Subject: s7-02-22: WebForm Comments from Matthew Nienow
From: Matthew Nienow
Affiliation: Software Engineer

Apr. 18, 2023

April 18, 2023

 This is regarding the potential regulation of DeFI protocols. The problem I see is that someone (who may do so anonymously), can create a full \"exchange\" by simply creating contracts on the blockchain. Not even a website is technically necessary for the exchange to operate. And the person can step away and let the blockchain run everything. So in that case it is impossible to regulate as there is no ties to a person or an organization. And there is no way to halt the operation as it is on the blockchain forever.

Another problem is that the rest of the world is already far ahead of the United States in financial innovation because of the failure of the agencies of the United States to work with crypto companies to create a better path forward.