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.
Conversation
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?
9
3
34
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.
5
8
177
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?
13
3
45
This Tweet was deleted by the Tweet author. Learn more
So we are just supposed to trust Sam bc he is the one with ‘relationships’ in Capitol Hill? Isn’t that how we got to a pretty deplorable state of politics today? By trusting those who were supposed to “know better”?
6
2
83
He's our guy, like it or not.
He's willing to engage on Twitter with us. He's willing to go on a pod with Vorhees and debate live.
Better than most Swamp Things.
Let's engage with him -- give him the best we can in terms of arguments and ideas.
18
4
35
FTX competes directly w/ DeFi, and the more traffic DeFi gets the less money FTX makes?
There is no “crypto industry” and while we all get painted w/ the same brush bc we’re small and weird—we are a diverse group w/ disparate goals
I wanna believe, , are you “our guy?”
GIF
read image description
ALT
1
3
oh huh I definitely disagree with your empirical claim!
sure there's *some* competition but that's not the major factor.
the major factor is that if DeFi goes away:
1) FTX wouldn't get volume from many tokens b/c they're DeFi related
2) crypto as a whole would be way worse off
1
5
^ This is what I thought.
FTX ultimately loses overall if DeFi loses.
All volume would be way down.
2
4
ya seems like the pretty clear prior
Well FTX does loses but stays ontop of Dex (competition). However, if DeFi Frontend will be regulated FTX is now attached to the downfall as catalysator = FTX will go down with it, as the whole Crypto community will cancel FTX all api's canceled etc. imho.
Show additional replies, including those that may contain offensive content
Show