today Garry Gensler, chairman of the SEC, made some very clear remarks on synthetic stock trading: Bloomberg - Are you a robot?
It is clear that his remarks fit Mirror protocol, which would make it illegal if this opinion is shared US Regulators. A lot of you might think “oh, it is decentralized, they can not stop us”, but I think this would be too optimistic. The US is a very powerful nation. If they want to outlaw something, they will have success. They can’t stop the blockchain, but they will make our life a living hell and at least cost us participants from the USA (and probably Europe too)
Combined with the focus on regulating Stablecoins (which might lead to them banning everything that is not completely backed by USD) this regulatory attention could have a big effect on the whole ecosystem.
What are your opinions on this? I would be interested to hear what the community and TFL have planned concerning lobbying these Politicians and getting into contact with regulators in the US. In my opinion, we need to frontrun any regulatory action. And those might come earlier than expected.