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Going every live guys welcome to another article of good morning crypto only here on I will take today, we'll be discussing something very important namely that right now we do see the former treasury Chief speaking out about the global digitalization, this is very important because as you know we've been covering it on this channel for the past weeks that's right now the dollar is losing its dominance that we are seeing many different polls in the world we're having a multipolar world and right . this is coming into the mainstream ,we do have formery treasureship saying basically that the US is getting lonely as other powers band together at the same time we do have Hillary Clinton you probably have seen it yesterday coming out saying that Bitcoin will destabilize Nations well it is funny because many people say that maybe she's also doing a bit of you know a bit of destabilization a bit of shaking around in terms of in terms of countries but the overall trend that right now we do see the crypto space collide with the traffic space and as part of that we have also the SEC coming out saying that they will regulate defi(triading interest) ,
I think this is so very this is important for us to understand because if you scroll down in this article which I will show you yeah they're saying the following that in particular The Proposal would require communication protocols venues that bring together buyers and sellers of Securities through structured methods to negotiate a trade to comply with rules for exchanges ,I mean this is becoming very interesting because basically what SEC is saying is that they will try to regulate peer-to-peer ,and they will try to regulate the these systems where there is no venue there is no centralized middleman we have peer-to-peer it's all decentralized and so what this industry will have to move to very soon is just like we've been predicting exactly like predicted that you cannot use the website anymore because the website can be attacked the web whoever is running the website they can be attacked by the SEC FC can say listen you run the website you have a venue instead what dife will shift into is that you download software to your computer you double click the exe you run it yourself so units will probably will ship as a desktop software that you can just download from GitHub because it's open source software at the end of the day it just opensource software you download it you run yourself this is the future of Defi ,
we need to be running these things ourselves because that's the way to protect against this regulatory overreach because at the end of the day it doesn't matter if you use a website or use a desktop app or you use some other interface ,just an interface okay and you can make a nice interface without the website but it is of course a bit I don't like when the regulations is pushing us into a direction that is unnecessary we have the websites already they work fine but no because of this and this and this now we have to move to desktop which will also be fine but this is the this is why a regulation is this is how regulation is done in a bad way, in an inefficient way where it doesn't achieve anything it just makes our life a bit more difficult a bit more cumbersome that's exactly what Gary Gensler is achieving maybe it is his goal maybe it is his goal so this is why we are right now witnessing this this whole situation unfold and most people are not watching this most people still haven't understood the the danger of having protocols that are not fully decentralized which we do see a lot listen to this guy The Protector he's gonna come after he's gonna come after .
everything that is not fully decentralized and wherever there is an opportunity to strike he will strike but just like Preston burn says exchange functionality is going to get abstracted out into entirely peer-to-peer functionality if users can index the offers they can run an order book at client side and basically do tracing with each other fully client-side on their computer what will the SEC do then will the SEC regulate laptops let's see guess because at that point laptops become the venue it is the your your.
machine your computer and that that becomes so weird at the end of the day you cannot stop this and regulation should be adopted to the current realities of Technology if you have regulation that is from 100 years ago which Securities regulation is and now you have a totally different world where anyone a 15 year old in their bedroom in India can do an application they can do a coin and they can do it in five seconds and they can just deploy it you you see that they will not be able to they will not be able to regulate to enforce the regulation they can try , but it is just that it's gonna be more difficult you lose credibility as a regulator anyone can create an asset anywhere in the world.
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