🇺🇸 The SEC has released new crypto guidance and it is bullish for DeFi. 1. Token holder voting does not make a network centrally controlled, as long as holders are not acting together. 2. A network only has a central party if someone can control access, change the voting process, pick validators, or rewrite the code. 3. Functional and decentralized are two separate tests, and how decentralized a network is depends on the facts. Crypto is finally getting the clarity it deserved.
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