The Banal Greed & Convoluted Congressional Short Sidedness of The Supposed Front End Regulation For Defi

DCCPA is essentially a DINO

@a16z

dev co/CEX merger agreement. Consider it the classic Netflix/DMCA vs. bittorrent shareholder enrichment strategy. By making DINO interfaces legal, regulated and convenient, most people will forego interacting with fully decentralized interfaces.

It doesn't solve the fundamental issue of permissionless blockchains existing, but doesn't really need to in the near term (that becomes more tractable for LE). It turns the DINO VC dev cos into a new form of intermediary that exist with CEX & CFTC protection

DINO interfaces get privileged retail access through existing web infra/CFTC registered CEX interfaces. This allows TradFi to absorb DeFi tech, and gives DINOs exit liquidity for their conflicted common share equity. Win for everyone except those who care about the tech or law

Notably, none of the people who hate or love the tech are satisfied with this compromise, because it is a superficial fix that enriches mercenaries, and does nothing to resolve the legitimate legal or technological debates between regulatory and decentralization maxis

-makesy 📷

@0xMakesy
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16h