1/ Watching v as I clean my house :)
Takeaways:
- The Federal Reserve and banking system - highly regulated -- is not transparent. Why should crypto be held to a higher standard, when it is already MORE transparent in many ways?
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Conversation
Watched this earlier today, it seemed like a productive discourse
You can tell Erik has a stronger grasp, but showed deference to SBF in a “You gotta trust the person in the room” way
I never felt like SBF was lobbying on my behalf, but under Erik’s influence, I do feel better
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I feel like Erik would blow an actual negotiation -- though I highly respect his thoughts and position.
I don't think an absolutist, purist position is possible here. If we gambled with that, we'd all get nothing.
SBF is practical. He's balancing many, many things.
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Let's be really clear... My suggestion to Sam wasn't to take an absolutist, purist position. That's a strawman.
My suggestion was highly pragmatic and prudent: don't include defi in a bill that intends to regulate BSA-registered financial intermediaries.
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hm so I think you and I have fairly different priors on what would be interpreted in DC as 'absolutist' and 'purist'
but idk maybe you're right! I'm guessing you've spent a bunch of time talking to lawmakers and regulators from both parties and gotten positive feedback?
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Purist = free-market capitalism. No regulations of voluntary transactions between consenting adults.
Anything less than that is already a compromise.
I have no doubt a great many compromises will be in the DCCPA. Nobody should accept targeting defi as one of them.
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don't think it does target DeFi, do you? If so, where/why? (Also what does 'targeting' mean?)
I hear you on free markets! I think DC is more complex right now, but again, I'm probably just off-base here--how have your conversations with politicians gone?
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From your convos with politicians, would you describe “targeting DeFi” by definition as a part of this bill or no?
I think clear expectations on that subject specifically would be really appreciated by all.
Sincere thanks to you both for this discourse👍
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I'm not sure what his definitely is, exactly, but I don't think it will!
but we'll have to wait to see the final language.