i’d note from a game-theory point of view, this is an arms race with TradFi (as Le⚔DAO is guild of legal engineers we track this, esp ith BIS stablecoins and FSB. The only way to win is not to play … what this means is coming halfway and offering co-regulation (they obviously refuse to believe DeFi after FTX (d)efective altruism. This falls into categories like public-private partnerships, subordinate legislation, public scrutiny of protocols. There are some disturbing outcomes LexDAO would want to avoid
The suboptimal one is in code(rs) we t(h)rust where programmers are deemed fudiciaries and held responsible for their code (you guess where this is going with skynet). This is fundamentally unjust as you are asking one cog to understand the whole complex system.
The Szabo approach of just technical updates is heavily criticised by Zamfir (hum’in’loop) and this is the current position with every regulatory body out there with license to thrill (financial theatre) after Terra-bomb and FTX.
I’m sure some advocacy won’t hurt but are funds better spend on actual compliance rather than stonewalling?