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Given FTX is the bull market winner Sam gets to write the rules & choose which hill to die on. What’s interesting is that he chose p2p payments & not permissionless smart contracts, where free speech & open crypto sandbox actually proves the tenacity of permissionless
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1) As promised: My current thoughts on crypto regulation. ftxpolicy.com/posts/possible
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That’s great in theory, but specifically given OfAC now sees fit to block smart contracts at their discretion I don’t see how that aligns. I’m all for the disclosures & consumer protection, but the minute OFAC mandates what smart contracts are allowed, it’s not permissionless
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Also requiring broker/dealer licenses to any website that communicates with validators is essentially creating a moat as to who can become a relayer or front end service for a smart contract as a square peg to protect consumers
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