Ryan

Robin Hood.

Okay, but they've all said, eh, it's not so bad.

It's not so bad.

So I kind of wonder, I mean, where this stands.

I guess on the DeFi thing, that was my big question, right?

Which is like, how much of DeFi is protected versus under threat?

Jake Trevinsky says in the current version of the bill,

The latest draft leaves ambiguity about whether all sorts of developers and infrastructure providers could be forced to KYC users, register with the SEC, or comply with other rules that don't fit DeFi.

Okay, so there's still some rulemaking, some loose language around this, even if a Roman Storm can't be prosecuted in the way it was prosecuted.

maybe front ends have to enforce KYC for users, like a lot of things that are pretty crappy coming from the Elizabeth Warren side of the house here.

In my opinion right now, the bill is like D, D plus, maybe C minus, D plus probably.

Like I kind of, I'm on the Coinbase side of things.

Like it's not great in a lot of ways.

This, all of that gets it to an A. Are we going to get all of that?

I think probably not.

But then the question is, do we support it?

Do we want to pass?

This is David Sachs saying, of course, part of the Trump administration, passage of market structure remains as close as ever.

The crypto industry should use this pause to resolve any remaining differences.

Now is the time to set rules of the road and secure the future of this industry.