brypto

Working on building zkTLS infra/products. A ruthless empiricist and meme connoisseur.

/opacity

and

/eulerlagrange

The KYC/AML rules for securities is rooted in the bank secrecy act. Meaning you’d have to change the law.

The SEC doesn’t have the authority to give exceptions on these rules. If the clarity act falls through the SEC can make new rules around decentralized exchanges.

They can’t touch kyc/aml though

BSA does not apply to ownership or buying and selling of stocks. Has nothing to do with the SEC.

Might be time for new legal counsel.

You're wrong but keep telling yourself whatever you want.

I’m not wrong, I’ve talked to a lot of people in this space

I might not be citing the correct law but it’s a nit pick.

This cast is a word salad of incorrect statements.

This cast is a word salad of incorrect statements.

https://farcaster.xyz/eulerlagrange/0x4c84a94a

While I understand the excitement, there is a hurdle to get it truly onchain there is an incentive to be hush hush about.

That is composable KYC. The Robinhood chain is a walled garden, basically a web2 exchange without proper composability.

There may still be benefits of smart contracts, but don’t conflate it with being fully onchain.

I’m not a lawyer fam. 

My overall point is you can’t have securities trading onchain that’s compliant without breaking the composability of DeFi.

I’m not a lawyer fam. 

My overall point is you can’t have securities trading onchain that’s compliant without breaking the composability of DeFi.

https://farcaster.xyz/eulerlagrange/0x1925e36e

Big talk from a guy who looks at this every morning

https://farcaster.xyz/eulerlagrange/0x0c08775e