This episode is sponsored by, Chainalysis and FTX US.

On today’s episode, NLW looks a set of recent crypto news, including:

  • A veto of California’s version of New York’s BitLicense bill
  • A new DARPA initiative to study crypto as a national security issue
  • IRS issues “John Doe” summons on crypto tax issues
  • Tension around the CFTC as lead crypto regulator

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Jerod Harris/Getty Images for Vox Media/Getty Images, modified by CoinDesk. Join the discussion at