5min chapter

Bankless cover image

SBF vs. Erik Voorhees: How Do We Regulate Crypto?

Bankless

CHAPTER

Do You Want to Exclude DeFi From DCCPA?

I think the costs are way lower and the advantages are moderately higher to putting permissions on centralized frontends or derivatives trading protocols than they are for payments. When we acknowledge at least that the political class, the regulators themselves are nowhere near ready to be regulating DeFi, this bill is not where they should be contemplated. We are not ready and thus the DCCPA should not include any conception of DeFi because if it does, it's going off the track.

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