#CryptoRoundTableRemarks DeFi is reshaping finance, but regulation hasn’t caught up. I believe DeFi developers should be treated like open-source builders, not traditional financial intermediaries—unless they actively run platforms or profit from user activity. Writing code is free speech; deploying systems is where responsibility starts. Regulation should target behavior, not just code. As finance becomes more code-driven, we need smart, tech-literate policy that protects users without stifling innovation. Clear guidelines, safe harbor provisions, and accountability for actual custodians—not builders—strike the right balance. Innovation and investor protection can coexist, but only if we evolve beyond outdated frameworks.