Rainey Reitman is a civil liberties advocate and the author of Transaction Denied, a comprehensive investigation into debanking, financial censorship, and the growing role of financial institutions in regulating speech. She previously worked at the Electronic Frontier Foundation and co-founded the Freedom of the Press Foundation.Timestamps: ➡️ 1:20 — Why cash functions as a

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00:39:36

#183 - A founder's playbook for new SEC crypto guidance

Law of Code ·

2026/04/06

What should crypto founders know about the SEC and CFTC's joint interpretive guidance on securities law?Joining to discuss is Joe Doll (@Sh0edog), Counsel at Day One Law and previously General Counsel at a crypto startup. Joe wrote a detailed breakdown of the guidance aimed at founders, which we walk through from start to finish. Timestamps:➡️ 0:00 — Intro➡️ 0:07 — Why the Howey Test exists➡️ 3:11 — Why tokens are not necessarily securities➡️ 7:47 — The five-category token taxonomy explained➡️ 8:45

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