I highly recommend watchingSBF_FTX’s debate with Erik Voorhees https://www.youtube.com/watch?v=Ytaa_5liwMA
“however, I think what both sides missed is that there actually is no “deal on the table” such as SBF’s utilitarian “tradeoff” arguments re: front-ends are premised on–i.e.,
–neither Congress nor CFTC nor USGOV is offering a “deal” to leave block validators, relayers, builders, RPC nodes, and other “base layer” participants completely unregulated in exchange for regulating “interfaces”so the entire premise of the “tradeoff” discussion is specious
The DCCPA merely exempts “validat[ing]” *spot* digital asset txs from intermediary registration requirements.Even in the CFTC’s lane, that still leaves wide open regulatory issues re: derivatives & leverage txs *and* other base layer roles (block-building/relaying, RPC node)”
this is a disaster, people need to start building stuff like dappnet and just have everything on Cosmos, just normalize decentralized vpn, ifps, dns, the stack; we’re gonna be in court for years, the best thing is to bog CFTC down with complexity.
