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1/ Watching

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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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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a lot of people throwing shade but sam spent so much time, money, and efforts on building the bridge with DC and the relationships

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heh idk hopefully I did net good for the world in the end time will judge us all hopefully someone else has them to take up the mantle?

3:20 AM · Oct 30, 2022Twitter Web App

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There are like 5 different lobbying and policy groups with access to Capitol Hill.

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none of them as well capitalized as sam or have spent nearly as much lol and we all know money talks

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I think you are trying your best for the sake of the industry, don’t be discouraged by the naysayers Sam.

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good and bad are subjective, i don’t know how any of this is going to shape up but even as a web3 gaming studio founder i can tell you that the lack of regulatory framework is troublesome. the ideal path for us is one where you’re involved intimately, sam. it’s not binary.