Conversation

3) First off—a huge thanks to everyone who gave constructive feedback, comments, and criticism—notably

@ErikVoorhees

and

@RyanSAdams

but too many more to name. I’ve revised my post some already, and will continue to do so.

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4) Thanks particularly to everyone who highlighted the core of crypto: economic freedom. The freedom to own your own assets; to own your own data; to build your own programs

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5) None of this works if you need active permission to do everything: commerce grinds to a halt. If you show up at 7-11 to buy a bagel, and next thing you know you’re pulling out a passport and social security number and taking selfies, something’s gone wrong.

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6) On the DCCPA: a bunch of the comments the DeFi community is making are extremely important. Here’s where it stands:

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7) The core goal of the bill is to regulate *centralized* crypto venues. The main *DeFi* touchpoint is: *how can a regulated centralized entity interface with DeFi?*

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8) In particular, it is *not* making claims about what DeFi devs, smart contracts, and validators must do. It’s looking to eventually establish guidelines about how e.g. FTX’s platform--or Fidelity's--could interface with DeFi contracts.

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