After so many years of dawdling, this bunch of politicians in the House of Representatives has finally come up with a regulatory draft! But at least it’s a first step — the bill clearly prohibits the Treasury Department and FinCEN bureaucrats from interfering with self-custody wallets! These vampires have been thinking all day about how to monitor the assets of ordinary people, and now they’ve finally been constrained by the law.

But don’t be naive, this broken bill is far from being implemented! Hearings, bickering, lobbying, compromise... the bureaucratic assembly line in Washington won’t produce results without a few years of turmoil. The #SEC and #CFTC, those two useless agencies, will definitely fight over territory; DeFi and NFT research? Heh, by the time they finish their research, the industry will have already cooled down!