{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Policy Scoop with Aislinn Keely: Former SDNY prosecutor breaks down crypto's first insider trading case","html":"","width":"100%","height":180,"duration":1335,"description":"Last month, a grand jury indicted OpenSea's former head of product in what amounts to the first insider trading enforcement in crypto. \nNathaniel Chastain allegedly purchased and sold non-fungible tokens (NFTs) he knew would be listed on OpenSea's homepage at a considerable profit. This alleged activity looks a lot like front running or insider trading, in which someone profits off of non-public information.\nBut insider trading is a securities violation, and NFTs are not currently classified as securities. For that reason, the Department of Justice is arguing a creative case theory that doesn't include securities violations. Instead, the DOJ is seeking to stick Chastain with wire fraud and money laundering charges. \nIn this month's episode of Policy Scoop, Aislinn Keely sits down with Ian McGinley, former co-chief of the complex frauds and cybercrime unit in the U.S. Attorney’s Office for the Southern District of New York (SDNY) and current partner at Akin Gump’s white-collar defense and government investigations practice, to take a closer look at the case. McGinley breaks down:\n\nImplications for the enforcement of insider trading in crypto\n\nWhat wire fraud means in this context and how it's been used in the past\n\nHow the DOJ's case theory could be used in future enforcements\n\n\nEpisode 62 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Aislinn Keely, Policy Reporter.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen\nAbout Chainalysis\nChainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm,...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}