Digital asset Market Structure and Investment Protect act-- Catastrophic

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It is catastrophic regulation. It will be catastrophic to the free market, disruptive, open market, cross border nature of crypto, and the new wealth crypto has created. It is a bill designed for mass real time surveillance, confiscation, and to steal the market from crypto entrepreneur and redistribute it to US financial institution in the form of monopolies.

Our industry must hire as many lawyers and fight it in as many courts, it will determine the quality of life of future generations. These laws that entrench US institutions create extreme market barriers and protectionist rackets for incumbent wealth, that destroys innovation, promotes a police state of surveillance, and are antithetical to crypto as we know it. They do not want off exchange unregulated crypto, period.

Moreover this bill obliterates and illegalizes the global DeFi industry, a ban on competitive yields, competitive services, countless services that out compete Traditional Banks currently. It illegalizes peer 2 peer anonymouty, it is a de facto global ban, announcing that they will hunt anyone in the world out of aml compliance who fails to screen for US citizen. It is utterly unconstitutional.