How DeFi goes mainstream: bridging the gap between degens and regulators
DeFi is at a crossroads. The pace of innovation is dramatically faster than any other evolution in finance, and the current regulatory regime in the US is clinging tight to their comfortable, traditional expectations for how finance is regulated. They’re acting as though centralized entities should come to them seeking authorization to develop Self Regulatory Organizations, spend five years demonstrating how these SROs will comply with regulatory oversight, and then seek approval to launch these new products for the public. Not only are these expectations at odds with how fast DeFi is innovating, but they also intentionally disregard the decentralized aspect of DeFi.