Blockchains are a new settlement and ownership layer, one that’s programmable, open, and global by default, unlocking new forms of entrepreneurship, creativity, and infrastructure. Growth in monthly active crypto addresses is generally tracking the
The economics of the internet are already changing. As the open web collapses into a prompt bar, we have to wonder: Will AI lead to an open internet or a maze of new paywalls? And who will control it — big centralized companies or broad communities
Today we submitted a comment letter objecting to the SEC’s proposed definition of an exchange as overbroad and likely to inhibit web3 innovation.
Specifically, our comment seeks clarification that it does not apply to DeFi protocols, and asserts that it suffers from significant deficiencies under the Administrative Procedures Act if it does.
We call on the SEC to work within the spirit of the recent Executive Order and constructively engage with web3 innovators to protect investors and foster innovation in this vitally important technology.