Andrew Balthazor: The Bona Fide Acquisition Rule Applied to Cryptocurrency
April 30th, 2021
54 mins 14 secs
About this Episode
If you enjoyed the show & would like to support us, a donation of any size would be greatly appreciated and would mean so much!
XMR Donations Accepted :)
Thanks for tuning in! If you want to help support the show, buy a bag of Gratuitas Antigua Coffee or some Macadamia Oil at https://gratuitas.org
TODAY'S 🎙SHOW: Douglas Tuman interviews Andrew Balthazor, currently a judicial law clerk at the United States district court For the southern district in Florida and author of a legal research paper that applies the bona fide acquisition rule to cryptcurrency.
The bona fide acquisition rule is a common law principal that originates from Roman Law, that allows an innocent purchaser to acquire certain types of stolen property free from the risk that the property may be claimed by the rightful owner. One such property that the rule applies to is cash.
Primarily, for the policy reason that in order for commerce to flow freely, innocent receivers of cash in a transaction should not be at risk of having someone claim ownership to the cash they received. Whereas with property like a painting ,the rule would not apply, and the innocent purchaser of a stolen painting would not be considered the rightful owner if it can be proven to have been stolen.
In this episode, Andrew discusses his analysis which focused on bitcoin and boils down to whether bitcoin should be considered cash-like or rather should be considered more like property with traceable title ownership given its transparent ledger. Doug and Andrew apply the same analysis to Monero, reasoning the bona fide acquisition rule would more clearly apply to Monero than Bitcoin, given Monero’s cash-like fungibility. The ultimate deduction being monero acts better as money than bitcoin.
Cake Wallet, the first open-source Monero (& now Bitcoin!) wallet for iOS. If you have an iphone or Android 📲, Monero Talk recommends that you use Cake ;) It has been verified by the Monero community, you control your own keys, it connects directly to the Monero blockchain, and you can even exchange between XMR, BTC, LTC & more in the app!
iOS Download: https://apps.apple.com/us/app/cake-wallet-for-xmr-monero/id1334702542
Android Download: https://play.google.com/store/apps/details?id=com.cakewallet.cake_wallet&hl=en_US
Sweetwater Digital Asset Consulting: Connecting new money with old money since 2018.
YouTube channel: https://youtube.com/c/SweetwaterDAC
Don't forget to SUBSCRIBE! The more subscribers, the more we can help Monero grow! 🚀
Listen & Reach out to us:
GOOGLE PLAY: https://bit.ly/363JYMo
Get 🤓😎Social with us: