When DeFi Needs Permission, Is It Still DeFi?

[madmax]

One of the most controversial elements is language that could require decentralized finance developers to register with federal regulators. While the bill stops short of banning DeFi, critics warn that forcing builders to comply like financial intermediaries undermines the very idea of permissionless innovation.

If deploying a smart contract requires government approval, many US-based developers may simply build elsewhere. The risk isn’t just slowed innovation — it’s an exodus. In trying to bring DeFi under the same umbrella as traditional finance, lawmakers may push the most experimental and creative work offshore.

[JanEmil]

Sounds stupid.