BREAKDOWN: US Treasury Department Won’t Go After Miners, and BlockFi Settles With the SEC

It has been a busy few days for crypto in Washington, D.C. 

This episode is sponsored by Nexo, Arculus, and FTX US

Today on “The Breakdown,” NLW covers a set of news from the past few days, including:

  • U.S. Treasury Dept. sends a letter to six concerned senators, saying it won’t be including miners and validators in the agency’s definition of a broker 
  • BlockFi settles with the SEC
  • YouTube and OnlyFans get deeper into crypto and NFTs 
  • Crypto and geopolitics from New Hampshire, El Salvador and Europe 


Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at

Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at

FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Khaichuin Sim/Moment/Getty Images, modified by CoinDesk. Join the discussion at

See Privacy Policy at and California Privacy Notice at