We are definitively entering a "Golden Age for Crypto" in the United States and, with the signing of GENIUS into law, the passage of CLARITY and Anti-CBDC Acts in the House, we are finally securing a rational, transparent foundation to build here in America. But this is just the beginning! On behalf of the team at @MoonPay, we wanted to personally thank the @BankingGOP for preparing the Market Structure Discussion Draft and requesting feedback from the industry, especially @SenatorTimScott, @SenLummis, @SenatorHagerty and @berniemoreno. Unlike the CEXs and some other centralized players, the Decentralized Ecosystem does not have any one player looking out for its interests, thus, we wanted to share our submission, which we believe represents the best interests shared by the 500+ partners within the MoonPay Network. To that extent, we advocated for: 1.) Clarity on DeFi. We celebrate the inclusion of the Blockchain Regulatory Certainty Act in the Discussion Draft, which clarifies that peer-to-peer, non-custodial DeFi interfaces are not money transmitters, and invite similar clarification under the securities laws. Huge kudos to @fund_defi’s excellent RFI response which addresses this topic in great detail. 2.) Self-Custody. At MoonPay, we believe the future of crypto is non-custodial and strongly support the Discussion Draft’s inclusion of protections for self-hosted wallets.   3.) AML / CTF. MoonPay is committed to regulatory compliance as a licensed Money Services Business (MSB) and hopes that market structure legislation accounts for the substantial pre-existing compliance of MSBs like us in the digital assets space. Full submission below.
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