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1/ CRYPTO POLICY: I’ve been quiet publicly, active privately on the DCCPA and US policy the past couple months. tldr: DCCPA must be significantly amended or paused until next year. Measure twice, cut once. Let's get US crypto policy right.

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Again, question to

: Will you support delaying DCCPA to next year so that it can be done right, rather than pushing it through this year where most industry leaders believe it is being done wrong?

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It depends on the final language, as I've said many times. *If* the final language protects DeFi, then I'm strongly in favor of it passing this year. If it doesn't, I'm not. There are a few remaining language chocies that will be *very* relevant for its impact on DeFi.

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That's good to hear. Thank you Sam for the response, and for your continued engagement on this.

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I agree w/ Sam it depends on final language. I am pessimistic the language is moving in the right direction, but I wouldn't blame "crypto twitter" so much as "why couldn't we keep this in the family?" for as long as possible while working on edits. The draft leak was a setback.

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oh yeah sorry 100% agree with that I think the CT discourse on DeFi in general is super helpful I think the specific targeting of the bill in a super public way less so (but again maybe I'm wrong!)

5:26 PM · Nov 4, 2022Twitter Web App

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Do we have specific definition for defi ?

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yeah it stands for decentralized finance

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Sam/Ryan, not sure you guys see the link between blockchain & lawmaking but the more public, the more legitimate, the better the outcome. For all constituencies. Even if it means an impasse or delay or airing of particular agendas that some might prefer to be more crypty.

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Bills almost always have serious unintended consequences and should be used only as a last resort & to solve a serious problem that can’t be solved any other way. It’s key to ask what problem is this bill solving that is worth the drawbacks, risk & unintended consequences.

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In other words what is so broken in our industry that we are saying “Hey, we can’t solve this problem ourselves, we need mother government (with its guns) to fix this with a new bill that will be funded by worker wages and will be around forever.”?

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1) what

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