I extremely advise viewing
SBF_FTX’s dispute with Erik Voorhees https://www.youtube.com/watch?v=Ytaa_5liwMA
“however, I think what both sides missed is that there actually is no “offer 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 “offer” to leave block validators, relayers, builders, RPC nodes, and other “base layer” participants completely unregulated in exchange for regulating “user 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 catastrophe, individuals require to begin developing things like dappnet and simply have whatever on Cosmos, simply stabilize decentralized vpn, ifps, dns, the stack; we’re gonna remain in court for many years, the very best thing is to bog CFTC down with intricacy.