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100% advocating for crypto and defi it would be dumb, otherwise, for me to support a bill that regulated *my* business--increasing costs/etc.--while respecting DeFi (which is what I think/hope Stabenow-Boozman will do!). I'd love to hear your concrete proposals/disagreements!

12:50 PM · Oct 21, 2022Twitter Web App

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and

Ah, just a couple of years ago we were "crypto is anonymous, defi is decentralized, tradfi won't mess with us"

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wont your proposal make DeFi CedeFi?

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and

Defi will never have regulatory framework according to US standards. Sometimes you have to take sides with no in between. Defi p2p zero kyc self custody etc where users accept the risk they are taking or full cefi kyc etc where users accept cexs terms and conditions.

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and

Your taint on this industry will be a hard one to wash off. Your business does not rely on *decentralised* crypto succeeding in the long run and your actions reflect that quite clearly.

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it 100% does depend on it, otherwise there would be no crypto to list on a centralized exchange

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basically think that thread is wrong about the bill -- see e.g.

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_gabrielShapir0

@lex_node

Oct 19

Notably, this version contains a limited exception to the term "digital commodity trading facility" which would exclude persons who solely develop or publish software--this could be a boon to DeFi/crypto.

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You’re building a moat. You can pay the increase of fees, most cannot.

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Don’t you think it is too broad in scope by including DeFi in the bill? Why not focus solely on the SDN block list stuff and then tackle DeFi which is much more complicated. The bill currently is stated to give CFTC complete authority on DeFi now. Seems premature

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Are you joking? Because it would increase costs disproportionately more for potential competitors obviously. Wow you’re dishonest. This is the classic move of the monopolist: plausibly deniable regulatory capture.