And to treat them as a broker dealer that takes custody of a stock or bond and has physical custody with a particular customer is just, it's putting a square peg in a round hole. It doesn't fit at all. It was impossible for DeFi to comply with [the IRS rule]. it. And frankly the Elizabeth Warrens and Gary Genslers of the world didn't care. Now, just on that topic of control, you're also introducing legislation, the Anti CBDC Surveillance State Act. (10:32–10:36)
CLAIM
Asserts that decentralized finance platforms could not comply with the IRS rule.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
