The CFTC has gone after bZx saying the Bzx protocol itself was a futures violation and that the DAO governance didn't matter, it was still an unincorporated entity. This kind of ruling will impact SO many projects, collateral, margin, futures, settlement, DAO pass through.
They will use bilateral intergovernmental treaties with most UN countries to extradite and imprison and sue Non US Citizens who do not mandate KYC on their smart contract. You can deny this all you want, I wrote a long separate thread, they have 6 major federal acts to work with. We MUST make the US government amend and fix Dodd-Frank to work with crypto, we must significant;y fundamentally alter this act in Congress or it is going to kill DeFi. US Private equity and banking lobbyist are using Federal Financial Institution laws/privileges behind the ulterior intent of National Security and aml to protect and entrench their status as intermediary, they're using the CFTC and SEC to make it so unaffordable to compete and innovate if you want to offer services to US customers, so that only major existing incumbent bank are allowed to offer crypto services to US citizens. You need to convey this to your representatives and Senators, especially both parties.
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